Thailand still pushing its unattractive LTR 10-year visa

Underwhelming uptake so far

Thailand's Board of Investment continues to promote its 10-year, multiple-entry Long Term Residence (LTR) visa as a route to attracting a million foreigners over five years and boosting tourism and economic growth — but the numbers so far tell a different story.

Board of Investment secretary-general Narit Therdsteerasukdi confirmed that only 2,800 foreigners have applied for the LTR visa since it launched on 1 September last year, with retirees making up 35% of applicants. Even optimistic extrapolation — doubling that figure after a year to 5,600, then multiplying by five — yields roughly 28,000 applicants over five years, nowhere near the government's one-million target.

Steep eligibility requirements

To qualify, applicants must hold at least US$1 million in assets, show a validated annual income of at least US$80,000 over the preceding two years, and invest at least US$500,000 in Thai government bonds, foreign direct investment, or property. A retiree track is also available for applicants aged 50 and above with an annual pension or stable income of at least US$80,000.

Cheaper options elsewhere in the region

Few prospective retirees command that kind of wealth, and neighbouring countries offer considerably more accessible alternatives:

• Philippines: the Special Investors Resident Visa (SIRV) grants immediate permanent residency for a US$75,000 investment in business or securities, extending to a holder's spouse and children indefinitely.
• Cambodia: its My Second Home visa offers a path to citizenship for investors generating US$100,000, provided the funds go into property via the Khmer Home Charity Association, and includes a work permit.
• Malaysia: offers a 20-year Premium Visa Programme for a US$220,000 investment, alongside Malaysia My Second Home for applicants 35 and older with roughly US$320,000 in liquid assets and a monthly income of at least US$8,600.
• Singapore: its five-year Overseas Networks & Expertise Pass (ONE Pass), launched in January, requires a fixed monthly income of 700,000 baht and at least a year working for an established overseas company — though outstanding achievers in arts, sport, science, or academia can qualify without meeting the salary bar.

If Thailand wants to reach a million foreign residents, easing its eligibility criteria looks like an obvious place to start.

Source: The Thaiger