LTR Visa contributes over THB20 billion to economy in 3 years: BOI
BOI has updated the LTR Visa criteria to enhance its appeal and plans to upgrade services to an end-to-end system for greater convenience.
Narit Therdsteerasukdi, Secretary-General of the Board of Investment (BOI), has announced the success of the economic and investment stimulus measures aimed at attracting high-quality talent to Thailand.
This initiative is being implemented through the "Long-Term Resident Visa (LTR Visa)" program, which targets four key groups of highly skilled individuals:
- Highly Skilled Professionals
- Work-from-Thailand Professionals
- Wealthy Global Citizens
- Wealthy Pensioners
Launched on September 1, 2022, the LTR Visa has already been granted to more than 7,000 individuals. This includes applicants from Europe (42%), the United States (19%), and Asia, including Japan (9%), China (5%), and India (4%).
The program has contributed over 23 billion baht to the economy, generating income through four main channels: visa fees, estimated spending by visa holders in Thailand, direct investments, and tax revenues from high-skilled professionals.
Narit revealed that in January 2025, the Cabinet approved revisions to the LTR Visa scheme. The updates aim to make the criteria and conditions more appealing to a wider range of talent.
Additionally, the scope of the program has been expanded to include foreign faculty members from various academic and vocational institutions, further elevating Thailand’s human capital in preparation for the wave of new investments in emerging industries.
These revisions have already led to a doubling of applications from wealthy global citizens, compared to the same period last year, significantly boosting investment in Thailand.
The number of highly skilled professionals and wealthy pensioners also continues to rise. However, applications from Work-from-Thailand professionals have slowed, following global trends post-Covid, as the work environment has returned to normal.
Despite geopolitical tensions and shifts in the global trade landscape, Thailand remains an attractive destination for investors and global talent. Since the recent update to the LTR Visa criteria, applications have continued to rise, reflecting a better alignment with the needs of target groups.
The LTR Visa initiative has enhanced Thailand's strengths as a destination for investment and high-quality professionals from around the world.
Moreover, the transfer of technology from these foreign professionals is expected to enhance the capabilities of Thailand’s workforce, enabling it to support industries such as semiconductors, advanced electronics, data centres, AI technologies, electric vehicles, biotechnology, and automation, all of which will drive investment and create added economic value for Thailand.
Additionally, the BOI plans to enhance the LTR Visa service by introducing an end-to-end system, which will integrate with the electronic systems of relevant agencies, including the e-Visa system, the electronic work permit issuance system operated by the Department of Employment, and e-payment options.
The system will also integrate with the Revenue Department for those seeking tax benefits, as well as with BOI-certified agencies providing visa services.
In March 2025, the BOI launched a new “Thailand Investment and Expat Services Centre (TIESC)” on the 6th and 7th floors of One Bangkok, PARADE zone on Rama 4 Road in Bangkok, to better accommodate the increasing demand for business and investor services.
The centre combines the services of the One Start One Stop Investment Centre (OSOS) and the One Stop Service for Visa and Work Permits. This integrated service point now provides a comprehensive range of services, including BOI Visas, LTR Visas, Smart Visas for startups, and support for foreign workers in BOI-promoted businesses.
