Thailand will begin accepting applications for its new Golden Visa program beginning September 1, 2022. The program is commonly referred to as the Golden Visa because of its multiple-year stays and the requirements of a wealthy applicant.
The new Golden Visa allows individuals to stay in Thailand for 10 years. It also allows them to enter and exit the country multiple times. In addition, it allows them to bring four dependents with them during their stay.
The Golden Visa also has a few other requirements that may make it difficult to obtain.
Wealthy global citizen
- Must have at least $1 million U.S. dollars of assets.
- Must have a validated annual personal income of a minimum of USD $80,000 for the past two years.
- Must have an investment of at least $500,000 U.S equivalent in Thai government bonds, foreign direct investment or Thai property.
Wealthy pensioner
This is targeted toward remote workers working for “well-established” overseas companies. Hello digital nomads!
- Must have had a minimum of $80,000 annual income for the past two years.
- In case of annual income below $80,000 (but no less than $40,000/year) for the past two years, applicants must have a Master’s degree or above, own intellectual property or receive Series A funding.
- The applicant’s current employer must be a public company on a stock exchange, or a private company in operation for at least three years with combined revenue of at least $150 million in the last three years.
- Must have at least five years of work experience in the relevant fields of the current employment over the past 10 years.
Thailand is hoping to boost its foreign visitor and tourism numbers by introducing a new Golden Visa program and extending the stay of some of its nationals.
The new Golden Visa program is expected to attract more foreign investors and retirees who are looking to establish businesses in Thailand. It will also help boost the number of foreign workers in the country’s tourism industry. Although the new visa extension is expected to have minimal impact on the tourism industry, it is expected to allow more foreign staff members to work in the country’s various tourist-facing businesses.