Known as the “Land of Smiles,” Thailand is hoping to boost its tourism and bring wealthy visitors to its shores. Tourism accounts for nearly 12% of gross domestic product, though the COVID-19 pandemic has inhibited the Southeast Asian nation’s economy. To help the country rebound economically, starting September 1st, 2022 its government introduced a new visa program, targeted toward wealthy global citizens.

This program is called the Golden Visa Program. It is still to be precisely determined how long the Thailand visa will be valid, as probable changes are being made, but CIBTvisas is here to provide the information and requirements that we know so far.

Golden Visa Categories & Requirements

Apart from the mandatory USD $1,600 visa fee, applicants for the Golden Visa must fall under one of the following categories to qualify.

Wealthy Global Citizen

This applicant must have at least USD $1 million of assets. They also should have a minimum validated annual personal income of USD $80,000 for the past two years. Additionally, they must have an investment of at least the equivalent of USD $500,000 in Thai government bonds, foreign direct investment, or Thai property.

Wealthy Pensioner

Applicants for this category must be a retiree aged 50 years or older who have an annual pension or stable income. Their personal income should be at least USD $80,000 per year at the time they submit their application. Should their personal income be below USD $80,000 (but no less than USD $40,000 per year), applicants must also have at least USD $250,000 in Thai investments.

Work From Thailand Professional

If you’re a digital nomad, this category is for you! These applicants must be remote workers working for long-standing overseas companies. Not only should their annual income be a minimum of USD $80,000 for the past two years, but during the previous 10 years, they should have at least five years of work experience in fields similar to their current employment.

Additional Golden Visa Benefits

There are numerous reasons to acquire a Golden Visa. Elite visitors will have the unique opportunity to call Thailand a second home, have an extended vacation, or work remotely as a digital nomad. Accepted applicants for the Golden Visa Program will have specific benefits including:

• A 17% personal tax rate for highly-skilled professionals
• Tax exemption for overseas income
• Multiple entries and exits (with strict conditions)
• Inclusion of up to 4 dependents within the visa
• Fast-track service at international airports in Thailand, and more

And we can’t help but highlight the sheer beauty, unique culture, and delicious cuisine of Thailand that awaits.

Let’s Start The Conversation

CIBTvisas is here to keep you in the know. For more information, and the latest updates regarding Thailand’s new Golden Visa Program, get in touch with us today. We look forward to supporting you in acquiring a Thailand visa as well as all your other visa and passport needs.