Business news from Ukraine

Thailand has launched a new digital system for issuing Long-Term Resident (LTR) visas, which allow foreign investors, affluent retirees, and highly skilled professionals to reside in the country for up to ten years. Since the program’s launch in September 2022, authorities have approved more than 12,000 applications, estimating the total economic impact at $1.28 billion.

The system integrates the Department of Consular Affairs, the Immigration Bureau, the Department of Employment, and the Thai Revenue Department.

Previously, applicants had to interact with several government agencies, which complicated the process of obtaining visas and work permits.

The new platform, launched in September 2026, enables centralized document processing and information sharing among agencies.

Additionally, foreign investors and professionals can contact the Thailand Investment and Expat Services Center (TIESC), located in the One Bangkok business complex in Bangkok.

According to the BOI, 12,010 foreign nationals have been approved for an LTR over the four years the program has been in effect.

U.S. citizens rank first in terms of the number of approved applications—more than 2,400 people.

Japan ranks second with more than 1,300 approvals, and the United Kingdom ranks third with over 1,000.

A significant portion of Japanese participants are highly qualified specialists working in Thailand’s automotive, electronics, and other technology sectors.

The largest category of LTR recipients is wealthy retirees. According to published statistics, the breakdown of program participants is as follows:

Wealthy Pensioners—4,561 people.

Dependents of primary recipients—3,891.

Highly-Skilled Professionals—1,779.

Professionals working remotely for foreign companies (Work-from-Thailand Professionals) – 1,043.

Wealthy global citizens – 737.

Among visa recipients in the two professional categories, 54% hold executive positions, while another 36% are specialists in various fields.

However, the BOI’s published report does not provide specific data on the number of Ukrainian citizens participating in the program.

According to the Board of Investment’s estimates, over four years the LTR program has contributed approximately 43 billion baht, or $1.28 billion, to Thailand’s economy.

On average, each visa recipient accounts for more than 3.6 million baht, which is equivalent to approximately $107,000 in economic impact.

This calculation includes direct foreign investment, domestic living and consumption expenses, visa fees, and tax revenues from highly skilled professionals.

Thus, the figure of $1.28 billion does not mean that the entire amount entered Thailand exclusively in the form of foreign direct investment.

BOI Secretary-General Narit Therdsterasukdi noted that the program helps attract international specialists and corporate executives needed for the development of high-tech industries.

In particular, Thailand is interested in expanding semiconductor production and developing artificial intelligence, robotics, the aviation industry, biotechnology, and modern electronics.

The Long-Term Resident Program covers four main categories of foreign nationals: high-net-worth investors, affluent retirees, specialists working remotely for foreign companies, and highly skilled professionals.

Each category has specific requirements regarding income, net worth, investments, professional activities, and health insurance.

In January 2025, the Thai government had already relaxed a number of eligibility requirements for the program.

In particular, the mandatory requirement of at least five years of professional experience was eliminated for highly qualified professionals and remote workers.

For remote workers, the minimum revenue requirement for the foreign employer was lowered from $150 million to $50 million.

For high-net-worth investors, the focus shifted from a mandatory annual income of $80,000 to holding assets and making long-term investments in Thailand totaling at least $500,000.

These changes have expanded the pool of potential program participants; however, the new 2026 digital portal does not, in and of itself, waive the existing financial requirements.

The LTR visa grants the right to reside for up to ten years: the permit is initially granted for five years and may then be extended for another five years, provided the established conditions are met.

Among the program’s benefits are simplified immigration reporting procedures, the ability to obtain a digital work permit for eligible categories, and certain tax benefits.

The cost of processing an LTR in Thailand after approval is 50,000 baht. Submitting the application and its preliminary review are free of charge.

However, the LTR is a long-term visa and does not automatically grant permanent residency or Thai citizenship. In addition to the LTR, the country continues to use special visa programs for foreign company executives and technology entrepreneurs, including the BOI Visa and the Smart Visa.

The Thailand Board of Investment views these mechanisms as part of the government’s policy to attract foreign capital and skilled workers and to develop the country’s technology sectors.