Thailand, with its enchanting landscapes, rich culture and dynamic economy, has become a destination of choice for expatriates from all over the world. To attract international talent and investors, the Thai government has introduced the Long-Term Resident (LTR) Visa, offering benefits for those wishing to live and work in the country. It is compulsory to obtain insurance for the LTR visa for Thailand. What are the insurance requirements for a Long-Term Resident (LTR) Visa for Thailand?
What is the LTR visa and who can apply?
The Long-Term Resident (LTR) visa is a new Thai government initiative aimed at attracting highly skilled professionals and wealthy individuals to live and work in Thailand. This visa is designed to offer a range of benefits that make living and working in Thailand more attractive to foreigners.
Is insurance compulsory for the LTR visa in Thailand?
Before you leave, don’t forget your health insurance for the LTR visa in Thailand. It protects you financially and gives you peace of mind.
Health insurance is important for the following reasons:
- Administrative requirement: Depending on individual circumstances, health insurance may be a requirement for obtaining an LTR visa.
- Access to healthcare: Thailand offers high-quality healthcare services, but medical costs can be high without insurance.
- Financial protection: Health insurance for Thailand covers medical costs, ensuring that visa holders are not financially burdened in the event of illness or injury.
- Comprehensive coverage: Mondassur’s various Thailand insurance plans offer cover for a wide range of medical services. These include emergency care, hospitalization, specialized treatment, repatriation and more.
Who is eligible for an LTR visa in Thailand?
Highly Skilled Professionals: This category targets individuals with expertise in industries such as :
- Automotive
- Electronics
- Luxury Tourism
- Agriculture, Food and Biotechnology
- Automation and Robotics
- Aviation, Aerospace and Space
- Biofuels and Biochemicals
- Digital
- Medical
- Defense
- Circular Economy
- New sectors added: Transport and Logistics, Petrochemicals and Chemicals, International Business Center (IBC), and other specialized skills.
Wealthy Global Citizens: Individuals with substantial wealth and stable income who wish to obtain long-term residency in Thailand.
Fortunate Pensioners: Retirees with significant pensions or savings.
Professionals working from Thailand: Professionals working for well-established companies abroad but wishing to live in Thailand.
Dependants: Family members of principal visa holders, including spouses and children.
Whatever your profile, Mondassur can compare and find the best insurance for Thailand. Healthcare costs can quickly add up, and the right insurance will protect you from unexpected expenses while ensuring access to quality care.
What are the advantages of the LTR visa?
The LTR visa offers many privileges designed to simplify the process of living and working in Thailand. These include :
- 10-year visa and permanent work permit: This significantly reduces the need for frequent visa renewals and work permit applications.
- Fast Track service at international airports: Ensuring faster processing times on arrival and departure.
- Extended reporting periods: Instead of the usual 90-day reporting period, visa holders benefit from a one-year reporting period and a return permit exemption.
- Digital Work Permit: Permission to work digitally in Thailand.
- Tax benefits: 17% personal income tax rate for highly qualified professionals and tax exemption on foreign income.
- One-Stop Service Center: facilitation services for visa and work permit processes.
- Exemption from employment requirement: Exemption from standard employment requirement for foreigners.
If you’re planning to expatriate to Thailand, make sure you’re well-prepared for your departure to guarantee a worry-free stay. Get a free quote for your international health insurance and discover our different cover options tailored to your needs.
Having health coverage abroad ensures that your trip is safe and free from unexpected events. Benefit from comprehensive coverage that protects you against medical risks and gives you access to the best healthcare, wherever you are.
Why expatriate to Thailand?
Thailand’s strategic position within ASEAN (Association of Southeast Asian Nations) offers significant advantages:
- 2nd largest economy in ASEAN: With a population of 66 million and a GDP of 530 billion USD, Thailand is a major economic player in the region.
- Proximity to key markets: Access to 300 million consumers within a 1,000 km radius and 680 million within a 3,000 km radius.
- Free trade agreements (FTAs): Thailand has 15 FTAs with 19 countries, enhancing trade opportunities.
Thailand has an advanced infrastructure network:
- Transport connectivity: Extensive land, sea and air links facilitate the movement of goods and people.
- Digital advances: Significant progress in digital infrastructure, positioning Thailand as a digital hub.
- Robust Supply Chain: Leader in supply chain management and logistics services.
Which industries are targeted for investment in Thailand?
Thailand is focusing on both upgrading existing industries and creating new ones to attract foreign investment. Key sectors include :
- Upgrading existing industries: Automotive, smart electronics, medical tourism, agriculture and food.
- Creation of new industries: digital technology, biotechnology, defense and aviation.
- Other Industries: Infrastructure, R&D, advanced materials and renewable energies.
How can foreign investors benefit from the LTR Visa?
French investors have numerous opportunities in sectors such as :
- Automotive
- Aerospace
- Biotechnology
- Renewable Energies
- Value-Added Services
Do you own a company in Thailand, and are you preparing to expatriate your employees? The LTR (Long Term Resident) visa is an effective way for a company to secure a visa for an expatriate sent to Thailand.
