Latin America vs Asia: Which countries offer better digital nomad visas?
In recent years, the rise of remote work and the increase in demand for location-independent lifestyles has given rise to a new category...
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Thailand
Overview
One of Southeast Asia's most desirable destinations, Thailand offers an accessible and comfortable lifestyle. With a population of 68 million people, it is known for its friendly nature.
The country has been extensively referred to as a development success story, moving from a low-income country to a high-income country in less than a decade.
The Thailand Residency by Investment Program offers candidates the possibility to reside in Thailand for more than 20 years, including access to all the privileged services, normally reserved for citizens, as well as all the opportunities the country has to offer. This is one of the most demanded destinations in Southeast Asia, offering an affordable and convenient standard of living.
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Minimum investment of USD 19,000
Fast processing time: only takes 2 to 3 months
No minimum residence period or language requirement to obtain residency
Low cost of standard of living
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Investment options:
Any entrepreneur can apply for this benefit by following the steps below:
1. To start this program, your company must have approximately USD 19,000. It can be invested in any form of Thai business, whether it is stocks, real estate, bonds, or any type of investment available in the country. 2. Once the investment has been made, the visa can be renewed annually for an indefinite period of time. An investment visa is not a lifetime residence but allows the investor to stay in Thailand almost indefinitely.
Digital nomads, retirees with pensions, and wealthy investors can now apply for the Thailand digital nomad visa and live in the country for 10 years.
The main benefits of receiving Thailand’s new digital nomad visa are the potential for a 10-year residency in the country and a lower tax rate. Rather than paying a possible 35% tax rate, digital nomads will only pay 17% in taxes.
Applicants may bring their spouse and dependents on the Thailand digital nomad visa. However, there is a limit of four dependents per visa.
Digital Nomad Visa
Requirements
- Valid Passport: Your passport must be valid for at least six months at the time of collecting the visa.
- Earn $80,000/year: You must meet the income requirement for the last two years.
- Health Insurance: You must have health insurance coverage of at least $50,000 in Thailand.
- Work as a Remote Employee: You must work for at least three years at a publicly traded company or a company that generates at least $150 million in annual revenue.
- You may also qualify if you earned no less than $40,000/year for the last two years and hold a Master’s Degree if you fall under this category.
Steps to follow
Step 1 - Preliminary Check:
Our specialized team will review the documentation submitted to verify that the immigration requirements are met. In addition, we will verify the transparency of investment funds. As a result, we will have a background check report and signed contract.
Step 2 - Choose of Investment:
You must select the investment option that most convinces and suits you, so that later we can start the process. If you decide to obtain residency through real estate investment, we will help you choose your property based on your needs and desires.
Step 3 - Preparation of documents and sending to the corresponding agency:
We take care of everything: we obtain the criminal record certificates, we fill out and complete the government forms, we certify the documents before a notary, we do the translation and apostille everything (this service has a separate cost), and then we send it to the residence. We present your documents independently and with strict compliance with the requirements, as well as monitoring the progress of the application. As a result, we will confirm the receipt of the documents by the government.
Step 4 - Due Diligence check:
Once the residency agency receives all the documents, the applicant's background check begins. In the event that additional documents are required during verification, we will handle those requests.
Step 5 - Case Investigation:
We look forward to a positive resolution and receive the new documents together with you. If necessary, we can also help you with other operational, commercial and even domestic matters (including the arrangements of additional documents).
Step 6 - Receiving residency:
When the investment and all fees are paid, you receive the certificate of residence. Then, these documents are sent to you, so that after the wait, you can start enjoying them.
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FAQ
Does this residency allow me to obtain citizenship?
Yes, an application for citizenship can be filed to become a Thai naturalized citizen after holding permanent resident status in Thailand for 10 consecutive years.
For how long will I have the residence?
The Thailand Residency by Investment Program offers candidates the possibility to reside in Thailand for more than 20 years.
What documents are required?
• A completed application form with a photograph. • A copy of your passport. • Documents that prove your income is legal. For example an employment contract. • Certificates of no criminal records. • Health insurance policy. • Payment documents confirming the payment of state duties and fees. • Documents confirming the fulfillment of the investment conditions stipulated in the application.
Can I bring my family in this experience?
Yes, you will be able to apply for an extension of stay and Permanent Resident status for your non-Thai family members.
Can the residence be purchased with an investment in Real Estate?
The Thailand Program allows foreign investors to purchase real estate in the county and apply for a privileged multiple-entry visa.
Is dual citizenship accepted in Thailand?
Thailand does not recognize dual citizenship, but there are exceptions.
With what currency must the residency programs be paid?
This residency program should be paid in Thai Baht.
Is Thailand safe?
Thailand is ranked as one of the safest countries in Southeast Asia and violent crimes against visitors are rare. The majority of crimes experienced by tourists, expats, and retirees are crimes of financial opportunity such as pickpocketing.
In what cases can my application be rejected?
Most of the applications are authorized, however there are some reasons why you may have difficulty with this residency. Such us: • Having criminal records. • Lack of documentation. • Do not meet the minimum time in the country.
The main applicant must go to Thailand?
The whole process can be arranged without being present in the country.
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