Remote worker or a retiree? Thailand has long-term residency options for you

livemint.com:

Investing in foreign countries for global residencies has been gaining traction in recent years. Several countries have hiked the costs of their residencies, seeing this high demand. But there are still some low-cost alternatives available, with lower living costs and lower eligibility criteria.

Thailand recently launched two residency programmes that are gradually gaining popularity: the remote work visa and the wealthy pensioner visa for retirees. Here is a look at these options.

Thailand's remote work visa or destination travel visa is for employees who still work from home. The visa applicant needs to show proof of current employment in the home country by furnishing their employment contract.

The applicant needs to show that they have the equivalent of 500,000 Thai baht or THB (about ₹12.4 lakh) in their bank account by submitting bank statement or payslips.

The applicant can add spouse and children under 20 years of age as dependents in the visa application. The visa processing fee is THB 10,000 per person, or about ₹25,000.

The visa holder also has to report their current address to the immigration bureau every 90 days. As this visa is granted to a remote worker, there is no right to work in Thailand on this visa.

The visa is valid for five years. After the first block of 180 days, the visa is extendable for another 180 days for a fee of THB 10,000. But after this extension, the visa holder is required to leave the country and re-enter. The visa holder is allowed to do this for five years. The programme was launched on 15 July 2024. Multiple entries and exits are allowed on this visa.

Also read: Cost of European residency programmes have shot up

Thailand's retirement visa or wealth pensioner visa is a long-term