Amended LTR Visa Conditions to Promote BCG Economy

On 16th March 2023, The Board of Investment released Announcement No. Por. 6/2566, which modifies the Requirements, Criteria, and Conditions for the Long-Term Resident Visa under the Measures to Promote the Economy and Investment plan. This is an amendment to the Announcement of The Board of Investment No. Por. 2/2565, issued on 30th June 2022 which outlined the Conditions for a Long-Term Visa for Resident Aliens under the plan, to draw highly skilled foreign nationals to Thailand while they invest in the economy.

As per section 13 of the Investment Promotion Act, B.E. 2520 (1977), and the cabinet’s resolution dated 7th March 2023, the Board of Investment now modifies activity 2.4.1 of the Announcement of the Board of Investment No. Por. 2/2565 issued on 30th June 2022. Activity 2.4.1 of this announcement details that an eligible expatriate needs to provide either proof of a contract of employment or service with a domestic or foreign enterprise with an assignment in Thailand,  employment with higher education or research institutes, specialized training, or public agencies in Thailand. The job must be in targeted industries detailed as follows:

1.   Next-generation automotive

2.   Smart electronics

3.   Quality tourism

4.   Agriculture, food, and biotechnology

5.   Aviation and logistics

6.   Automation and robotics

7.   Aviation and aerospace

8.   Biofuels and bio-chemicals

9.   Petrochemical and chemical (including smart materials)

10.   Digital

11.   The medical hub

12.   Defense

13.   Any industries referring to the circular economy (e.g., waste fuel production, water resource management, etc.)

14.   International Business Centers or IBCs

15.   Other industries where expatriates must provide proof that they will work using distinct skills in their domain such as:

(i) Avant-garde Research and Development related to the industry or technology, like Biotechnology, Nanotechnology, Advanced Material Technology, and Digital Technology

(ii) Training human resources in scientific fields and technology for vocational education or Education at a higher level

(iii) Making use of technology related to artificial intelligence, machine learning, automation technology and robotics technology in businesses

(iv) Digital-prompted services

(v) Consulting Marketing or financial advice

(vi) Environment and energy management

(vii) Consultancy or management in the innovation start-up incubation program or acceleration program, enterprise ecosystem support etc .

(viii) Provision of alternative solutions for disputes

(ix) Ensuring that foreign trade and investment promotions promotion businesses contribute to and promote growth in overall economic development and investment with business groups and chambers of commerce representing foreign nations.

BOI Update: Target Industries for Highly Skilled Professionals

BOI Issues Incentive Amendments for Several Business Categories

Thailand’s Attractiveness as an Innovation Hub