Every year, thousands of digital nomads and freelancers choose Thailand to live, work and create communities thanks to its excellent tourism infrastructure, beautiful islands and extreme affordability. But obtaining a visa for digital nomads is not easy.
The Long Term Residents (LTV) “Work-from-Thailand” visa, locally known as the “digital nomad visa,” requires candidates to earn no less than $80,000 and offers comprehensive health insurance.
But that’s not all: digital nomads must also offer an employment contract to a company whose turnover has been at least $150 million over the past three years.
The good news is that that’s about to change.
At a cabinet meeting on May 28, the Thai government decided to make major changes to tourism policy to boost low GDP growth and reduce significant national debt.
In addition to other economic measures the country has decided to do so to suggest the new ‘Destination Thailand Visa’ (DTV) for those interested in a ‘workcation’.
The new visa is intended for digital nomads, remote workers, freelancers and others who want to live and work in Thailand for a period of up to 360 days.
Eligibility and benefits for the new Digital Nomad Visa (DTV):
- This visa is intended for digital nomads, freelancers and people interested in activities such as Muay Thai, music events, cooking, medical procedures, sports training, academic or business seminars and the arts.
- DTV holders can bring their spouses and legitimate children (under 20 years old).
- They must provide a financial guarantee of at least 500,000 baht ($13,580) for the duration of their stay to ensure family support.
- The visa costs 10,000 baht ($272) and allows you to stay for 180 days, which can be extended for a similar period after paying another 10,000 baht.
- The DTV is valid for 5 years.
Possible tax requirements have yet to be announced.
Thailand’s plan to accelerate its economy is divided into three phases, with the first phase occurring more changes in visa policy.
For example, The visa waiver for tourists, business visitors and temporary workers has been extended to 93 countries (from 57), who could now stay in the country for a maximum of 60 days. The Visa on Arrival (VOA) was expanded from 19 countries to 31, spokesperson Chai Wacharonke told reporters.
The new measures also provide better visa conditions, such as simpler insurance requirements, for those looking to retire in Southeast Asia’s second-largest economy.
All these measures should be valid from June.
If all goes according to plan, Thailand should welcome 40 million foreign visitors and collect up to 3 trillion baht ($81.91 billion) in tourism revenue by the end of 2024.
