After several months of uncertainty, the long-awaited news has arrived “Destination Thailand Visa (DTV)” was finally launched on July 15, with the aim of boosting the local economy, the country’s cabinet said.
So far, more than 1,500 remote workers have taken advantage of this new arrangement, according to reports from 47 Thai embassies and consulates worldwide.
However, this figure could be significantly higher as more than 40 embassies have so far failed to present their figures, said Naruchai Ninnad, deputy director general of Thai consular affairs.
The new visa, known locally as ‘Destination Thailand Visa (DTV)’ is for location-independent workers and freelancers who can now legally live and work in this beautiful Asian country for up to 180 days per entry based on multiple entries within a five-year validity period.
It is worth noting that digital nomads are not allowed to work for local companies or Thai employers.
This visa has not come without its detractors. For many critics, the requirements to obtain this visa are too easy to meet, allowing virtually anyone in the world to enter their country.
Let’s see. To obtain a DTV, digital nomads must prove they have at least 500,000 baht (US$13,900). They must also prove that they have the nationality of one of the 93 selected countries. In short, half the planet.
Remote workers also have to produce a valid passport, proof of the previous semester’s monthly salary, an employment contract (if applicable), a professional portfolio and a business license.
Applicants must also pay US$280 or (10,000 baht) for the visa and pay an extra $280 if they want to extend it for 180 days.
So far so good: most digital nomads meet these minimum requirements.
Why are some locals so concerned about their new neighbors?
Thai academics look at other sought-after destinations such as Barcelona, Rome or London and are not happy with what they see.
By 2024, Thailand is expected to receive more than 40 million tourists, generating an estimated $95.73 billion in revenue for the local economy. This represents a significant increase from 2023, when Thailand welcomed only 28 million visitors.
The DTV, together with a number of other changes made by authorities to other visa regimes, is expected to drive a further spike in arrivals in the coming years.
The main concern of critics is a possible negative impact on the real estate sector. The easy demands could trigger an avalanche of people willing to pay sky-high prices for all types of property, driving up rental prices for everyone in the country – similar to what has happened in countries like Spain or Portugal.
When questioned about these matters, Nannad told reporters that the demands are “not simple” and that his government is not specifically targeting this demographic.
