Thailand Visas: The Elite visa is a glorified tourist visa. So is the LTR visa.
Understanding Visas in Thailand
Thailand offers only two visa categories but do their best to make it confusing. The two categories being:
- Tourist Visas: For short-term stays, not intended for long-term residency.
- Work Permits: If you have a work permit, you are on a path to residency and potentially citizenship. If not, you are on a tourist visa.
Visa Options for Staying in Thailand
To start with the most affordable options:
- Retirement Visa: Available for those over 50 years old.
- Destination Thailand Visa: For those under 50, this involves a 180-day visa, renewed twice.
- 60 + 30 Day Extension Tourist Visa: Requires trips to nearby countries like Malaysia or Vietnam for renewal.
Alternative options to consider:
- Student Visa: Enroll in Thai language classes for around 40,000 baht per year. This is a good option if you’re committed to living in Thailand after exploring other countries.
- LTR Visa: If you qualify, though it delays the path to residency.
Long-Term Residency and Work Permits
For a long-term solution, setting up a company or obtaining a work permit is advisable. Here are your options:
- Get a Job: This may not align with Thailand’s low-cost living appeal.
- Start a Company: Complex due to the 49% foreign ownership rule, though you can arrange voter rights for control.
- Invest in a Thai Company: Obtain a work permit as a return on investment.
- Partner with a Local Business: Work with a local business to secure a work permit.
These are the only viable paths to residency or citizenship, so starting early is essential.
Initial Period: Exploring Alternatives
During the first year or two, a long-term visa may not be necessary. Consider a tourist 90-day visa and explore countries like:
- Da Nang
- Cambodia (beaches)
- The Philippines
- Malaysia
These options are affordable, with flights costing around $100-$200, and require regular holidays.
Tax Considerations
Staying on a tourist visa and using accounts like Revolut and Wise can help you avoid Thai taxes. If you’re not pursuing residency or citizenship, there’s little reason to invest in a long-term visa.
Reasons for Moving to Thailand
Before moving to Thailand, consider:
- Avoiding Wokeism: Thailand has its own issues with gender dynamics and dishonesty, and local businesses are often female-dominated. A marriage visa or work permit can lead to local control.
- Comparison with Taiwan: Taiwan’s Gold Card offers immediate residency for $350 USD, leading to permanent residency after three years. It avoids the issues with Thailand’s ‘Long Term Residency’ visa.
Desirable Alternatives
- Philippines: Offers better options for dating and a retirement visa that can lead to permanent residency. Buying an apartment for $75k+ can facilitate this.
- Taiwan: Provides free healthcare, schooling, and a straightforward residency process.
- Qatar/Saudi Arabia: Offer no tax and additional benefits, but require careful consideration.
Conclusion
Thailand is ideal for having fun, exploring online business opportunities, and saving money due to its low cost of living. For long-term stability and better work environments, consider moving to a more suitable country with lower taxes and higher standards (South Korea, Taiwan, Japan, Qatar, Dubai, etc.).
The primary benefit of Thai residency is owning a house outright. If you’re not sure about buying property in Thailand, renting a condo and moving on might be better. You can always return to Thailand for retirement and enjoyment later, given its affordability and vibrant social scene.