Every year, thousands of digital nomads and freelancers choose Thailand to live, work and create communities thanks to its outstanding tourist infrastructure, stunning islands and extreme affordability. But getting a digital nomad visa 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 poses comprehensive health insurance coverage.
But that’s not all – Digital nomads have to also provide an employment contract with a company whose revenue accounts for a minimum of $150 million for the last three years.
The good news is that that is about to change.
In a Cabinet meeting held on May 28, the Thai government decided to make big changes in tourism policies to boost its low GDP growth and reduce its significant public debt.
Among other economic measures, the country decided to introduce the new “Destination Thailand Visa” (DTV) for those interested in a “workcation.”
The new visa targets digital nomads, remote workers, freelancers and others who want to live and work in Thailand for a period of up to 360 days.
New Digital Nomad Visa (DTV) eligibility and benefits:
- This visa is aimed at digital nomads, freelancers, and people interested in activities like Muay Thai, music events, cooking, medical procedures, sports training, academic or business seminars, and the arts.
- DTV holders can bring their spouses and legal children (under 20).
- They must provide a financial guarantee of at least 500,000 baht ($13,580) for the duration of their stay to guarantee family support.
- The visa has a fee of 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 are yet to be announced.
Thailand’s plan to accelerate its economy is divided into three phases, with the first one bringing more visa policy changes.
For instance, visa exemption for tourists, business visitors, and short-term workers has expanded to include 93 countries (up from 57), who could now stay in the country for up to 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, like easier insurance requirements, for those seeking to retire in Southeast Asia’s second-largest economy.
All these measures are supposed to be valid starting June.
If all goes as planned, Thailand should be welcoming 40 million foreign visitors and collecting up to 3 trillion baht ($81.91 billion) in tourism income by the end of 2024.