Thailand Adjusts New Long-Term Resident (LTR) Visa Criteria, Expected to Boost Demand. Luxury Holiday Villas like Kiara Reserve Attracting Global Investor Interest
Thailand has recently approved the adjustment of the special Long-Term Resident (LTR) visa criteria. The LTR visa is designed for those wishing to reside long-term in Thailand. This visa is part of a key initiative to attract foreign professionals, investors, and executives to the country, boosting Thailand’s competitiveness and economic potential. It aligns with government policies aimed at encouraging investment and business operations, positioning Thailand as a global hub for high-skilled talent and economic investment.
The newly adjusted LTR visa offers long-term residency in Thailand for up to 10 years, along with a digital work permit and special income tax reductions, among other benefits. Additionally, the scope has been expanded to include more categories for highly skilled individuals, while eliminating redundant requirements. This makes the LTR visa more accessible to a wider range of applicants, increasing its appeal to foreign nationals.
New Criteria Focus on Total Asset Value
The updated criteria now prioritize total asset value and investment amounts rather than a minimum annual income. This change, particularly in the category for wealthy global citizens, signals a positive development. The revision enhances the attractiveness of luxury holiday home projects like Kiara Reserve, which has captured the attention of investors globally.
Kiara Reserve, a modern tropical-style holiday residence, is being developed in collaboration with Kajima Corporation. Located at Layan Bay in Phuket, known as ‘Millionaire’s Mile’, the project comprises 46 units of 3- and 4-bedroom villas and condominiums. Construction is scheduled for completion by the end of 2025, with prices starting at 44 million baht.
LTR Visa Attracts More Opportunities for Families
An added benefit of the updated LTR visa is the expansion of rights for dependents, facilitating family-friendly living environments. Foreign nationals wishing to bring their families will find it easier to apply, providing greater opportunities for property ownership in second-home markets, especially in Phuket, one of Thailand’s most popular destinations.
Kiara Reserve is the last residential project available at Layan Bay, emphasizing Phuket’s status as a premier destination for second homes. The increasing investment value of Phuket real estate makes Kiara Reserve an attractive option for individual investors and second-home buyers looking to join a vibrant community with the perfect balance of nature and luxury, both now and post-retirement.
Easier and More Convenient Property Ownership
Kiara Reserve offers foreign buyers the opportunity to own luxury holiday homes, with the added option to join a rental program managed by Minor Hotels. This includes property management and maintenance services, in line with the developer’s commitment to environmental sustainability. Additionally, the project is part of the larger Layan Bay master plan, which includes a wellness and medical innovation center, as well as a variety of lifestyle amenities, further enhancing the long-term value of the property.
As Thailand continues to raise the bar for attracting high-quality talent and foreign investors through the LTR visa, luxury real estate projects like Kiara Reserve will also benefit from this initiative, driving increased interest in upscale holiday homes.
For more information or to visit the project, contact Minor International’s real estate team at Tel. +66 (0) 85 484 8752 or email [email protected]
