Thailand launches new 'digital nomad' visa that extends stay by nearly a year

The Thai government has announced a new visa category for digital nomads and freelancers. The visa allows these people to work in Thailand for nearly a year, but details about taxes and income requirements are unclear. In recent years, Thailand has become a hotspot for digital nomads, attracting cryptocurrency traders and developers. According to Reuters, the Thai government announced measures to boost the local economy on May 28, including relaxing some visa regulations to promote tourism. According to local media Khaosod English, the Thai government has introduced a new Thai Destination Visa (DTV) for foreigners who want to work and holiday. The DTV costs $270 (10,000 baht) and is valid for five years. The DTV has a stay period of 180 days, which can be extended for another 180 days for the same fee, and the holder can work in Thailand for nearly 12 months at a time. The visa stipulates that for those working remotely in Thailand, a minimum of approximately $13,650 (500,000 baht) is required as a support guarantee for spouse and children. However, the new DTV should not be confused with the long-term resident (LTV) “Thailand work” visa, which is often referred to as the digital nomad visa. The latter is more difficult to obtain and stipulates a minimum average personal annual income of $80,000 and health insurance coverage. Foreign working professionals must also have an employment contract with a company with a minimum combined revenue of $150 million over the past three years. (Cointelegraph)