While the Thai government has unveiled a new class of visas for remote workers, with extensions of up to 360 days, the specifics around income and tax obligations remain unclear.
Digital nomads and freelancers may be eligible for a new visa category established by the Thai government that may provide them with almost a year of work authorization; however, specifics, including potential revenue and tax obligations, remain unknown.
Reuters said that the Thai government eased some visa requirements in an effort to increase tourism as part of a package of measures unveiled on May 28 to stimulate the local economy. According to Khaosod English, a local news site, it also developed the new Destination Thailand Visa (DTV) for those seeking a work visa.
The country’s rise to prominence as a hub for digital nomads in recent years has made it an attractive destination for developers and crypto dealers.
Five years of DTV service are available for $270 (around 10,000 Thai baht). According to Khaosod, the visa allows holders the opportunity to work in Thailand for almost a year at a time, with a 180-day stay that may be extended for an additional 180 days for the same amount.
Remote workers in Thailand are expected to provide financial assistance for their families, with a minimum of about $13,650 (500,000 Thai baht) needed as a guarantee, according to the visa.
Contrast this with the new DTV; the LTV “Work-from-Thailand” visa, also called a digital nomad visa, is much more difficult to get and requires health insurance and a minimum yearly personal income of $80,000.
Work authorization for foreign nationals is contingent upon their having a valid employment contract with a firm that has generated $150 million or more in revenue during the preceding three years.
According to a November post on the digital nomad site CitizenRemote, “the Thailand digital nomad visa is very selective and has rigorous limits, in contrast to other accessible choices.”
The Thai government said in September 2023 that it will start taxing all foreign income in 2024, including revenue from cryptocurrency trading, for anybody who stays in Thailand for more than 180 days.
There is currently a lack of clarity on the tax obligations or potential income criteria for those holding a DTV visa.
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