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Iglu Umbrella Partnership Program (Business visa) Residencies Plan of Thailand (Asia)
Iglu Umbrella Partnership Program (Business visa)
Under this program, you will get a business visa and a work permit for one year, renewable.
You must work in software development, design, or other online, tech/digital-related activity and invoice a minimum of US$2,500 per month.
You will invoice through Iglu, and you will receive back 70% of the total invoiced. The other 30% will cover Iglu’s expenses, local taxes and social security payments.
The business visa is personal, so you cannot include dependents. Your spouse and/or children may have to apply for a Non-Immigrant O Visa (short stay), tied to your Non-Immigrant visa.
Once you hold 3 consecutive 1-year visa extensions, tied to the same work permit, you may apply for permanent residency. You must have a monthly income of THB80,000, earned in Thailand, (THB30,000 if married with a Thai Spouse for 5 years) or invest a minimum of THB3-10,000,000 in Thailand, and attend an interview, where you must demonstrate knowledge of the Thai language.
The permanent residence permit will allow you to stay in Thailand indefinitely without needing a visa. However, a re-entry permit must be applied to leave Thailand, otherwise your PR may be cancelled.
With the permanent residence permit, you will still need a work permit to work in Thailand.
After holding a PR status in Thailand for 10 consecutive years, you may be eligible for citizenship.
Requirements
- Be at least 22 years old
- Work in software development, design, or other online, tech / digital-related activity
- Have a relevant university degree, plus two years' experience in your field, or at least five years' total experience
- Have an existing company / client base or ability to find your own clients
- Bill a minimum of $2,500 USD per month
- Ability to commit to a one-year contract.
Restricted Nationalities
No nationality is officially restricted
dual citizenship
Dual citizenship is not recognized in Thailand. To become a citizen of Thailand, you must renounce your previous nationality.
Documents Required
- Original Professional Reference Letter (Not older than 6 month)
- University diploma
- Professional and academic certificates
- Eight passport-size photos
- Original and photocopy of passport
- dual citizenship No
- Family members included No
- land ownership No
- Physical residence required Yes
- Personal visit required Yes
- Language skills required No
- Interview required No
- Investment Single -
- Investment Family 4 -
- Minimum annual income $30,000
- Time to citizenship 156
- Time to permanent residency 36
- Visa-free countries 71
- Financing available No
Thailand
The Kingdom of Thailand, formerly known as the Kingdom of Siam, is a Southeast Asian country and a member of ASEAN. It is located to the north of the Southeast Asia subregion, bordering to the east and north with Laos, through the Mekong River, southeast with Cambodia and the Gulf of Thailand, to the south with Malaysia and the west with the Andaman Sea and Myanmar. Thailand is inhabited by 68 million people, of which more than a half live in rural areas. Its capital and most populated city is Bangkok, with over 8 million inhabitants, and 14.5 million including the whole metropolitan area. Its official language is Thai, although there are several regional languages and dialects. Its official currency is the Thai Baht.
- National Flag of:Thailand
- Currency:THB
- Area Code:66
- Capital:Bangkok
- Continent:Asia
- Native Languages:Thai, English
- Population:67,089,500
BENIFITS
With your new passport from Thailand you'll be able to access 71 countries visa free
citizenship benefits Able to buy landed properties Visa-free or Visa on arrival to 71 countries including Russia Southeast Asia Brazil Visa-free access to Russia The right to live and work in Thailand at all times permanent residency benefits The right to live and work in Thailand without any time limit Be eventually eligible for citizenship Buy condominium units without restrictions Obtain mortgage loans from banks temporary residency benefits Warm climate Low tax jurisdiction Territorial tax system High quality of life Fast and easy process Low cost of livingFEES
| ITEM | AMOUNT |
|---|---|
| processing fees main applicant | 5 |
| 000 Baht |
TAXES
To be a tax-resident in Thailand you must spend at least 180 days in a calendar year in the country.
Tax residents are subject to personal income tax on their income derived from Thailand and their foreign-source income remitted to Thailand in the year in which it is accrued. Income earned outside Thailand remitted after 1 year is tax-exempt.
Non-residents are subject to income tax on their Thai-source income.
Personal income tax is progressive at rates up to 35% for annual income exceeding THB5,000,000. Expatriates working on companies under certain tax incentive regimes (Regional Operating Headquarters (ROH), International Headquarters (IHQ), and International Trade Centers, ITC) may be entitled to be taxed at a 15% flat rate.
Dividends and interest are subject to a final withholding tax of 10% and 15%, respectively.
Capital gains are treated as ordinary income. However, those obtained from the sale of securities listed on the Stock Exchange of Thailand or any other ASEAN stock exchange are tax exempt, though certain exceptions may apply.
Thailand does not have controlled foreign companies (CFC) regulations, so profits retained in foreign entities owned by tax-residents may not be attributable.
A 12.5% real property tax is levied annually on the rental value of the property. Inheritances over THB100,000,000 are taxed at a 10% rate, though reductions may apply under certain circumstances. A gift tax applies on donations of assets exceeding THB20,000,000 (10 million in the case that recipient is not a descendant, ascendant or spouse).
There are no taxes on net wealth in Thailand.
The V.A.T. standard rate is 10%, reduced to 7% until 30 September 2019).
Regarding corporate taxation, resident entities are taxed on their worldwide income at a 20% rate. SMEs may be subject to lower progressive rates, provided that paid-in capital and net taxable profits do not exceed certain amounts.
Entities approved by the Board of Investment may have tax holidays up to 8 years. Companies under The International Headquarters (IHQ) and International Trade Center (ITC) regimes may be exempted from CIT for up to 15 years, among other tax incentives.
To learn more about Thai corporate taxation, legal framework and tax treaties, check out incorporations.io/thailand.
| TAX ITEM | DESCRIPTION |
|---|---|
| Property tax | Yes |
| Transfer tax | Yes |
| Inheritance tax | No |
| Net worth tax | No |
| CFC law | No |
| Tax residency days | 180 |
| Personal income tax rate | 35% |
| Capital Gains tax rate | 35% |
| Investment income tax rate | 15% |
| Territorial taxation | Yes |
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