Long-term visas for Southeast Asia: Thailand LTR, Philippines SRIV, Malaysia PViP

Like other Southeast Asian countries, Thailand is seeking to attract wealthy and wealthy retirees from around the world to boost its economy. Thailand's LTR(Long Term Residence) visa has not attracted much public interest so far. It duplicates other visas, does not qualify for permanent residency or a second passport, and requires an investment of 40 million baht to purchase a small plot of land.

So far, the Investment Committee has made little comment, although Therdsteerasukdi Narit, the deputy secretary general, said Thailand could no longer rely on short-term tourists for much-needed income. In contrast, the recently announced SRIV (Special Investor Resident Visa) in the Philippines provides direct permanent residence, provided that foreigners invest at least US $75,000 in business or securities.

In return, investors can move in and out as they please, including their wives and dependent children, without additional registration fees. "If the Philippine Gold Visa is marketed properly, its simplicity will rival competing products from other countries," said Gill Harris, a spokesman for International Move."

Malaysia has also joined the fray, with its PViP (Advanced Visa Program) offering 20 years of residency with investment deposits of about $220,000. However, the scheme largely overlaps with existing visa options, such as MM2H (Malaysia, my second home), and according to Malaysian MP Lim Lip Eng, the financial details are unclear. The country has also received bad publicity for banning MM2H holders from Malaysia for six months during the Covid crisis.

The Cambodian project CM2H (Cambodia, my second home) was of great interest when it was announced last July. It seems to provide investors with investments of more than $100,000 a possible way to obtain citizenship within five years. However, the action requires real estate investment in Khmer House, a registered charity with close ties to China. However, the details include automatic work permits, just like the Thai LTR.

"All gold visa systems have their own characteristics. There may be high registration fees, such as Malaysia, or the Thai version of the bureaucracy is heavy. There may be non-binding semi-commitments to the government regarding citizenship, permanent residency or the right to buy real estate. For now, the Philippine gold visa seems to be the best investment for expatriates who want a fixed base in Southeast Asia."

Just as many digital nomads are anxiously waiting for future Indonesian visas, this will allow them to stay for five years without paying taxes. Needless to say, if visas keep their promises, many nomads in an abnormal state in Thailand will join this new paradise.