Tax analysis
Thailand
LTR Visa 17% flat HSP. General brackets 0-35%. 2024 remittance basis: you only tax what you bring.
Last updated:
- VAT
- 7%
- Corporate
- 20%
- Dividends
- 10%
- Capital gains
- 15%
- Wealth
- —
- Days/year required
- 180
- Visa types
- LTR Visa, Elite Visa, DTV (Destination Thailand)
- Difficulty
- Medium
- Paperwork
- ~12 wk
- Double-taxation treaty
- Yes (1997)
- Modelo 720
- Yes
- Exit tax
- >€4.0M
- Risk level
- Low
Why Thailand?
Thailand has shifted from "backpacker destination" to serious nomad hub in 2023-2024 thanks to three changes: the LTR Visa (10 years), the new DTV (Destination Thailand Visa, 2024, 5-year multi-entry), and the 2024 tax change that maintains the remittance basis — you only tax foreign income you physically bring to the country. Cost of living in Bangkok/Chiang Mai: ~$1,500/month comfortable life.
LTR Visa (Long-Term Resident, 10 years)
BOI (Board of Investment) program launched 2022. 4 categories:
| Category | Main requirement |
|---|---|
| Wealthy Global Citizen | $1M assets + $80K income/year |
| Wealthy Pensioner | $80K income/year (50+) |
| Work-from-Thailand Professional | $80K income/year + employed by $150M+ revenue company |
| Highly Skilled Professional (HSP) | $80K income/year + STEM/healthcare/etc. |
LTR benefits:
- 17% flat tax for HSP (vs up to 35% general regime).
- 10-year renewable visa.
- Unlimited multi-entry, immigration fast-track.
- Work allowed without additional work permit.
DTV (Destination Thailand Visa, launched 2024)
More accessible than LTR:
- 5 years multi-entry, up to 180 days per entry.
- Requires $14,000 USD in bank account.
- Applicable to freelancers, workation, "soft power" (cooking, muay thai, etc.).
- Does NOT grant automatic tax residency (caution).
2024 tax change (remittance basis)
Before 2024: foreign income taxable only if brought in the same fiscal year (historical loophole).
From 2024: foreign income taxable if remitted to Thailand at any later time. The key remains: what you don't remit isn't taxed in Thailand.
Practical implication for EU freelancers:
- You have a US LLC or European company.
- Profits stay in EU/US accounts.
- You only transfer to Thailand what you need to live (~$30-50K/year).
- Only that portion is taxed, at general progressive brackets (5-25% effective).
Spain-Thailand treaty (1997)
- Covers employment income, dividends, interest, royalties.
- Standard tie-breaker rules (permanent home, center of interests).
- Both countries must apply the treaty if you certify Thai residency.
Implications from Spain (low risk)
- Thailand Tax Residency Certificate obtained after 180+ days of presence or with LTR Visa.
- Modelo 720 required if you keep Spanish assets.
- Low risk with LTR Visa: solid tax certificate + verifiable physical presence.
- Medium risk with DTV: technically you're not automatically a Thai tax resident; you also need to pass the 180-day test.