Thailand approves long-term visas to attract one million wealthy foreigners

BANGKOK (The Nation/Asia News Network): The Cabinet on Tuesday (Sept 14) approved new visa and tax measures to attract “high-potential” foreigners, in a bid to boost Thailand’s Covid-hit economy.

The goal is to attract one million wealthy foreigners within five years, generating about 1 trillion baht of spending, 800 billion baht of investment and 270 billion baht in tax income.

The new measures will offer long-term residency visas for four categories of foreigners: rich global citizens, wealthy retirees, professionals working in Thailand, and high-skilled workers.

To qualify as “rich global citizens”, foreigners must invest at least US$500,000 in Thai government bonds, Thai property or foreign direct investment, or have earned a minimum $80,000 in the past two years and hold at least $1 million in assets.

“Wealthy retirees” must either invest at least $250,000 in Thai government bonds/property and have a minimum annual pension of $40,000, or have a pension of least $80,000.

Professionals working in Thailand will qualify if they have earned at least $80,000 in the past two years and hold intellectual property or a class-A scholarship with five years of research.

High-skilled professionals must have earned a minimum $80,000 in the past two years, or have a master's and work experience in a targeted industry.

Spouses and dependents will also qualify for long-term visas.

Holders will also be exempted from the need to report to immigration authorities every 90 days.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Thailand , cabinet , long-term , visas , wealthy , foreigners


Next In Aseanplus News

Myanmar activist arrested in junta raid: wife
Asean News Headlines at 10pm on Sunday (Oct 24)
Women feel Covid-19 impact more
‘Govt will not intervene in Elections Commission’
DOH okays boosters for health workers, seniors
‘Committed to a peace plan’
Bicycles help keep people mobile
Junta rejects negotiations with coup dissidents
‘Vaccination rate may exceed 100%’
Indonesia only reports 623 newly-confirmed Covid-19 cases and 29 more deaths on Sunday (Oct 25)

Others Also Read