Thanks to new visa policies, Thailand is attracting tens of thousands of foreign investors and highly skilled experts.
Thailand has more than 56,000 foreign nationals with approved visas and work permits. According to the Board of Investment, this number includes about 50,000 foreign executives and experts working on investment promotion projects.
Chai Wacharong, the spokesman for Prime Minister Settha Thavisin, said the trend is Thailand’s Prime Minister Settha Thavisin’s efforts to boost Thailand’s competitiveness and transition to a minister’s model.
Measures to facilitate visas of various types have resulted in more than 56,000 foreign nationals receiving approved visas and work permits in Thailand. These include visas and work permits for foreign experts working on investment promotion projects, long-term resident (LTR) visas and smart visas aimed at attracting highly skilled personnel and investors to the country’s targeted industries through the One-Stop Service Centre.
Chai said the Board of Investment (BOI), in cooperation with the Immigration Bureau and the Ministry of Labour, has continuously assisted foreign nationals with special skills (talents), investors and those wishing to work and reside in Thailand by establishing the One-Stop Investment Service Centre (OSOS) on the 18th floor of the Chamchuri Square building.
The centre provides one-stop-shop services without having to visit multiple instances. It includes an online system for obtaining visas and work permits in one window.
BOI data shows that more than 56,000 foreign nationals live in Thailand with approved visas and work permits. This includes about 50,000 foreign executives and experts working on investment promotion projects, more than 4,000 LTR visa holders from countries such as the US, Russia, UK, China, Germany, Japan and France, and 2,170 intelligent visa holders and members of startup groups, mainly from the US, Russia, UK, Japan and Germany.
The long-term resident (LTR) visa is a government measure aimed at attracting four groups of high-potential foreigners to Thailand: professionals, remote workers, high-net-worth individuals, and retirees, including dependents. A LTR can stay in Thailand for up to 10 years, has unlimited entries and exits, and has the right to work.
Income tax for highly qualified experts will be reduced to 17 per cent, and the reporting period to the Immigration Department will be reduced from every 90 days to once a year. This visa has been granted to many experts and senior managers of leading international organisations with investments or branches in Thailand.
The Cabinet also introduced a new type of visa, the Destination Thailand Visa (DTV), for foreign nationals with remote digital skills, such as remote workers or digital nomads, who want to stay in Thailand to work and travel. The visa is expected to be introduced in June to attract more highly skilled foreigners to work in Thailand.
“The Prime Minister attaches great importance to attracting investment and enhancing Thailand’s competitiveness. Settha Thavisin believes that continuous improvement and adapting various policies to current conditions will be the key to attracting foreign labour in the long term, thereby encouraging investment in modern, promising and targeted industries for Thailand’s maximum benefit,’ Chai revealed.
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