Cabinet approves long-stay visa regulations as Thailand seeks extra foreign funding

As Thailand prepares to re-open without quarantine to decide out vaccinated vacationers, 2 draft rules associated to long-stay visas have been approved in principle. According to a Bangkok Post report, the long-stay visa programme aims to draw 300 billion baht in foreign investment as the government tries to kick-start the economy.
Spokesperson Traisuree Taisaranakul says the Interior Ministry issued the draft rules which Cabinet approved in principle yesterday. The first regulation relates to foreigners acquiring the Thai Privilege Card, beneath which the Elite Visa is granted. Controversial would grant TPC holders an extended keep in Thailand for work purposes. Both regulations kind the idea for the Flexible Plus Programme, beneath which foreign nationals must invest at least 30 million baht in trade for a 1-year work allow.
The authorities is on a mission to draw rich international buyers, who’re being inspired to spend money on property, restricted or public companies, and the stock market. The TPC would even be prolonged to their spouse and children under the age of 20, with the programme permitting them to trade temporary visas for 5-year non-immigrant visas.
The Tourism Authority of Thailand predicts the programme might appeal to round 10,000 foreign investors, that means round 300 billion baht for the Thai economic system.
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