BANGKOK: Thailand has introduced a golden visa scheme facility for wealthy individuals, under the scheme, a 10-year visa can be obtained.
According to the international website, Thailand’s new visa scheme allows foreign professionals to work in Thailand, but to avail this visa scheme, a person will need to show good capital in their bank account. .
Thailand’s scheme will issue 10-year golden visas to wealthy foreigners, initially to people working in the technology and digital sectors, according to the Thai government’s Work From Thailand.
According to the government plan, this project will benefit the local economy by 26 billion euros in the next 10 years.
Thailand Board of Investment Secretary-General Naret Thirdsteraskadi says that according to his estimate, at least 50 percent of the citizens who will benefit from this visa scheme will be from Europe.
“Thailand is already a favorite destination for Europeans, and the level of interest we’re seeing from Europeans even before the launch of the campaign suggests that it will be for more people after the launch,” he said. will become a well-known scheme.
Under the new extended visa scheme, work visas are being issued to foreigners in 4 different categories from September 1.
For this, a person has to show assets of one million dollars and an annual salary of 80 thousand dollars. Although there are minor differences in these regulations among different groups, the Thai government is paving the way for the highly skilled professionals needed in the country’s essential fields.
In the Work from Thailand Professionals category, the applicant must demonstrate employment with a company in the technology sector, which has generated a turnover of at least $150 million in the past 3 years.
Those in the wealthy global citizen category must invest at least $500,000 in the Thai economy to apply, which they can do in the form of buying bonds or real estate.
A special tax rate of 17 percent has been set for applicants in the Highly Skilled Professionals category, compared to 35 percent for those earning $140,000 or more annually.
This visa is valid for 10 years and is renewable, while the holder is allowed to work in Thailand.
