A plan for Long-stay visas to four groups of foreigners
The Centre for Economic Situation Administration (“CESA”) intended to propose to the government a scheme that would let wealthy foreigners to get long-stay visas in Thailand. Long-stay visas will be granted to four groups of foreigners: rich global citizens, wealthy retirees, wealthy professionals working in Thailand, and highly skilled professionals. These groups of people will be granted a visa for up to ten years and will be able to acquire land and property.
There are no age restrictions for “rich global citizens,” but they should indeed invest at least USD 500,000 in government bonds, property, or foreign direct investment. They must also have earned at least USD 80,000 in the last two years and have assets worth at least around USD 1 million.
Meanwhile, wealthy retirees must be 50 or older, earn USD 40,000 each year, and invest USD 250,000 in government bonds or real estate.
Professionals interested in working from Thailand, including persons who work remotely or employees of large corporations nearing retirement, must earn USD 40,000 per year, have a master’s degree or higher, or intellectual property rights, and have five years of research experience.
Experts in digital products should therefore engage for SET-listed businesses or for at least three years in private sector companies with annual revenues of more than USD 50 million. To work in target industries or as academic specialists in universities or governmental agencies, high-skilled people with no age restrictions are necessary.
Further details of the plan will be announced when the plan is approved by the cabinet.
Legal Insight Vol. August 2021 of Bangkok Global Law
The PDF file can be downloaded via the link as set below.