Bangkok (VNA) - Thailand will launch a new10-year "golden visa" scheme to attract foreign experts to the country.
The scheme targets wealthy foreigners, mainly those workingin the technology sector and digital nomads or “Work-from-Thailand Professionals”- peoplewho use technology and the Internet while working remotely and frequent travel.
It isexpected to bring about 26 billion EUR (26.2 billion USD) to the local economyover the next decade.
Narit Therdsteerasukdi, Deputy Secretary General of theThailand Board of Investment, said he estimated that at least 50% ofthe applicants for the Long-Term Residence (LTR) visa programme will be fromEurope.
EU countries are the second-largestinvestor in Thailand, after Japan, with 19.8 billion EUR worth of outwardstocks in Thailand as of the end of 2020.
The new scheme, which will accept applicationson September 1, offers work visas to foreigners across four categories, namely “HighlySkilled Professionals”, “Working Professionals from Thailand”, “Wealthy GlobalCitizens” and “Rich Pensioners”.
The basic requirement for obtaining the "golden visa" is at least 1 million USD in assets and an annual income of 80,000 USD,although the rules vary slightly between different groups.
Candidates for the "Highly SkilledProfessionals" category will have to work in a field deemed necessary bythe Thai Government.
People in the "Work-From-ThailandProfessionals" category must be employed by a firm with at least 150million USD in revenue over three years.
Those applying for the "Wealthy GlobalCitizens" category will need to invest at least 500,000 USD in the localeconomy, including bonds and property./.
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Illustrative image. (Photo: Reddit)
