The Thai cabinet has approved economic stimulus and investment measures aimed at attracting four target groups of foreigners.
The benefits of this new package are:
- Get up to 10-year Thai visa and have your entire family stay with you (wife and children)
- Work permit
- Pay the same tax rate as Thais
- Tax exception for income earned aboard
- Land and real estate ownership and rentership rights
- Exempted from the 90-day reporting
- No quota of hiring four Thais for every one foreign employee
Pretty much a wet dream Thai visa… BUT here is a catch…
This is an infographic by bangkokpost.com, and they include 4 categories of foreigners.
- Wealthy global cities
- Wealthy pensioners
- Work from Thailand Professionals – this one finally include digital nomads
- Highly skilled professionals
The catch is, basically, this new visa package is for rich global citizens, wealthy pensioners, professionals working in Thailand and highly-skilled workers.
Thai Visa For Millionaires Only
Sounds great right, I wonder if anyone reading this will risk their life saving to bring to Thailand as the political situation is risky.
But I think this will probably be more desirable to wealthy people from neighbouring countries or the Chinese. Maybe not so much for westerners?
Thai Exapts Are Upset
This new approval had some expats asking what about regular retirees, what about the regular expats now? They feel that the Thia government doesn’t care about them as they have been helping the economy for many years.
Well, this is a new plan. I’m sure retirees are more than welcome to switch, but why should you? You are retired. You shouldn’t be working in the first place. Also, there is already a 10-year retirement visa called the non-immigrant OX visa.
People under 50 years old can’t even apply for a retirement visa even if they have money for proof of income.
The Thai cabinet is not changing anything here when it comes to their retirement visa and the extension. This plan they just approve is something new.