Probably the costliest Work Permit on the planet. The Thai authorities is contemplating providing work permits to foreigners who make investments at least US$1 million in Thai property or businesses. The Centre for Economic Situation Administration has accredited a proposal to grant work permits to eligible Elite Card holders. In order to qualify, they will need to have the top-tier Thailand Elite visa card, which prices 1 million baht and is valid for 5 years. They should also be prepared to speculate their funds for at least 5 years.
The governor of the Tourism Authority of Thailand, Yuthasak Supasorn, says it’s hoped the transfer will boost overseas investment within the Kingdom. It’s hoped the plan might generate 31 billion baht for the financial system, 1 billion of which might come from Elite card fees, with the rest being generated by overseas funding.
PM Prayut Chan-o-cha has instructed the TAT and the Foreign and Interior Ministries to work together on the proposal, before submitting it to Cabinet for final approval.
Interesting has additionally permitted the proposed partnership between the TAT, Thai Airways, and local resorts, in which tourism packages inclusive of quarantine, can be offered to foreign arrivals. It’s understood the packages might be out there from December 1 until March 31 subsequent yr. The authorities is targeting 2,000 visitors, producing income of 200 million baht every month.
Just one other ‘proposal’ we now have to maintain monitor of as the visa scenario in Thailand turns into more and more complex..