As Thailand prepares to re-open without quarantine to pick vaccinated tourists, 2 draft laws associated to long-stay visas have been approved in principle. According to a Bangkok Post report, the long-stay visa programme aims to draw 300 billion baht in international investment as the federal government tries to kick-start the financial system.
Spoiler says the Interior Ministry issued the draft laws which Cabinet accredited in principle yesterday. The first regulation relates to foreigners obtaining the Thai Privilege Card, under which the Elite Visa is granted. The second regulation would grant TPC holders an prolonged stay in Thailand for work purposes. Both laws kind the idea for the Flexible Plus Programme, under which foreign nationals must make investments no much less than 30 million baht in exchange for a 1-year work allow.
The government is on a mission to draw wealthy foreign buyers, who are being inspired to invest in property, restricted or public firms, and the stock market. The TPC would also be extended to their partner and youngsters under the age of 20, with the programme allowing them to exchange short-term visas for 5-year non-immigrant visas.
The Tourism Authority of Thailand predicts the programme might attract round 10,000 international buyers, which means round 300 billion baht for the Thai financial system.
For extra information on Business Visas in Thailand, CLICK HERE..