Government aims to offer work permits to foreigners who invest at least US$1 million

Probably the most expensive Work Permit in the world. The Thai government is considering offering work permits to foreigners who invest at least US$1 million in Thai property or businesses. The Centre for Economic Situation Administration has approved a proposal to grant work permits to eligible Elite Card holders. In order to qualify, they must have the top-tier Thailand Elite visa card, which costs 1 million baht and is valid for 5 years. They must also be prepared to invest their funds for at least 5 years.

The governor of the Tourism Authority of Thailand, Yuthasak Supasorn, says it’s hoped the move will boost foreign investment in the Kingdom. It’s hoped the plan could generate 31 billion baht for the economy, 1 billion of which would come from Elite card fees, with the remainder being generated by foreign investment.

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.

The CESA has also approved the proposed partnership between the TAT, Thai Airways, and local hotels, in which tourism packages inclusive of quarantine, can be offered to foreign arrivals. It’s understood the packages will be available from December 1 until March 31 next year. The government is targeting 2,000 visitors, generating revenue of 200 million baht every month.

Just another ‘proposal’ we have to keep track of as the visa situation in Thailand becomes increasingly complex.

SOURCE: Nation Thailand