Thailand approves plan to attract highly-skilled foreign workers, investors, wealthy retirees

Measures aimed at attracting wealthy long-stay foreigners to Thailand have been approved in principle by Cabinet. The government is targeting foreign investors, highly-skilled professionals and wealthy retirees in a bid to develop the Covid-battered economy. Long-term residence visas of up to 10 years are on offer, along with work permits for those who qualify, according to Thai PBS World.

Government spokesperson Rachada Dhnadirek explains that while the visa issued to qualifying people will be a 10-year visa, it must be extended after year 5. The extension will be good for another 5 years only. Foreign nationals who believe they meet the eligibility criteria must first apply for a “qualification certificate” and provide documentation and evidence of their status. Applications for a qualification certificate can be made through the Thai Board of Investment or at any Thai embassy or consulate.

Once granted the certificate, foreign nationals can then apply for the long-term residence visa for both themselves and their spouse. The visa costs 10,000 baht per year per person and holders will still need to report their residence to the authorities – but only once a year. The 365-day report, if you will.

Those coming to work in Thailand, and who have been granted a qualification certificate, can apply for a work permit. Work permits will be issued for the duration of the applicant’s employment contract, to a maximum of 5 years. It can then be extended further, but no more than 5 years. Once the long-term residence visa expires, so does the work permit. Holders can change to a different visa type in accordance with Thai immigration regulations.