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

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PHOTO: www.pinoythaiyo.com

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

 

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48 Comments

48 Comments

  1. Galaxy

    Thursday, November 19, 2020 at 12:21 pm

    Really too cheap my brother! Not expensive enough for us!

    • preesy chepuce

      Thursday, November 19, 2020 at 7:39 pm

      “plan”…

      …bwahahahahaha!

  2. Eukaryote

    Thursday, November 19, 2020 at 12:25 pm

    Wow.. a work permit for a million dollars? It’s a bloody miracle. What a bargain! I have been waiting for this my whole life!

  3. Jesus Monroe

    Thursday, November 19, 2020 at 12:37 pm

    it a bit like a old washed up hooker thinking she 20 years old again……in your dreams honey

    • preesy chepuce

      Thursday, November 19, 2020 at 7:40 pm

      A poignant analogy.

    • Fred Johnson

      Thursday, November 19, 2020 at 7:40 pm

      Best comment ever! Hahaha

  4. Toby Andrews

    Thursday, November 19, 2020 at 12:40 pm

    They are becoming desperate now. Next week it will be invest a half of a million – baht.

    • preesy chepuce

      Thursday, November 19, 2020 at 7:43 pm

      I’m looking forward to the reinstatement of polygamy in Thailand – a much-missed tradition.

  5. Joe

    Thursday, November 19, 2020 at 12:41 pm

    These people sure have a sense of humour. Who wants to invest that amount of money in a failed state where there are ongoing protests which could could turn very nasty.

    • Jack

      Thursday, November 19, 2020 at 2:22 pm

      Like USA, Europe, UK, and almost every other country under control of the kleptocrats?

      Over throw your government(all governments) and take back YOUR freedom!!!

      Abolish immigration and the drug and sex war!

      • ynwaps

        Thursday, November 19, 2020 at 5:46 pm

        wtf jack?

        • preesy chepuce

          Thursday, November 19, 2020 at 7:41 pm

          “Jack” from Zhejiang, perchance?

      • SG666

        Friday, November 20, 2020 at 8:33 am

        Agree

    • chris

      Saturday, November 21, 2020 at 10:07 am

      okay, but … that’s the perfect time to be investing.

  6. Vidal

    Thursday, November 19, 2020 at 1:12 pm

    Meanwhile, a Burmese building site worker gets a 2-year work permit for about $150.

    • Pattaya Lover

      Thursday, November 19, 2020 at 5:54 pm

      ?????

    • preesy chepuce

      Thursday, November 19, 2020 at 7:42 pm

      …and probably spends that much a year at duty free.

  7. SG666

    Thursday, November 19, 2020 at 2:13 pm

    Not a real good plan to invest in LOScam than if I need to work after investing 1Mio US. If I invest 1Mio US in something I do it because I expect the money to work for me and me myself.

    • preesy chepuce

      Thursday, November 19, 2020 at 7:44 pm

      Surely you know that investments in places outside the US often are expected to work for someone else…

      • SG666

        Friday, November 20, 2020 at 8:37 am

        Really ? Do they ? I have all my assests outside the U.S. and invested outside the U.S. and it works out very nicely.

        I would never ever invest anything in the U.S. or in U.S. businesses or enter into business agreements with U.S. companies or Individuals. This simply because at this moment I would support the U.S. economy.

        Fxxx the U.S.

  8. Tony Grace

    Thursday, November 19, 2020 at 2:36 pm

    And you will still have to have a Thai with 51% of the holding in his or her name and the only work you will do is tryng to figure out when are they going to disapear with my money,

    • preesy chepuce

      Thursday, November 19, 2020 at 7:45 pm

      I wonder how much of Thailand is not owned by Thais? It can’t be anywhere near 49%?

  9. Bobby m

    Thursday, November 19, 2020 at 2:55 pm

    It just gets worse. I wonder how much a month the person who came up with this idea gets paid.

    • Steve

      Saturday, November 21, 2020 at 1:00 pm

      Too bloody much! Just another of Loong Tuus mindless military appointments to a job they know SFA about!!

  10. Denis

    Thursday, November 19, 2020 at 3:13 pm

    Thank you for this funny moment…

  11. Joe

    Thursday, November 19, 2020 at 3:21 pm

    Scary that the people who come up with ideas like this are running the show, we are at the mercy of simpletons.

  12. Mike Frenchie

    Thursday, November 19, 2020 at 4:07 pm

    Funny, anyone with 50.000 thb and an accountant to make the papers can get a work permit!

    • preesy chepuce

      Thursday, November 19, 2020 at 7:46 pm

      I thought it was, ahem 20,000, ahem… maybe the source you got that from is subcontracting? lol

  13. murika

    Thursday, November 19, 2020 at 5:12 pm

    work permit for what job ! there is only a handfull of job foreigners are “allowed” to do in Thailand, and in the million you invest, 51% of the company will belong to a thai person.

    Remind me of a joke i heard when i came live here many years ago: Do you know how to become a millionaire in thailand ? you come with ten millions and you leave with one !

  14. MasterOfDisaster

    Thursday, November 19, 2020 at 5:15 pm

    Lmao

  15. Ynwaps

    Thursday, November 19, 2020 at 5:21 pm

    Ah so generous! Glad it’s so easy to pay taxes in Thailand and get anything in return.

  16. Ynwaps

    Thursday, November 19, 2020 at 6:11 pm

    Also with 1$million you’d get an investment visa. Who needs a work permit? For these things the government wants to attract business for you’ve already got the BOI, which knows what they’re doing. Then they’ve recently got the SMART visa type for skilled foreigners.
    Whoever thought about this clearly doesn’t know how their own country works.

  17. Spike

    Thursday, November 19, 2020 at 6:24 pm

    How is it that The architects of bad ideas and no brain cells are all Thai government officials??

  18. Issan John

    Thursday, November 19, 2020 at 6:47 pm

    Bizarre. Simply bizarre.

  19. Remo

    Thursday, November 19, 2020 at 7:55 pm

    I guess, those guys who invest more than a million bucks, wont be looking for a job in Thailand.

    They can supervise their investment without being officially employed ,anyway.

  20. Ben

    Thursday, November 19, 2020 at 8:45 pm

    Doubt you can find 5 people that would do this let alone the 1,000+ people needed to bring in the 31 billion baht goal without a stable democratic government and solid property rights. A work permit? To do what work?

    They obviously want rich people to come over and stay and spend so why not utilize something like Malaysia’s “My Second Home” program which has attracted over 40,000 financially responsible individuals and their families since 2002?

    If you continually come up with programs that only benefit you then you’re wasting energy because there will be no takers.

  21. James

    Thursday, November 19, 2020 at 11:27 pm

    I am just about to sell my house in the UK for the equivalent of $1.2 million.

    I am going to invest it in other rental property, should I do that investment in Thailand?

    Nah, I will invest it here where I have full control, then bung 800k baht in a bank in Thailand, and get a year by year retirement visa.

    Then the most I can lose in Thailand is the 800k baht if things go sour there.

    Is the $1 million dollar investment plan in Thailand a hoax as it sounds so silly?

    • Lance Tuckey

      Friday, November 20, 2020 at 5:43 am

      Im in exactly the same boat….selling my house for 1 mill au….i have about 1.3 mill in cash and shares and will invest most in Australia…..taking with me about 200 k….the rest stays here…only taking what i can afford to lose..

      • James

        Saturday, November 21, 2020 at 1:42 am

        To Lance

        Good luck, yes leave most of it in Oz where you have full control.

        You could of course meet a bar girl, who after a while will tell you her mum and dad are ill and she needs money and a house and a car etc, you could then end up a year later at a bar all alone crying into your beer as I have seen on a few occasions.

        No, let us still to our original plan LOL.

  22. Fat to the Fire

    Thursday, November 19, 2020 at 11:38 pm

    Pathetic ideas coming out of an ill equipped regime.
    Jumping from one bad idea to another

  23. Fred Fanakapan

    Friday, November 20, 2020 at 3:01 am

    Sing to the tune of “She’ll be coming round the mountain when she comes”

    You can stick your fucking visa up your arse
    You can stick your fucking visa up your arse
    You can stick your fucking visa
    Stick your fucking visa
    Stick your fucking visa up your arse

  24. Nipral

    Friday, November 20, 2020 at 5:54 am

    One more moronic scam !

  25. James Pate

    Friday, November 20, 2020 at 9:06 am

    Anyone who can afford this doesn’t need it. There would be other ways.

  26. lootarzoon

    Friday, November 20, 2020 at 12:09 pm

    What do they mean by working permit ? Fuc…G permit ? 1 Million to F…? Joke of the year…!!

  27. Khun plastic

    Saturday, November 21, 2020 at 12:03 am

    Will you be allowed to buy a couple of square wah of freehold land in your own name to build your own mud hut on?
    If so it’s an excellent deal.

  28. Steve

    Saturday, November 21, 2020 at 12:56 pm

    Loong Tuu and the TAT must truly be insane!! These brain deads are expecting retirees to fall for these absolutely idiotic scams! The country is f***ed if this is the best these morons can come up with! Stop the quarantine bullshit and the worthless tests and open the country up!! Get real!!

  29. Stefan Svensson

    Monday, November 23, 2020 at 2:31 am

    The best entertaining thing so far! Good luck, jackpot is coming!!!

  30. Timmytime

    Thursday, December 3, 2020 at 9:51 am

    A better investment would be to set those money on bloody fire rather then invest in anything in Thailand right now. A work permitt for one million baht and a poor investment like a condo etc that never ever will be profitable, the people who comes up with ideas like this is in bad need of a severe reality check.

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