Connect with us


Cabinet approves measure to entice “high potential” foreigners to Thailand



PHOTO: BaronessEast/Flickr

The cabinet has approved a measure to entice “high potential” foreigners, such as wealthy retirees and specialists, to spend a prolonged period in Thailand. The measure is a bid to promote foreign investment and to improve the struggling economy.

The 4 groups that the government hopes to attract to Thailand are high income earners, foreign retirees, experts in different fields, and people who want to use Thailand as their base of work. Government spokesperson Thanakorn Wangboonkongchana says Thailand is setting a target goal of getting 1 million of these high potential foreigners over the next 5 years. The expectation is that these foreigners will spend and invest enough over a 5 year period to inject 1 trillion baht into the Thai economy, specifically 800 billion in foreign investment and 270 billion in taxes. Thanakorn says foreign experts who are enticed by this measure will strengthen the private business sector.

In order to bring in these high potential individuals, the government plans to issue a new long term visa or smart visa. The visa will grant privileges like not having to notify Thai authorities every 90 days, also known as the 90 day report, an errand many residents have to run. Thanakorn adds that laws and regulations concerning land ownership will also be modified to attract foreign investors. He says other incentives include tax exemptions.

He went on to say that the requirement that dictates 4 Thai nationals have to be employed for every foreigner hired will also be removed. The plan is being further developed by the Board of Investment, the Interior and Labour ministries, the Royal Thai Police, the Finance Ministry and the National Economic and Social Development Council. The NESDC will assess the plan every 5 years and will review extending any of the incentives as they deem necessary.



Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Jack is from the USA, has a B.A. in English, and writes on a variety of topics. He lives in Thailand.

Follow Thaiger by email:

Road deaths3 hours ago

Dead woman in car pulled out of Kanchana Buri canal

World3 hours ago

As Iran revolts, president vows to deal with protests

Election4 hours ago

POLL: Top 2 picks for prime minister are “nobody” and Ex-PM’s daughter

Sponsored2 days ago

From regulation to cannabis delivery, here’s what you need to know about cannabis in Thailand

China5 hours ago

No word from China on Xi military coup whispers

Pattaya5 hours ago

Intoxicated Pattaya tourist allegedly punches elderly Australian man in face

Thailand6 hours ago

Thai TikTok star detained at Singapore airport over huge amount of cash

Join the conversation on the Thaiger Talk forums today!
Kanchanaburi7 hours ago

Kanchanaburi school director found dead in canal

Pattaya8 hours ago

Small children in Pattaya learn to get help when locked in hot cars

Chiang Mai8 hours ago

Heavy rains collapse part of Chiang Mai’s ancient city wall

Events9 hours ago

6-hour whiskey drinking contest draws criticism

Pattaya10 hours ago

Pattaya official urges mayor to expand legal nightlife zone

Thailand10 hours ago

Things you can do in Thailand during the rainy season

Indonesia11 hours ago

Earthquake in Indonesia felt throughout southern Thailand

Patong12 hours ago

Foreign women rescued from rip current in Patong

Thailand1 day ago

Woman smashes up her 1.5 million baht car over feud with Ford Thailand

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11