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Government tentatively approves visa amendments to bring in more investments

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In an attempt to bring in future investments to the country, the government has tentatively approved amendments to the criteria of granting permanent residence and smart visas to foreigners. The Centre for Economic Situation Administration says the new amendments may allow foreigners who purchase condominium units under certain rules to gain permanent residency. Such stipulations, however, include applicants purchasing the properties without using a mortgage loan and not selling or transferring the properties for a period of 5 years after purchasing.

As for those foreigners who wish to develop start-ups or create jobs in fields away from science and technology, the amendments would decrease restrictions for granting such investors smart visas. It also could cover independent experts who do not have a work contract in Thailand and allow current smart visa holders to work other jobs that are not listed on the visa.

Originally, Thailand’s smart visa programme was created to attract skilled workers, executives, investors and entrepreneurs to work in specific industries. As the new amendments have been approved in principle, there is no word yet on when they will be made final.

SOURCE: The Nation Thailand

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4 Comments

4 Comments

  1. Avatar

    somsak

    Thursday, September 17, 2020 at 2:37 pm

    how about those who has already invested and cannot get visa inside the country without paying agent corrupt money?? HOW about fix existing problems before getting new ones in.

  2. Avatar

    georg

    Thursday, September 17, 2020 at 9:31 pm

    The problem is not the criteria, but the barriers to entry, e.g.: specifying how much money needed to front up and how many people to employ. Real startups can be bootstrapped with hardly any money or people, and just skills and experience from a foreigner.

  3. Avatar

    Gary

    Friday, September 18, 2020 at 10:37 am

    No point owning property, you aren’t allowed in to the country for the smallest reasons, like now.

  4. Avatar

    Toby Andrews

    Saturday, September 19, 2020 at 3:42 pm

    What guarantees will the Thais give that they will not change the rules after the property is bought?
    I would not believe a Thai if they told me water was wet.
    They could at any time ban all further sales of property to foreigners – think what that would do to the price of Thai property?
    Not likely huh?
    Well they did it in Goa with 24 hours notice.

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