PUBLISHED: 5 Jun 2024 at 04: 06
As part of a long-term plan to drive and maintain economic growth, the government has set out to increase the nation’s competitiveness by becoming a hub for experienced foreigners.
Premier Srettha Thavisin is pushing the nation to new heights by providing a slew of new visa types to bring foreign skill, according to a spokesman for the government Chai Wacharonke on Tuesday.
Mr. Chai cited information from the Board of Investment ( BOI ) and said that Thailand has granted more than 56, 000 foreign nationals who are experts in projects being promoted by investment work visas and work permits.
There are more than 4, 000 holders of long- term resident ( LTR ) visas, including 791 from the US, 479 from Russia, 332 from the UK, 277 from China, 236 from Germany, 207 from Japan and 198 from France.
There are also 2, 170 bright card holders– qualified personnel and investors in specific industries– and a business group, mostly from the US, Russia, the UK, Japan and Germany.
Mr Chai said the LTR visa is key to the government’s effort to draw four large- possible groups of foreigners: specialists, function- from- Thailand professionals, higher- income individuals and retirees accompanied by their spouses or companions.
With infinite re-entry and job permits, they are able to stay in Thailand for ten years thanks to the visa. Specialists can expect a significant reduction of up to 17 % of their personal income tax rates thanks to the extension of the 90-day reporting period with the Immigration Bureau ( IB ) to once per year.
Additionally, the cabinet is considering introducing a” Destination Thailand visa” (DTV ) for foreign nationals with digital skills in an effort to encourage more foreign talent to work and travel in the nation. This quarter is when DTV is scheduled to launch.
To facilitate the arrival of foreigners, talents, and investors in Thailand, the BOI has collaborated with the IB and the Labour Ministry to establish a One Start, One Stop Investment Center ( OSOS).
” The top has given necessity to attracting funding to improve the country’s attractiveness.
He believes that the effort to bring actions [for stimulating the economy and sustaining growth ] to line with the present will be a tool to place Thailand on the global investment map over the long run, according to Mr. Chai.