Thailand Bets on Wealthy Visitors With 10-Year Visa Scheme

Thailand officially launched its 10-year visa programme for foreign nationals on Thursday, Sept. 1. In a report by Bloomberg, the initiative is said to be part of the Kingdom’s plan to increase tourist arrivals and boost economic growth to 4.2% next year.

According to Chayotid Kridakion, an adviser to Thailand’s prime minister, high-net-worth individuals and professionals may start applying online for a 10-year stay (or more) in the Kingdom. He said the Thai government has set a target of one million foreign visitors to the country in five years.

Eligible to apply for the visa programme are wealthy global citizens, pensioners, work-from-home professionals, and highly skilled workers. Some of the key benefits of the visa include renewable 10-year validity, multiple re-entry permit, permission to work in Thailand, a 17% personal tax rate for skilled individuals, fast-track service at airports, and more.

Meanwhile, the Joint Foreign Chambers of Commerce mentioned that the new visa programme will make Thailand an attractive and ideal place to work. Chairwoman Vibeke Lyssand Leirvag said: “If we do this right, the five-year million target and one trillion-baht domestic spending should be reachable.”