Thailand now plans to launch a new 10-year visa program from September to attract skilled workers and investors who have interest to work or invest here.
The 10-year visa program is part of an effort to bring in one million people from Japan and other advanced economies over the next few years. The new long-term visa aims to boost a competitive market in key industries such as automobile, electronics and biotechnology.
Thai Investment Board (BOI) Deputy Secretary-General Narit Therdstirasukadi said the long-term resident visa is aimed at “foreign human resources with high potential and skill”, with applications being accepted from 1 September.
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Thailand seeks experts from companies or research institutions involved in more than ten industrial or technical categories, such as electric vehicles, electronics, medicine and defense.
Successful applicants will be issued a digital work permit. For eligible visa holders, the government will reduce the rate of personal income tax, which can sometimes reach 35 percent, to 17 percent.
For new visa holders, companies will be exempt from rules that require hiring up to four Thai nationals per foreign worker, a regulation currently in place to protect the domestic workforce.
The introduction of new long-term visas by Thailand coincides with increased regional competition to establish new supply chains and industries. Supporters of the state’s new visa policy include people from the tourism sector, who were badly hit by the Covid-19 pandemic.
In an interview with Nikkei Asia, Thai Board of Investment (BOI) Deputy Secretary-General Narit Therdsteerasukdi stated that the long-term resident visa is aimed at “foreign human resources with high potential and skills,” with applications accepted beginning September 1.
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