Four categories of tourists will be qualified for 10-year visas if they earn $80,000 a year and have $1 million in assets. Radhika Rao, a Singaporean economist, claimed that the pandemic altered workplace regulations and ushered in freedom of location and employment scope. Currently, nations are making an effort to profit from this by providing long-term residency with alluring incentives. We can achieve the 5-year 1 million target and 1 trillion baht domestic spending if we do this well. The program will also help Thailand promote smart devices, digital technology, and electric vehicles. With so many expats working in Thailand for extended periods of time, LTR has the longest validity duration, which satisfies a requirement. Work permits and visas, according to Vibeke Lyssand Leirvag, head of the Joint Foreign Chambers of Commerce in Thailand, have been the biggest barrier to business in Thailand over the past ten years. LTR provides a remedy.
According to Chayotid, the visa policy will result in $27 billion in annual investment and real estate purchases by new immigrants. The new approach would do away with the need for one-year work, retirement, or marriage permits, which necessitate numerous trips to local courts, attorneys’ offices, and banks. The long-term resident visa program will aid Thailand’s post-Covid-19 economic recovery, according to Duangjai Asawachintachit, secretary-general of the Board of Investment in Thailand. According to the Joint Foreign Chambers of Commerce, Thailand will become a more appealing country to live and work in thanks to the new visa policy. It has multiple entry points, a work permit, and up to four dependents are covered. The rule requiring four Thai employees for every one foreign employee will not apply to businesses employing these visas. “Host countries rely on such immigration to expand the pool of skilled workers and strengthen the economy through increased demand.”
Foreign professionals can now apply for Thailand’s new 10-year visa
More from ThailandMore posts in Thailand »
- Nakhon Ratchasima Welcomes Relief: Meteorological Department Predicts Summer Storms Amid Heatwave
- French Tourists’ Unexpected Adventure on Chon Buri Coast: A Night on Manwichai Island
- Thailand’s Bold Step Towards Enhanced Living: Prime Minister Srettha Announces 400 Baht Minimum Wage Hike
- True Corporation and ZTE Forge Groundbreaking Telecom Partnership to Power Thailand’s Digital Transformation
- ONESIAM SuperApp and Cathay Unite for a Luxurious Shopping and Travel Experience
- Bangkok Embraces Future with MRTA’s Free Smart Parking System Trial
- Piyasak Ukritnukun Revolutionizes Finance with TIDLOR’s Strategic Overhaul for Growth
- Bangkok’s Battle Against COVID-19: Dr. Thongchai Keeratihattayakorn Addresses AstraZeneca Vaccine Concerns
- Major Wildlife Smuggling Bust in Chumphon: Over a Thousand Tortoises and Lemurs Saved by Thai PoliceMajor Wildlife Smuggling Bust in Chumphon: Over a Thousand Tortoises and Lemurs Saved by Thai Police
- Bangkok’s Covid-19 Vaccination Crusade: Dr. Thongchai Keeratihattayakorn Addresses AstraZeneca Concerns
- Pattani Showdown: Bravery and Strategy in Thailand’s Thung Yang Daeng District Clash
- HE Darkey Ephraim Africa Champions Thailand-South Africa Relations: A Tale of Agricultural and Diplomatic Harmony
More from VisaMore posts in Visa »
- How to select a Trustworthy Visa Agency in Thailand
- E-visas are currently accessible in 38 cities and 23 nations
- Immigration authorities will revise visa extension requirements
- Utilizing facial recognition technology, an anti-overstay campaign is implemented
- Thailand increases its e-Visa service to 23 countries around the globe
- Are you a digital nomad or are you constantly on the move?
- To entice visitors from other countries, Thailand could modify its LTR visa
- Philippines provides an appealing alternative to Thailand’s 10-year LTR visa
- Thailand will continue the Smart Visa program to attract talent
- Affluent Americans, Chinese, and Brits lead the list of new Thai visa applicants
- 10 Year Long Term Resident Visa – Applications Open
- Will the LTR visa’s benefits tempt foreigners to contribute to the economy?
Be First to Comment