Thailand’s new visa program which targets wealthy foreigners has attracted hundreds of individuals after its launch earlier this month, with US and China leading demand.
Thailand has received around 400 applications for its new visa program just 12 days after being launched, according to a «Bloomberg» report citing Narit Therdsteerasukdi deputy secretary-general of the country’s Board of Investments. US nationals led the way, making up 20 percent of the visa applications, followed by China at 15 percent and the UK at 10 percent.
«We also have a friendly environment and are open to work with foreigners,» Narit said.
Target Groups
The visa program targets three main groups: wealthy pensioners, remote workers, wealthy global citizens, and highly skilled professionals. According to Narit, these groups accounted for 40 percent, 30 percent, 15 percent and 15 percent of applications, respectively.
Visitors will be granted a 10-year renewable, multi-entry visa with permission to work, eligibility for tax breaks, a 17 percent tax ceiling on the personal income of skilled professionals and extension of benefits to spouse and children.
The Thai government aims to achieve the equivalent of 1 trillion baht ($27.6 billion) equivalent of economic benefits annually via investments and property purchases by the new entrants. The program is part of broader efforts by local authorities to build on a post-pandemic rebound.
