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Thailand’s Innovative Visa Program attracts 56,000 High Skill foreigners
According to the Board of Investment (BOI), Thailand hosts over 50,000 foreign nationals participating in investment promotion projects, with individuals hailing from nations including the United States, Russia, the United Kingdom, China, Germany, Japan, and France.
Thailand has recently seen a significant influx of foreign professionals, with 56,000 high-skilled individuals arriving on its shores, thanks to the country’s innovative visa programs. These initiatives are part of Thailand’s strategic efforts to boost its competitiveness and transition towards a new economic model.
Key Takeaways
- Thailand holds more than 50.000 foreigners under the investment promotion projects work program.
- Mr. Chai Wacharong explained that the increasing demand for foreigners visiting the country shows the success of the country’s tourism policy.
- Thailand recently announced that 36 nationals from different countries can apply for visas on arrival.
The country currently has more than 56,000 foreigners with approved visas and various work permits, with more than 50,000 experts and executives.
The Long-Term Resident Visa (LTR visa) and the Smart Visa are two key programs designed to attract a diverse group of high-potential foreigners, including experts, remote workers, investors, and retirees. The LTR visa offers a stay of up to 10 years with unlimited entry and exit, a reduced income tax rate for highly skilled experts, and a relaxed reporting period to the Immigration Department.
Moreover, the Smart Visa program targets highly skilled professionals, investors, executives, and startup entrepreneurs wishing to work or invest in Thailand’s targeted industries. This visa grants up to a 4-year stay, exemption from the work permit requirement, and additional privileges.
Mr. Chai Wacharong, the spokesperson for the Prime Minister’s Office, explained that the increase in the number of tourists reflects the success of the tourism path that the country is undertaking.
Recently, Thailand Business News reported that Thailand extended the stay period to 60 days for certain groups of tourists such as digital nomads, students, and people looking to retire in the country.
Also, as part of its new project to increase tourism, it will allow 36 nationals of different countries to apply for visas on arrival.
Wacharong added that the Board of Investment (BOI) has worked together with the Immigration Bureau and the Ministry of Labor to facilitate the entry and stay of foreigners with special skills (talent) and investors.
According to the Board of Investment (BOI), Thailand hosts over 50,000 foreign nationals participating in investment promotion projects, with individuals hailing from nations including the United States, Russia, the United Kingdom, China, Germany, Japan, and France.
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