Any ETA on the Thai 10-year visas for wealthy foreigners

[DaveFischer]

https://www.thaienquirer.com/32668/cabinet-approves-long-term-10-year-visa-to-attract-foreignershttps://www.ft.com/content/e24ca28c-2336-412a-8d0b-66da3c069c06
The measures include:

• A 10-year “long-term resident visa,” also for spouse and children
• A work permit
• Exemption from foreign income tax
• Land and real estate ownership and rentership rights
• 90 days report not required
• No quota of hiring four Thais for every one foreign employee

The four groups that can apply for the visa include:

• Wealthy global citizen: People with a high income of at least US$80,000 in income over the past two years and a minimum asset of $1 million
• Wealthy pensioner: Pensioners, age 50 and above, with a stable pension of at least $80,000 over the past two years
• Work-from-Thailand professional: Foreign workers with employers outside of Thailand, more than five years of working experience and make at least $80,000 over the past two years
• High-skilled professional: Professionals working in targeted industries such as future services, infrastructure buildings, logistical systems and digital systems who make at least $80,000 over the past two years

This sounds like a dream. Any realistic ETA on this?

 

[troubled soul]

It is official website for Thai elite Visa.

https://www.thailandelite.com/
1 to 4 months to process visa application.

 

[fshore]

https://www.thaienquirer.com/32668/cabinet-approves-long-term-10-year-visa-to-attract-foreignershttps://www.ft.com/content/e24ca28c-2336-412a-8d0b-66da3c069c06
The measures include:

• A 10-year “long-term resident visa,” also for spouse and children
• A work permit
• Exemption from foreign income tax
• Land and real estate ownership and rentership rights
• 90 days report not required
• No quota of hiring four Thais for every one foreign employee

The four groups that can apply for the visa include:

• Wealthy global citizen: People with a high income of at least US$80,000 in income over the past two years and a minimum asset of $1 million
• Wealthy pensioner: Pensioners, age 50 and above, with a stable pension of at least $80,000 over the past two years
• Work-from-Thailand professional: Foreign workers with employers outside of Thailand, more than five years of working experience and make at least $80,000 over the past two years
• High-skilled professional: Professionals working in targeted industries such as future services, infrastructure buildings, logistical systems and digital systems who make at least $80,000 over the past two years

This sounds like a dream. Any realistic ETA on this?

They said that they aim to attract a lot of tax revenue on this, so it will be interesting to see how they will define foreign sourced income.
Also, its still unclear who qualify for the work from Thailand category, if its just employees of big multinationals.

 

[Stec72]

Land and real estate ownership and rentership rights

They didn't take long to put a stop to that.
Restrictions on foreign residents’ land ownership in Thailand to remain

 

[Dasboot]

I would not trust any setup like this at all here... Economy is just too exposed for now, although that might change depending on how all of this unravels.

It has been a real nightmare for everyone caught in this situation, I ended up ditching both work permit and a newly minted company just to get onto a "traditional" retirement visa using a well connected agent...

The whole structure of Thailand is changing, for now its risky & negative, but longer term it might be a great thing where visas will be far easier than they've been the past decade or two!

 

[DaveFischer]

Does anyone have an idea when this will be in effect and when you can sign up?

 

[OTR365]

It does not look too bad, although I'm not sure if this is the final & complete list of requirements.