Friday, August 19, 2022
Islamabad (Urdu Point. DW Urdu. August 19, 2022) Foreign professionals have been allowed to work from Thailand in Thailand's new visa scheme. To avail this visa scheme, however, a person will need to show good capital in the bank account.
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According to Thailand's scheme, rich foreigners will be issued a ten-year 'golden visa'.
Initially, these visas will be given to people associated with technology and digital sectors under the name of 'Work from Thailand', according to the Thai government. According to the government plan, this project will benefit the local economy by 26 billion euros over the next ten years.
Speaking to DW, Thailand Board of Investment Secretary-General Naret Thirdsterasukdi said he estimated that at least 50 percent of those who would benefit from the visa scheme would be from Europe. The long-term visa scheme will largely attract our target group in Europe.
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He added, Thailand is already a favorite destination for European citizens. The level of interest we are already seeing from Europeans in this campaign suggests that it will become a well-known scheme for even more people after launch.”
EU member states are leading the way in terms of investment in Thailand after Japan.
By the end of 2020, the overseas shares in Thailand from European countries were nineteen eight billion. It should be noted that Outward stock indices are used to indicate FDI through foreign direct investment.
Who can benefit from this visa scheme?
Under this new extended visa scheme, work visas are being given to foreigners in four different categories from September 1.
For this, a person has to show assets of one million dollars and an annual salary of eighty thousand dollars. Although there are slight differences in these regulations among different groups, the Thai government is opening the way for "highly skilled professionals" needed in essential fields for the country.
In the 'Work Provide Thailand Professionals' category, the applicant has to show employment with a company in the technology sector, which has a turnover of at least one hundred and fifty million dollars in the last three years.
Those in the 'wealthy global citizen' category must invest at least $500,000 in the Thai economy to apply, which they can do in the form of buying bonds or real estate.
A special tax rate of 17% has been set for applicants in the 'Highly Skilled Professionals' category, compared to 35% for those earning an annual salary of $140,000 or more. This visa will be valid for ten years and may be renewed once the holder is allowed to work in Thailand.
David Hutt (A.S.)
