Thailand to Introduce New 10-Year Visa For Foreigners

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According to some media reports, Thailand is now planning to introduce a new 10-year visa programme in September to attract skilled workers and investors.

The 10-year visa programme is part of an effort to bring in one million people from Japan and other advanced economies over the next few years. The new long-term visa is intended to boost the competitive market in key industries such as automobiles, electronics, and biotechnology.

In an interview with Nikkei Asia, Thai Board of Investment (BOI) Deputy Secretary-General Narit Therdsteerasukdi stated that the long-term resident visa is aimed at “foreign human resources with high potential and skills,” with applications accepted beginning September 1.

Thailand seeks experts from companies or research institutions involved in more than ten industrial or technological categories, such as electric vehicles, electronics, medicine, and defence.

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A digital work permit will be issued to successful applicants. For eligible visa holders, the government will reduce the personal income tax rate, which can sometimes reach 35 per cent, to 17 per cent flat.

For new visa holders, companies will be exempted from rules requiring the hiring of four Thai nationals per foreign employee, a regulation currently in place to protect the domestic workforce.

The introduction of new long-term visas by Thailand coincides with a rise in regional competitiveness to establish new supply chains and industries. Supporters of the kingdom’s new visa policy include those in the tourism sector, which was severely hurt by the Covid-19 pandemic.

(Source: Nikkei Asia)

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