BANGKOK – Thailand currently has over 56,000 foreign nationals with approved visas and work permits. This includes about 50,000 foreign executives and experts working under investment promotion projects, according to the Board of Investment.
Mr. Chai Wacharong, the spokesperson for the Prime Minister’s Office, revealed on June 4, 2024 that this trend is a result of Prime Minister Srettha Thavisin’s efforts to boost Thailand’s competitiveness and shift towards a new economic model.
Measures to facilitate visa applications of various types have resulted in over 56,000 foreign nationals receiving approved visas and work permits in Thailand. These include visas and work permits for foreign experts working under investment promotion projects, Long-Term Resident Visas (LTR Visas), and Smart Visas aimed at attracting high-skilled personnel and investors in the country’s target industries through the One Stop Service Center.
Mr. Chai stated that the Board of Investment (BOI), in cooperation with the Immigration Bureau and the Ministry of Labor, has been continuously facilitating foreign nationals with special skills (talent), investors, and those wishing to work and reside in Thailand through the establishment of the One Start One Stop Investment Center (OSOS) on the 18th floor of Chamchuri Square Building.
This provides a one-stop service without the need to contact multiple authorities and includes the online visa and work permit system SINGLE WINDOW.
Data from the BOI shows that Thailand currently has over 56,000 foreign nationals with approved visas and work permits. This includes about 50,000 foreign executives and experts working under investment promotion projects, over 4,000 LTR visa holders from countries such as the United States, Russia, the United Kingdom, China, Germany, Japan and France, and 2,170 smart visa holders and startup group members, mainly from the United States, Russia, the United Kingdom, Japan and Germany.
The Long-Term Resident Visa (LTR visa) is a government measure designed to attract four groups of high-potential foreigners to Thailand: Experts, remote workers, high net worth individuals and retirees including their dependents. They can stay in Thailand for up to 10 years, have unlimited entry and exit and are allowed to work.
The income tax for highly skilled experts will be reduced to 17 percent and the reporting period to the Immigration Department will be relaxed from every 90 days to once a year. This visa has been granted to numerous experts and senior executives of leading international organizations with investments or branches in Thailand.
The Cabinet has also introduced a new type of visa, the Destination Thailand Visa (DTV), for foreign nationals with skills to work remotely through digital systems, such as remote workers or digital nomads who wish to stay in Thailand to work and travel. This visa is expected to be introduced in June to attract more highly skilled foreigners to work in Thailand.
“The Prime Minister attaches great importance to attracting investment and improving Thailand’s competitiveness. He believes that continuously improving and adapting various policies to current conditions will be the key to attracting foreign labor in the long run, thereby stimulating investment in modern, future and targeted industries for the maximum benefit of Thailand,” Mr. Chai said.
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