The Cabinet approved in principle the proposed Flexible Plus program aimed at attracting foreign investors.
Deputy government spokesman Traisuree Taisaranakul said the Cabinet at its weekly meeting approved the principle of the Flexible Plus program proposed by the Home Office, aimed at providing special benefits to foreigners with income. high seeking to invest in Thailand.
The program, which will be available to Thailand Privilege Card holders, requires at least US $ 1 million to be invested within one year of registration. Foreigners who apply for this program will be able to obtain work permits.
Investments that a foreigner can make in Thailand will be limited to real estate, public limited companies, stock exchanges, common stocks, bonds, and all investment units authorized by the Securities and Exchange Commission.
Holders of the Thailand Privilege Card, including their spouses and children under the age of 20, will be eligible for a âSmart Visaâ for temporary residence valid for 5 years. This visa can be renewed for the duration of their investments in Thailand.
The Tourism Authority of Thailand expects this special benefits campaign to attract 10,000 high-income foreigners and inject some 300 billion baht into the Thai economy. (NNT)