Having failed to recover its pre-pandemic tourism activity, Thailand now wants to attract “digital nomads”. Indeed, the country relies on these foreign teleworkers to boost its growth and consumption, weakened by Covid-19. To permanently attract them to its territory, the Thai government will give them access to a long-term renewable visa. This document will allow them to stay and work in the territory for ten years, benefiting from several advantages.
The program, for which applications will open from September 1, hopes to attract “foreign human resources with high potential and skills,” said Narit Therdsteerasukdi, deputy general secretary of the investment council of Thailand, in the nikkei asian.
A tax rate reduced to 17%
But the long-term visa will not only be reserved for foreign teleworkers. It is aimed at “wealthy global citizens”, “wealthy retirees”, “professionals working from Thailand” and “highly skilled professionals”, says a Thai Board of Investment (BOI) document dedicated to the Visa.
To increase its attractiveness, the country will guarantee many advantages to the holders of this visa. The latter will benefit from an income tax rate reduced to 17% -while it can go up to 35%- and greater flexibility compared to the rules that are usually applied to foreigners.
For example, they will not be affected by the obligation to employ at least four Thai citizens, an obligation that is normally incumbent on foreign employers. They may also have priority at all international airports.
$80,000 per year of income
In return, they will have to meet a number of conditions. To be eligible for the program, these residents must have earned $80,000 per year for at least two years, have at least five years of experience, and work for a company that has generated at least $150 million in business income for three years.
The Thai government hopes to attract a million people from Japan, South Korea, China, the United States and Europe in the next five years. asked by him nikkei asianNarit Therdsteerasukdi said he expects visa holders to contribute $28,000 per person to the local economy.
If tourism activity is gradually resuming, in Thailand it is still far from its pre-pandemic level. While the territory lifted all its Covid-19 restrictions from July 1, the government expects to receive 8 million tourists in total in 2022. By comparison, Thailand attracted, just before the health crisis, 40 million visitors to the year, reports. Fortune.
Source: BFM TV
