Top professionals, eligible high net-worth individuals and retirees can start applying online from Thursday to stay for as long as 10 years in Thailand, according to Chayotid Kridakon, an adviser to Thailand’s prime minister. The government has set the target of attracting one million wealthy or talented foreigners to the country over the next five years, he said at an event in Bangkok.
“The pandemic has disrupted workplace policies and introduced flexibility in terms of location as well as job scope, with few countries looking to capitalise on this shift by offering long-term residencies with attractive sops,” said Radhika Rao, an economist with DBS Bank in Singapore. “Host countries also count on such arrivals to add to the talented labour pool in the country as well as boost the economy from incremental demand lift-off.
“The long-term resident visa programme will help Thailand in the post-Covid economic recovery,” Duangjai Asawachintachit, secretary-general of Thailand’s Board of Investment, said Wednesday. “The validity period of LTR is probably the longest, and with so many expats working in Thailand for a long time, this meets a long-standing demand.”on a rebound in foreign tourist arrivals to power economic growth next year to 4.2%, which would be the fastest pace of expansion since 2018.