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Bangkok Post
Bangkok Post
National

Govt crows as foreign cash rolls in

Nearly 3,000 foreigners have applied for long-term resident (LTR) visas and about 500 regional headquarter projects have obtained promotional privileges from the state, deputy government spokeswoman Traisuree Taisaranakul said yesterday.

A total of 2,920 foreigners applied for LTR visas from Nov 1 last year to Feb 28, Ms Traisuree said.

They included 195 ultra wealthy people, 1,011 wealthy retirees, 771 foreigners who want to work from Thailand, 390 specialists and 553 followers of those applicants.

European applicants at 940 formed the biggest group of LTR visa applicants, followed by 517 Americans and 325 Chinese.

The LTR Visa, which aims to attract high-potential foreigners to Thailand in order to boost the country's economy and foreign investments, was introduced on Sept 1 last year for non-Thais to stay in the kingdom for up to 10 years.

The visa also offers a range of tax and non-tax benefits to attract new foreign residents, technologies and talent to stay or work in the country.

High wealth individuals, well-to-do pensioners, work-from-Thailand professionals and highly skilled professionals or specialists are the specific groups being courted.

"Thanks to the government's clear policy and the success of last year's Apec summit [in Bangkok], Thailand has attracted almost 3,000 high-calibre people and over 500 regional headquarter projects by foreign companies.

"And the Board of Investment has offered promotional privileges to about 500 foreign companies keen to build their regional headquarters in Thailand, with a combined investment of 13 billion baht," Ms Traisuree said.

She said Prime Minister Prayut Chan-o-cha has attached high importance to human resources as the country's competitiveness depends on it.

"To enable Thai people to realise their potential, the government has introduced a number of policies that include turning the country into a hub for global talent and enticing foreign firms to set up regional headquarters here," she said.

These moves will offer employment opportunities for Thai people as well as a transfer of knowledge through training to helping them to develop, said Ms Traisuree.

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