Bangkok: Thailand has announced updates to a long-term resident visa program to broaden its appeal to foreign experts, investors and executives in an effort to strengthen the Southeast Asian country’s talent pool and global competitiveness.
The changes, approved by the cabinet this week, include the expansion of target sectors for highly-skilled professionals to a wider range of non-STEM fields, such as development and sustainability as well as disaster and risk management, according to the Thailand Board of Investment (BOI).
The five-year minimum work experience requirement for professionals in a relevant field has been removed to increase accessibility for high-potential applicants in emerging industries, the BOI, which is in charge of the programme, said in a statement on Wednesday.
The updates also involve reducing the revenue threshold for companies that allow employees to work from Thailand and eliminating the minimum annual income requirement for visas under the wealthy global citizens category, shifting the focus to cumulative wealth and investments in the kingdom.
Adopting a more inclusive and competitive approach will strengthen Thailand’s position as a global hub for investment and high-potential talent, said BOI Secretary General Narit Therdsteerasukdi, Xinhua news agency reported.
“Smooth visa procedures are an essential part of our focus on the ease of doing business,” Narit added.
Introduced in 2022, the long-term visa programme offers a 10-year residence permit, a digital work permit and personal income tax privileges, among others, with over 6,000 applicants having successfully obtained their visas so far.
(IANS)
