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  1. #1
    Thailand Expat harrybarracuda's Avatar
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    Govt approves plan to lure 'high potential' foreigners to economy

    Standard "I'll believe it when I see it" reaction recommended.

    The government on Tuesday approved measures to attract "high potential" foreigners, including longer term visas and tax benefits, officials said, as the country tries to boost its flagging economy.

    The government expects to draw a million foreigners including wealthy global citizens, wealthy pensioners and high-skilled professionals, to spend 1 trillion baht per year, a government source told Reuters.

    A government spokesperson later confirmed the information.
    Govt approves plan to lure 'high potential' foreigners to economy

  2. #2
    Thailand Expat
    taxexile's Avatar
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    Govt approves plan to lure 'high potential' foreigners to economy
    the word "lure", so often used when referring to foreigners and their money coming to thailand, has a distinct negative connotation—one of bait and switch. phrases like "after luring her into his house, ..." and "the victims were lured into following..." are common in the news. if you want to attract people using real content, then this is a very bad name for the project.

  3. #3
    Hangin' Around cyrille's Avatar
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    Quote Originally Posted by taxexile View Post
    the word "lure", so often used when referring to foreigners and their money coming to thailand, has a distinct negative connotation—one of bait and switch. phrases like "after luring her into his house, ..." and "the victims were lured into following..." are common in the news. if you want to attract people using real content, then this is a very bad name for the project.
    Umm…you do realise everyone communicates first in Thai and then a bkk post hack has written the story in English, right? I’d have thought a specialist scientific technical English teacher would at least realise that.

    Who says it’s the name of any project?

    The only words in quotes are “high potential”.

  4. #4
    CCBW Stumpy's Avatar
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    Sounds like a scam right out of the gate. As Tax said "Lure" has the ring of ripping off high potential foreigners. Using a word like "Attract" sounds better... Either way, It will never work. They will make it a convoluted mess of rules which will drive all those they are attempting to lure in...away.


    Next pipe dream please........

  5. #5
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by JPPR2 View Post
    Sounds like a scam right out of the gate. As Tax said "Lure" has the ring of ripping off high potential foreigners. Using a word like "Attract" sounds better... Either way, It will never work. They will make it a convoluted mess of rules which will drive all those they are attempting to lure in...away.


    Next pipe dream please........
    None of these digital gonads would pay tax anyway.

  6. #6
    I am not a cat
    nidhogg's Avatar
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    Jesus. Another rehashing of this old pipe dream. As they will not make any meaningful changes to visas, work permits, land ownership, company ownership, etc - they are simply rehashing the same old crap. Elite visa anyone?

  7. #7
    Hangin' Around cyrille's Avatar
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    Well they might be clueless, but at least they're not going down the same route as Malaysia.

    Yet.

  8. #8
    Thailand Expat
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    Quote Originally Posted by cyrille View Post
    Well they might be clueless, but at least they're not going down the same route as Malaysia.

    Yet.
    I suspect that Malaysia's revision of the MM2H program will be seen as an opportunity by Thailand.

  9. #9
    Hangin' Around cyrille's Avatar
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    What effect do you think it will have on you, shutree?

    I think you mentioned somewhere that you planned to renew your MY visa.

  10. #10
    Thailand Expat
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    cyrille
    Umm…you do realise everyone communicates first in Thai and then a bkk post hack has written the story in English, right?
    wrong, it just says a lot about the quality of the teflers they learnt from, you silly tefling numpty.

    a specialist scientific technical English teacher
    and i taught english to japanese engineers and bankers for 6 months, i certainly was not dumb enough to make a career of teaching english to thick giggly chickenheads.



    เห็นชอบมาตรการดึงดูดต่างชาติศักยภาพสูง พำนักระยะยาว เป้า 5 ปี 1 ล้านคน

    here is the article from todays thai rath, it uses ดึงดูด the word for "to arouse interest", ask your landlady for a full translation of the article.

    เห็นชอบมาตรการดึงดูดต่างชาติศักยภาพสูง พำนักระยะยาว เป้า 5 ปี 1 ล้านคน

  11. #11
    Hangin' Around cyrille's Avatar
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    Quote Originally Posted by taxexile View Post
    here is the article from todays thai rath, it uses ดึงดูด the word for "to arouse interest"
    And that supports your silly and irrelevant rant about the word 'lure' and its supposed use by the Thai govt. in what way, you pin-headed buffoon?

    Do you even remember what you posted about, pops?

  12. #12
    Thailand Expat
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    Quote Originally Posted by cyrille View Post
    What effect do you think it will have on you, shutree?

    I think you mentioned somewhere that you planned to renew your MY visa.
    A very good question.

    My MM2H visa requires renewal because my passport is expiring. I'm not sure that I want to jump through all the hoops of getting down there and maybe getting knocked back and then coming back to Thailand again, with quarantines on both legs of the journey. I am hoping that both countries will ease their entry requirements then I'll give it a go. I have no chance of raising a million MYR deposit in Malaysia as the new proposals require so I might just withdraw my current MM2H bank deposit and let the idea go.
    Looking ahead, I do wonder if Thailand will look at what Malaysia is doing and decide to follow by making the long term Thai visas more expensive. This could easily be done by doubling the bank deposit or monthly income requirements, which would still leave Thailand more competitive than Malaysia whilst excluding many exising retirees. If that happens then I'll be running out of options. Except for the nuclear option: marriage. No, forget I said that.

  13. #13
    Hangin' Around cyrille's Avatar
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    The whole idea and especially the timing of these MM2H changes seems unfathomable.

  14. #14
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by cyrille View Post
    The whole idea and especially the timing of these MM2H changes seems unfathomable.
    Raising prices when you're not making as much money as you used to is not unique to Malaysia.


  15. #15
    Thailand Expat misskit's Avatar
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    Cabinet approves long-term visas to lure 1 million wealthy foreigners

    The Cabinet on Tuesday approved new visa and tax measures to attract “high-potential” foreigners, in a bid to boost Thailand’s Covid-hit economy.






    The goal is to attract one million wealthy foreigners within five years, generating about 1 trillion baht of spending, 800 billion baht of investment and 270 billion baht in tax income.


    The new measures will offer long-term residency visas for four categories of foreigners: rich global citizens, wealthy retirees, professionals working in Thailand, and high-skilled workers.


    To qualify as “rich global citizens”, foreigners must invest at least US$500,000 in Thai government bonds, Thai property or foreign direct investment, or have earned a minimum $80,000 in the past two years and hold at least $1 million in assets.


    “Wealthy retirees” must either invest at least $250,000 in Thai government bonds/property and have a minimum annual pension of $40,000, or have a pension of least $80,000.


    Professionals working in Thailand will qualify if they have earned at least $80,000 in the past two years and hold intellectual property or a class-A scholarship with five years of research.


    High-skilled professionals must have earned a minimum $80,000 in the past two years, or have a master's and work experience in a targeted industry.


    Spouses and dependents will also qualify for long-term visas.


    Holders will also be exempted from the need to report to immigration authorities every 90 days.

    Cabinet approves long-term visas to lure 1 million wealthy foreigners

  16. #16
    Thailand Expat helge's Avatar
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    Quote Originally Posted by taxexile View Post
    "to arouse interest"
    Attract ?

  17. #17
    I am not a cat
    nidhogg's Avatar
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    80000. Abut 2.6 million baht. Hmmmm. Interesting.

  18. #18
    Thailand Expat
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    Same wishful thinking as the previous plans, why not 10M+ spending each about 2 millions bahts per week...aim for the stars.

    How many foreigners actually came with the sand box program that was aiming for 100k in 3 months?

    "Luring" isn't a nice term indeed, journalists or editors' choice ...maybe they do it on purpose to convey their opinion on this plan, or they don't fully understand its meaning.
    Last edited by Farang Ky Ay; 15-09-2021 at 01:00 AM.

  19. #19
    Thailand Expat Saint Willy's Avatar
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    Quote Originally Posted by cyrille View Post
    The whole idea and especially the timing of these MM2H changes seems unfathomable.

    Good news. Malaysia has decided that they will reverse the MM2H changes. Probably.

  20. #20
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    Quote Originally Posted by Shutree View Post
    I do wonder if Thailand will look at what Malaysia is doing and decide to follow by making the long term Thai visas more expensive.
    The simpletons running the show seem as in capable to holding to a policy as a kid deciding which sweet to have given free reign in a sweet shop. How they think any potential monied up individual with any sense will view their flip flopping as creating an environment attractive enough for them to land the golden goose in is beyond me. I feel for those caught up in the make shit up as you go along crossfire but investing in a country where you cannot own or easily liquidate is kind of mad imo.

  21. #21
    Chinese spy sabang's Avatar
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    Heard it all before, and don't believe it. The generals/ yellow shirts distaste for foreigners is well known, and thoroughly exposed. We talk too mutt.

  22. #22
    CCBW Stumpy's Avatar
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    Quote Originally Posted by misskit View Post
    High-skilled professionals must have earned a minimum $80,000 in the past two years, or have a master's and work experience in a targeted industry.
    Interesting.....

    But I will venture to guess that it only applies to "New" applicants. The 90 day no check-in is appealing but again quite honestly not a super incentive for me as its not a big deal. I also assume they would tie the deal based on having a work permit.

  23. #23
    Guest Member S Landreth's Avatar
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    Quote Originally Posted by misskit View Post
    “Wealthy retirees” must either invest at least $250,000 in Thai government bonds,........
    No!

    Quote Originally Posted by misskit View Post
    To qualify as “rich global citizens”, foreigners must invest at least US$500,000 in Thai government bonds,.......
    Fvck no!

    The Thai O-X Visa is so much easier. If you’re in and out of the country as much as we come and go,…….hardly any 90 day reporting is necessary (but then there’s Covid ).

  24. #24
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    Is this a variation of trickle down economics? I don't see how having a million "high potential" foreigners in the kingdom will make much of a difference to the overwhelming majority of Thai people.

    For those who cook up these schemes the welfare of these average person in the country isn't a consideration, so there's that.
    Pues, aquí estamos.

  25. #25
    I am not a cat
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    Quote Originally Posted by S Landreth View Post
    No!



    Fvck no!

    The Thai O-X Visa is so much easier. If you’re in and out of the country as much as we come and go,…….hardly any 90 day reporting is necessary (but then there’s Covid ).
    Just to note that according to my local office, going out the country does not reset the 90 day reporting. Going to the office and extending my visa does not reset the 90 day reporting. I get that every office is different, but that is how the one I report at sees it.

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