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Incentive offered for foreign investment in property

Incentive offered for foreign investment in property

BANGKOK: The Cabinet has approved assistance for the property sector through the “Flexible Plus Program” that gives a work permit to any foreigner who invests at least US$1 million in Thailand.


By MCOT Online

Monday 25 October 2021, 10:00AM


Image: TNA

Image: TNA

The government expects the program will attract 10,000 foreigners with high purchasing power and consequently B300 billion will be circulated in the Thai economy, reports state news agency TNA.

Deputy government spokesperson Traisuree Taisaranakul said the approval was for a regulation of the Interior Ministry to offer “Thailand Privilege Cards” through the Flexible Plus Program.

With such cards, foreign holders can stay in Thailand for work. The program was aimed at attracting capable foreign investors with high purchasing power to Thailand to stimulate the property sector and related business and industries, she said.

Internal - Phuket Live Radio 89.5

Thailand Privilege Cards will be also available for lawful spouses and children who are not older than 20 years of age. Card holders can apply for non-immigrant visas that will be valid for five years per application throughout their investment under the Flexible Plus Program.

The privilege was planned for the foreigners who invest in three areas – the property sector according to the relevant rights of foreigners, companies or public companies and stock exchanges including common shares and debentures.



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christysweet | 28 October 2021 - 02:48:01

Yes wealthy people want to work in Thailand. Another harebrained scheme from clueless bureaucrats

Fascinated | 27 October 2021 - 22:26:13

10, 000 foreigners- have they been using TAT's magic calculator? Cloud cuckoo land. Looking at thai property assets in other countries why can't I just purchase 2-3 rai without any hassle. Very xenophobic .

Kurt | 27 October 2021 - 21:01:50

In non-thai thinking 'property' means house/condo, including the land below/around it ( garden). As long Thai feel not to accept that rest of the world thinking, discriminate foreigners, the property market will not revive. In my country Thai have the land included in property buying.

christysweet | 27 October 2021 - 19:09:00

Psst Rich people don't want to live in developing nations with corrupt police. They can afford higher priced prostitutes  in places far more pleasant to live. 

CaptainJack69 | 27 October 2021 - 12:36:11

If they want to incentivize foreigners to invest in property they need to allow foreigners to... invest in property.

Non-Thai's are forbidden to own land here. It's outdated racist thinking and it needs to change.

 

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