BANGKOK, Oct 20 (TNA) – The cabinet 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.
The government expects the program will attract 10,000 foreigners with high purchasing power and consequently 300 billion baht will be circulated in the Thai economy.
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.
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. (TNA)