Thailand: BoI wants businesses to promote LTR visas

• Feb 24, 2023

The Board of Investment plans to enlist private companies to boost response to the long-term resident (LTR) visa programme targeted at highly skilled foreign workers and wealthy pensioners.

The firms will assist government agencies to draw more applications for the 10-year visas introduced last year, according to Narit Therdsteerasukdi, the BoI secretary-general. They will also promote the programme locally and in other countries among prospective participants, he said.

The move to lure affluent foreigners with tax breaks and other financial incentives, which mirrors steps by countries including Singapore and the United Arab Emirates, is an attempt to bolster an economy that grew by just 2.6% last year, the slowest pace in Southeast Asia. Authorities have set a target to attract one million such applicants over the next five years.

About 2,800 foreigners have sought the visas since the government rolled out the programme last September. Pensioners made up 35% of the applicants, followed by professionals seeking to work remotely from Thailand and wealthy global citizens, Narit said.

Source: https://www.bangkokpost.com/business/2513605/boi-wants-businesses-to-promote-ltr-visas