News Forum - 10-year visa to attract engineers and IT experts, boost technology development

[Thaiger]

The 10-year visa scheme for wealthy foreigners and highly-skilled professionals is expected to attract engineers and IT experts, potentially boosting technology development in Thailand as the country anticipates a shortage of digital workforce over the next few years. The long-stay visa scheme was approved in principle by the Thai Cabinet last month, targeting foreign investors, highly-skilled professionals and wealthy retirees in a bid to boost the economy. Chairperson of the Federation of Thai Industries, Supant Mongkolsuthree, told the Bangkok Post that engineers and IT experts should be given priority when applying for the new long-stay visa scheme. “Engineers and IT […]

The story 10-year visa to attract engineers and IT experts, boost technology development as seen on Thaiger News.

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[Artemis080]

All announcements. Light on actually anything happening, other than the use of the latest buzzwords - 10 year visa.

[TSS]

gotta love the buzz words: "set to lure, expected to attract, on track to bring in." then: sound of crickets 

[Stonker]

3 hours ago, Thaiger said:

... should be given first priority to receive the visas. 

Fair enough - otherwise they'll be trampled in the stampede ... 

[Cabra]

Pay scale is way too low in THA to attack western IT experts. 

[Satoshi]

Cabral. Not true. I setup an crypto consultancy here and am making the same revenue as I would in Europe, with less tax, better weather and good food :)

[JamesR]

So what are the details? I have 30 years experience in software engineering, a degree in the subject and a masters degree from Oxford in the subject, will that get me the visa or do I have to put in money as well?

[Freeduhdumb]

1 hour ago, JamesR said:

So what are the details? I have 30 years experience in software engineering, a degree in the subject and a masters degree from Oxford in the subject, will that get me the visa or do I have to put in money as well?

 

The visa scheme is targeted at 4 types of wealthy foreigners: rich “global citizens,” rich retirees, rich professionals working in Thailand, and highly skilled professionals.

To be considered a “rich global citizen,” the foreigner must invest at least 16.35 million baht, or US$500,000, in government bonds, property or foreign direct investment. They must have at least US$80,000 in income earned over the last 2 years and US$1 million in assets.

Rich retirees must be 50 years old or older. They must invest $250,000 in government bonds or real estate as well as have an annual income of at least US$40,000.

For those working in Thailand, to be eligible for the proposed long-stay visa, they must be close to retirement and have an annual income US$40,000. They must also have at least a master’s degree or rights in intellectual property with 5 years of experience in research.

https://thethaiger.com/hot-news/visa/thailand-looks-into-10-year-visa-for-the-rich-allowing-land-and-property-ownership

 

[samiam123]

9 hours ago, Satoshi said:

Cabral. Not true. I setup an crypto consultancy here and am making the same revenue as I would in Europe, with less tax, better weather and good food :)

What exactly does a crypto consultant do?  Please don't say you are another one of those crypto chads pumping coins and NFTs on youtube  & social media.

Edited February 2, 2022 by samiam123

[HiuMak]

Good news .....Indians will flock in batches

[JamesR]

2 hours ago, Freeduhdumb said:

The visa scheme is targeted at 4 types of wealthy foreigners: rich “global citizens,” rich retirees, rich professionals working in Thailand, and highly skilled professionals.

To be considered a “rich global citizen,” the foreigner must invest at least 16.35 million baht, or US$500,000, in government bonds, property or foreign direct investment. They must have at least US$80,000 in income earned over the last 2 years and US$1 million in assets.

Rich retirees must be 50 years old or older. They must invest $250,000 in government bonds or real estate as well as have an annual income of at least US$40,000.

For those working in Thailand, to be eligible for the proposed long-stay visa, they must be close to retirement and have an annual income US$40,000. They must also have at least a master’s degree or rights in intellectual property with 5 years of experience in research.

https://thethaiger.com/hot-news/visa/thailand-looks-into-10-year-visa-for-the-rich-allowing-land-and-property-ownership

Thanks for the info, I will look into it, it looks like I might be able to go for the masters degree in software engineering and the $40k income part of the requirement.

[Daryle]

6 hours ago, samiam123 said:

What exactly does a crypto consultant do?  Please don't say you are another one of those crypto chads pumping coins and NFTs on youtube  & social media.

Precisely the same question... Do you apply the KY before or after they get shafted?

[Benroon]

5 hours ago, HiuMak said:

Good news .....Indians will flock in batches

Exactly that - India turns out very good IT technicians in droves - just ask the tens of thousands of good UK IT workers that have lost well paid jobs to them as their companies get outsourced. If you are going to work in Thailand as an IT technician you will be required to work for peanuts compared to the comparable job in your country. A non starter for most people unless you're desperate for work.

[Benroon]

7 hours ago, samiam123 said:

What exactly does a crypto consultant do?  Please don't say you are another one of those crypto chads pumping coins and NFTs on youtube  & social media.

Remember the days when the only consultant you would find would be in a hospital ? Now everyone's a 'consultant' ! The title is next to meaningless now.

[HiuMak]

1 hour ago, Benroon said:

Exactly that - India turns out very good IT technicians in droves - just ask the tens of thousands of good UK IT workers that have lost well paid jobs to them as their companies get outsourced. If you are going to work in Thailand as an IT technician you will be required to work for peanuts compared to the comparable job in your country. A non starter for most people unless you're desperate for work.

Indians are used to peanuts. It will be a bigger nut in Thailand compared to India

[Cabra]

20 hours ago, Satoshi said:

Cabral. Not true. I setup an crypto consultancy here and am making the same revenue as I would in Europe, with less tax, better weather and good food :)

It's 100% correct. You have lost the plot of the article and my initial reply.

I'm talking about pay scale within THA, and paid by Thai companies to employees. Not the billing rates you get working from for western clients.

p.s. if you are looking for a reply, you need to us the forums interface correctly... either reply @ me (with correct spelling), or capture a quote from my original post, else it never gets read. 

[SSimpson]

I can't honestly see a wealthy retiree investing $250k and verifying an annual income of $40k to obtain a 10 year visa. Given Thailand's volatile political history, a lot can happen in 10 years and if you're eligible (i.e. 50+), you can already obtain an annual retirement visa if you have a monthly income of 65k Baht ($1,960) or a lump sum of 800k Baht ($24,125) for a fee of 1,900 Baht. It's a no-brainer.

[samiam123]

8 hours ago, Benroon said:

Remember the days when the only consultant you would find would be in a hospital ? Now everyone's a 'consultant' ! The title is next to meaningless now.

I use the internet, so I am an internet consultant.

Edited February 3, 2022 by samiam123

[HiuMak]

11 hours ago, samiam123 said:

I use the internet, so I am an internet consultant.

Consultants are for people out of jobs

[HiuMak]

11 hours ago, SSimpson said:

I can't honestly see a wealthy retiree investing $250k and verifying an annual income of $40k to obtain a 10 year visa. Given Thailand's volatile political history, a lot can happen in 10 years and if you're eligible (i.e. 50+), you can already obtain an annual retirement visa if you have a monthly income of 65k Baht ($1,960) or a lump sum of 800k Baht ($24,125) for a fee of 1,900 Baht. It's a no-brainer.

Great advice

[samiam123]

On 2/3/2022 at 5:13 AM, SSimpson said:

I can't honestly see a wealthy retiree investing $250k and verifying an annual income of $40k to obtain a 10 year visa. Given Thailand's volatile political history, a lot can happen in 10 years and if you're eligible (i.e. 50+), you can already obtain an annual retirement visa if you have a monthly income of 65k Baht ($1,960) or a lump sum of 800k Baht ($24,125) for a fee of 1,900 Baht. It's a no-brainer.

Only if you literally have that much money to burn.  There are very very few people that will attract.