News Forum - LTR visa: will the benefits lure expats to drive the economy?

[Thaiger]

The new 10-year long-term resident visa was launched on Thursday with an aim to convert visitors into expats by offering benefits and tax breaks to attract foreigners from around the world. Though, they’ve made clear that they’re looking only for the top-tier of wealthy travellers to move to Thailand and take advantage of the LTR visa. The new visa is only offered exclusively to four types of people. First, it’s available to retirees over 50 with a large annual pension or proof of a stable high-income. Second, to those who have sunk at least US $1 million into investments and […]

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[DoUKnowWhoIAm]

1 hour ago, Thaiger said:

replacing the 90-day immigration check-in with a yearly check-in,

So those  with LTR visas are less suspicious?

A bit like the Bull Boy who've escaped justice with his wealth. If you have money, you can't do anything wrong, can you.

[Janneman]

The benefits might indeed lure expats into Thailand. The qualifications however will make them run away, to Bali perhaps?

One, the retirees. No mention of how high this stable pension should be. If it is the 80k mentioned earlier that's way too high.

Two, invest 1m in Thailand. If I had 1m I wouldn't think of it. Investing is nice but it also has to be possible to get your money out of the country again.

Three, digital nomads working for big companies. For at least 3 years. Most digital nomads work for themselves. They take short-term jobs from whatever company that needs them. And they like to stay 3-12 months in one place and then move on.

Four, the most skilled workers in certain industries. This one is a possibility. But the numbers will be low. I believe they are trying this one to bring in the Philipina girls to work in the entertainment industry.  Skilled girls indeed.

The easiest way to boost the economy is to lure 1m retirees. If the qualification is like a pension of 2k euro a month that should be no problem.  And it brings in 2b euro every month. Money that will be spent on housing, food, transportation and so on. So it enters the economy.

 

[Cabra]

The simply answer is no. An unstable and unpredictable government, rampant corruption, and inefficient rules and regs make it one of the least desirable destinations to park a $1 million dollar investment. 

[TSS]

they’ve made clear that they’re looking only for the top-tier wealthy travellers to move to Thailand and take advantage of the LTR visa.

 oh yeah, easily many thousands of the 'top-tier' are eager to invest $1 mill. here . The rush is on!

[Davelee]

I've put alot of thought into my answer given the equal amount of thought given to this plan. 

No.