Plan to grant work permits to foreigners who invest $1m clears first hurdle

[webfact]

Plan to grant work permits to foreigners who invest $1m clears first hurdle

By The Nation

 

Yuthasak Supasorn, governor of the Tourism Authority of Thailand (TAT)

 

The government's Centre for Economic Situation Administration (CESA) on Wednesday approved a plan to grant work permits to Elite Card holders who invest at least US$1 million in Thailand.

 

To be eligible, Elite Card holders must invest the money for five years in Thai property or businesses.

 

They must also have top-tier Elite Cards costing Bt1 million and valid for at least five years.

 

The move is aimed at luring more foreign investment, said Yuthasak Supasorn, governor of the Tourism Authority of Thailand (TAT).

 

Wednesday’s CESA meeting, which was chaired by Prime Minister Prayut Chan-o-cha, assigned the TAT to consult with the Foreign and Interior ministries before forwarding the plan for Cabinet approval.

 

The measure is expected to generate Bt31 billion – Bt1 billion from the sale of Elite cards and the rest from cardholders' investment in Thai assets.

 

The meeting also endorsed the TAT’s plan to partner with Thai Airways and local hotels to offer tourism packages plus quarantine stays to foreign visitors.

 

The packages will be offered from December 1 to March 31 next year, with a target of 2,000 visitors and Bt200 million in revenue per month.

 

Source: https://www.nationthailand.com/business/30398174

 

-- © Copyright The Nation Thailand 2020-11-19

 

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[Kadilo]

“The meeting also endorsed the TAT’s plan to partner with Thai Airways and local hotels to offer tourism packages plus quarantine stays to foreign visitors.

 

The packages will be offered from December 1 to March 31 next year, with a target of 2,000 visitors and Bt200 million in revenue per month.”

 

They really have not got a clue. Recycling the same old garbage and fictitious numbers as if by a miracle something will change. 

[blackcab]

7 minutes ago, webfact said:

The move is aimed at luring more foreign investment, said Yuthasak Supasorn, governor of the Tourism Authority of Thailand (TAT).

 

If you want to lure investment into a country you don't normally make people pay for the privilege.

 

It looks like 1,000 people are expected to take up this offer. It will be interesting to hear how many actually did so in 12 months time.

[ezzra]

So if i get it right, WP in Thailand is such a coveted sought after and so precious credentials to have that you need to invest $1million to be bestowed and awarded this rare, once in a lifetime thing called work permit in Thailand, what happened to just getting one when you get a job or start any business in Thailand? no more? or now it has to be a 1 million dollar investments to get it?...

[Fex Bluse]

The incredibly deficient Thai education system is on display each time a new policy or idea is uttered. It's not surprising the country is so underdeveloped. 

[ukrules]

1 hour ago, blackcab said:

 

If you want to lure investment into a country you don't normally make people pay for the privilege.

 

It looks like 1,000 people are expected to take up this offer. It will be interesting to hear how many actually did so in 12 months time.

I know it's early days but I'm going to go ahead and guess anyway - it will be anything between zero and perhaps 5 or 10.

[Thailand]

Looks like another winner from the non think tank-not!

[alfalfa19]

WAFJ

[welshguy]

Another day,  Yet another ridiculous idea!

 

Will they ever learn?

 

 

( I know the answer to that!)

[bodga]

Total waste of  time......as usual

[yellowboat]

Again the pointy heads running Thailand are again late to the party.    The US would give permanent residency at that dollar amount.  The junta is just slow, irritating and cumbersome.     Clearing hurdles.   That should just be a given. Not so amazing Thailand.

[ThailandRyan]

52 minutes ago, ukrules said:

I know it's early days but I'm going to go ahead and guess anyway - it will be anything between zero and perhaps 5 or 10.

The Chinese overlords will buy into it as they will want to work side by side with this government and will need a work permit for there hotel condos.

[scorecard]

2 hours ago, webfact said:

Plan to grant work permits to foreigners who invest $1m clears first hurdle

By The Nation

 

Yuthasak Supasorn, governor of the Tourism Authority of Thailand (TAT)

 

The government's Centre for Economic Situation Administration (CESA) on Wednesday approved a plan to grant work permits to Elite Card holders who invest at least US$1 million in Thailand.

 

To be eligible, Elite Card holders must invest the money for five years in Thai property or businesses.

 

They must also have top-tier Elite Cards costing Bt1 million and valid for at least five years.

 

The move is aimed at luring more foreign investment, said Yuthasak Supasorn, governor of the Tourism Authority of Thailand (TAT).

 

Wednesday’s CESA meeting, which was chaired by Prime Minister Prayut Chan-o-cha, assigned the TAT to consult with the Foreign and Interior ministries before forwarding the plan for Cabinet approval.

 

The measure is expected to generate Bt31 billion – Bt1 billion from the sale of Elite cards and the rest from cardholders' investment in Thai assets.

 

The meeting also endorsed the TAT’s plan to partner with Thai Airways and local hotels to offer tourism packages plus quarantine stays to foreign visitors.

 

The packages will be offered from December 1 to March 31 next year, with a target of 2,000 visitors and Bt200 million in revenue per month.

 

Source: https://www.nationthailand.com/business/30398174

 

-- © Copyright The Nation Thailand 2020-11-19

 

- Whatever you're going through, the Samaritans are here for you

- Follow Thaivisa on LINE for breaking COVID-19 updates

Having big money doesn't automatically mean the person is capable of valuable contribution to society, nor does it mean that person wants to contribute, and it doesn't mean the person is an upstanding citizen.

 

On the other hand there are plenty of people who have great capabilities and could contribute enormously to civil society but they are poor.

 

 

[Destiny1990]

Only 1 million USD for a work permit wow what a tempting offer ????????

[crazykopite]

Who the hell dreams up all this BS ? Cannot wait for tomorrow’s brain wave I’m laughing that much my sides are hurting ????????????

[ChrisY1]

J.Lo from Malaysia will likely be one.....as long as his whereabouts are not revealed....which the govt. would probably be happy to do!

[yankee99]

The concept of work has really changed. I remember when you got paid to work not pay 1 million usd to work

[mr mr]

2 hours ago, webfact said:

Plan to grant work permits to foreigners who invest $1m clears first hurdle

 

gotta love these headlines. like they are doing you a favor or something. 

 

 

[SCOTT FITZGERSLD]

3 hours ago, webfact said:

Wednesday’s CESA meeting, which was chaired by Prime Minister Prayut Chan-o-cha, assigned the TAT to consult with the Foreign and Interior ministries before forwarding the plan for Cabinet approval.

that will not be so hard to approve.

but i wonder why would one invest 1  million USD just to get a work permit.

anyway he can get the work permit even if he invest only 2-3 million baht in openning a thai company.

and why would someone be so eager to work in a low income country like thailand, when he has 1 million dollars to invest?

sounds like those ads for condominiums :  BUY A 10 MILLION BAHT CONDOMINIUM , AND GET A BRAND NEW IPHONE 12 FREE !!!

[yankee99]

6 minutes ago, SCOTT FITZGERSLD said:

that will not be so hard to approve.

but i wonder why would one invest 1  million USD just to get a work permit.

anyway he can get the work permit even if he invest only 2-3 million baht in openning a thai company.

and why would someone be so eager to work in a low income country like thailand, when he has 1 million dollars to invest?

sounds like those ads for condominiums :  BUY A 10 MILLION BAHT CONDOMINIUM , AND GET A BRAND NEW IPHONE 12 FREE !!!

Its less than 2- 3 million baht 

[SCOTT FITZGERSLD]

29 minutes ago, ThailandRyan said:

The Chinese overlords will buy into it as they will want to work side by side with this government and will need a work permit for there hotel condos.

NOT EVEN THE chinese wlll buy into this.

and why would they?

they can easily get work permit together with their condo hotels, or a much smaller investment.

 the thinking behind this plan can  be called WHEN ONE IS FLYING ON HIMSELF, a combination of

arrogance and day dreaming.

[4737 Carlin]

A solid plan. There must be loads of millionaires who want to move to Thailand and work in its low-wage economy.

[rupert the bear]

39 minutes ago, Destiny1990 said:

Only 1 million USD for a work permit wow what a tempting offer ????????

thats exactly what i thought,3 please!ive got t shirts with higher IQs than this lot.its unreal

[rupert the bear]

listening to these absurdly dumb announcements every day it puts me in mind of groundhog day,and of course the dates 1st april.do they actually breath oxygen or nitrous oxide?

[mrmicbkktxl]

This is aimed to the illegal Chinese to get legal

[realfunster]

19 minutes ago, yankee99 said:

Its less than 2- 3 million baht 

AFAIK it’s THB 2 million paid up capital for foreigner to get work permit via company.

THB 1 million if with a Thai spouse.

[OnTheRun]

A summary as I read it, invest $1 million, presumably setting up a company you are only allowed to control 49% in, buy a house to live in which technically you are not allowed to own and they will grant you a work permit. It's not exactly deal of the century.

 

Did Thaksin have to buy Manchester City FC in the name of a UK bar girl all those years ago? 

[FinChin67]

54 minutes ago, ThailandRyan said:

The Chinese overlords will buy into it as they will want to work side by side with this government and will need a work permit for there hotel condos.

Even the Chinese don't take so bad deal. They wait until they give everything to them and even loan money on top of that.

I will not invest in Thailand. They do not make you welcome at all. I am checking now into Malaysia but hit a hurdle as they froze MM2H (I had application in but it was returned). Anyways, Thailand is and stays away from my list as they do not make you welcome and running a business in Thailand is a nightmare what I have heard (and experienced). No thank you.

[SCOTT FITZGERSLD]

2 minutes ago, realfunster said:

t’s THB 2 million paid up capital for foreigner to get work permit via company

AND  acctually you do not have to pay it up , it only means registered capital...

[yankee99]

23 minutes ago, yankee99 said:

Its less than 2- 3 million baht 

You dont actually pay 2 million baht for the shares of a 2mb company.