Cabinet nods to Flexible Plus Program for investments by foreigners

[snoop1130]

 

BANGKOK (NNT) - The Cabinet has approved in principle the proposed Flexible Plus Program aimed at attracting foreign investors.

 

Deputy Government Spokesperson Traisuree Taisaranakul said the Cabinet in its weekly meeting approved the principle of the Flexible Plus Program proposed by the Ministry of Interior, aiming to provide special benefits to high-income foreigners seeking to invest in Thailand.

 

The program, which will be available to holders of Thailand Privilege Card, requires at least 1 million US dollars to be invested in a one-year span after registration. Foreigners who apply for this program will be able to obtain work permits.

 

Investments that a foreigner can make in Thailand will be limited to real estate, public limited companies, stock exchanges, common stocks, bonds, and any investment units authorized by the Securities and Exchange Commission.

 

Holders of Thailand Privilege Card, including their spouses and children younger than 20 years old, will be eligible for a so-called “Smart Visa” for temporary residency valid for 5 years. This visa can be renewed throughout the duration of their investments in Thailand.

 

The Tourism Authority of Thailand expects this special benefit campaign to attract 10,000 high-income foreigners, and inject some 300 billion baht into the Thai economy.

 

-- © Copyright NNT 2021-10-19

 

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

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

[Adumbration]

Wow finally.  All of those spare millions I had lying around.  And now at least I can put one of them to good use...

[RubbaJohnny]

52 minutes ago, Adumbration said:

Wow finally.  All of those spare millions I had lying around.  And now at least I can put one of them to good use...

Just a few million more transfers of 34 baht and theyll be queung up for it, HUB ALERT!!

[tomazbodner]

Why would someone with millions of $ to throw away want a work permit in Thailand?

[talahtnut]

The only thing here worth investing in is a Rubber Stamp factory.

Edited October 19, 2021 by talahtnut
spelling

[BKKTRAVELER]

1 hour ago, snoop1130 said:

holders of Thailand Privilege Card, requires at least 1 million US dollars to be invested in a one-year span after registration. Foreigners who apply for this program will be able to obtain work permits.

Thank you! I feel so much better now... 1 million $ and you get a work permit, which they didn't say would be free, but you can obtain one!

 

They say "smart visa", nothing smart about investing that much money if it is to get a visa... Should rename it, I'll leave it to you fellas to find the appropriate name ????

[Prince77]

I have a registered and fully operational company for sale - only 1/2 million US$ (negotiable) and it will come along with all privileges mention in above post.

 

So - it's a bargain.

[shadowofacloud]

Amazing. This gets better every day.

Edited October 19, 2021 by shadowofacloud

[Will B Good]

Who the hell do these Thais think they are?.....God's gift to the world.

 

I can think of 17 countries I would prefer to live in if I had a million dollars.

[BKKTRAVELER]

I'd like to add that many countries will give you permanent residency or even citizenship for much less than what they are asking...

 

Seriously, this project is meaningless and will soon be forgotten.

[tingtong]

"As of Sept 30, the number of Thailand Elite Card holders was 11,132. Most come from China, Japan, South Korea, Britain and the US. Markets with the highest growth rate in the fiscal year were China (up 52%), followed by the US and Germany (44% each), France (31%) and Britain (29%).Oct 16, 2563 BE"

 

THat is the 500k-1 million 5-20 yrs, no investment.

why would 10000 ppl rush to throw away 32 million bath for a work permit and a 5 yr temporary residency permit?

makes zero sense.

Curious how much it cost to develop this great idea?

 

[Benmart]

A laugh in the morning is good medicine.

[mtls2005]

10 hours ago, tomazbodner said:

Why would someone with millions of $ to throw away want a work permit in Thailand?

Money laundering, much pent-up demand for these services. The WP/visa allows them to oversee the cleaning.

 

 

[jacko45k]

12 hours ago, Adumbration said:

Wow finally.  All of those spare millions I had lying around.  And now at least I can put one of them to good use...

Are they still there? Might have been taken away by several million withdrawals of 43.17 baht. 

[crazykopite]

Yet another crazy idea from this incompetent administration 

[RafPinto]

I just applied. Nervously waiting for approval.

 

The girl on the picture looks hot.How did she get this job. She is probably is the daughter of someone high up the food chain.