Thailand aims to attract foreign experts and investors with special "startup visa"

[webfact]

Thailand aims to attract foreign experts and investors with special "startup visa"

 

Picture: Daily News

 

BANGKOK: -- The ministry for the digital economy (DE) is looking into plans to issue special incentive visas for foreign startup firms and their staff to come and work in Thailand.

 

The ministry has received recommendations that one of the best ways to encourage the growth of startup companies in Thailand is to bring in experts and investors from abroad.

 

A startup or start-up company is an entrepreneurial venture that is typically a newly emerging, fast growing business that aims to meet a market need by developing or offering an innovative product, process or service.

 

Minister Phichet of the DE said the visa would aim to make it legal for those eligible to work in Thailand by removing various obstacles. He was at Central World in Bangkok yesterday with 20 representatives from the Thai startup sector who are in favor of the idea.

 

He said that Thai startups were adding a billion baht to the economy and this is only the start of what looks like a rosy future.

 

The Thai groups want such companies to be nationwide and not just concentrated on Bangkok.

 

Foreign help and investment will help to push this part of the economy forward at a faster pace, said the Thai startups.

 

A steering committee will look into the details of what the visa will offer and announce their findings by September.

 

Source: Daily News

 

-- © Copyright Thai Visa News 2017-06-20

[HiSoLowSoNoSo]

Wonder if giving Thais 51% of the shares in these new startup firms are part of the deal?

[Dobredin Ghusputin]

How is this going to be any different from BOI privileges?

[observer90210]

and how many millions in Bhat in a Thai Bank of farang origin, would it take to get this wonderful new visa?...would it ban 60 or 90 day reporting?

[Suttisan]

What startup will have the money to bring all their staff to Thailand? and that's if all staff even want to live there. 

[SOUTHERNSTAR]

3 hours ago, Dobredin Ghusputin said:

How is this going to be any different from BOI privileges?

I think it will target small companies and which focus on technology RD. 

[Destiny1990]

Probably another great visa plan but that unfortunately nobody likes.

[IMA_FARANG]

As always "talk is cheap:" but action costs money.

The devil is in the details, such as:

• Will these new "startup" companies be required to have 51% of their stock and resources  in control of a Thai shareholder?
• What is the monetary (funds) requirement for the foreign "startup" firm to establish this new startup company?
• And, importantly, will the foreign workers and personnel have to pay Thai taxes on their Thai and foreign income?

In short they are heavy on Talk and Light on Details.

 

[Borzandy]

4 hours ago, webfact said:

Thailand aims to attract foreign experts and investors with special "startup visa"

Yes yes yes, as Thailand nominates "start-up" a small company who open a bar.

[retarius]

Desperation? Why do the rules for visas change so often? It's third worldish.

[fforest1]

I wonder if the new visa will require Thai health insurance and a police

report from your home country and millions of baht in the bank that

cannot be withdrawn...

[Yann55]

And I wonder if there'll be a special kind of visa for foreigners who want to start up a girl bar in Pattaya ? I'm sure there would be lots of applicants.

[Peterw42]

Can I get one of these Visa's to open a Visa advisory business ?

[maewang99]

if there are any expectations that Thai educated workers will benefit from this...

in any manner.... 

the only and best thing that might happen is that while sitting around... or standing around... for many long hours..... while they stare at farlang doing something that copying or mimicking... is ****absolutely**** worthless for...... reading and thnking while reading... and then discussing after reading with other readers of totally DIFFERENT material.... and combing it together into something not many others have been able to do yet... something like that.

or......... distribute out Mark Zuckerberg's or Bill Gross's 2017 summer reading lists.... as a little starting point... a very small one........ and do ya suppose there's a reason these guys are avid book readers? 

give the students credited funds on Amazon to order.. anything that Amazon categorizes as science, historical novels etc.... but no comic books, fashion magazines or coloring books.

or do all of the above.  AT THE SAME TIME.  together.

I know for sure.. without telling myself any silly narratives about this or that.... ****how**** I was able to retire at a young age... and the cheap Baht isn't even 1% of that.  and it's real simple.  and it still works...  for me it does and for the  two guys I mentioned above... who are drop outs... but "honorary" ones.... and....  it's not just about making money either.  








 

Edited June 20, 2017 by maewang99

[fish monger]

55555, nobody wants to hear it...Everything here comes with strings. Sometimes with rope attached...

[Get Real]

1 hour ago, IMA_FARANG said:

As always "talk is cheap:" but action costs money.

The devil is in the details, such as:

• Will these new "startup" companies be required to have 51% of their stock and resources  in control of a Thai shareholder?
• What is the monetary (funds) requirement for the foreign "startup" firm to establish this new startup company?
• And, importantly, will the foreign workers and personnel have to pay Thai taxes on their Thai and foreign income?

In short they are heavy on Talk and Light on Details.

 

Guess we just have to wait until september as announced.

[Familyaffairs]

Good idea. Will never happen. Meanwhile, those already here pay through their nose for the 'privilege' of doing business here.

[Rimmer]

An off topic post has been removed, topic is not about the Rolling Stones

[KamnanT]

This would require close cooperation between a number of government departments and ministries, working together for the overall improvement of the country, its citizens and the economy.  Perhaps best left at that.

[fforest1]

I would guess most start-up companies have employees who are under

age 50....O-my....That sounds like a problem...lol 

[hansnl]

6 hours ago, HiSoLowSoNoSo said:

Wonder if giving Thais 51% of the shares in these new startup firms are part of the deal?

If so, I get the idea this might not have the wished for results.

[HiSoLowSoNoSo]

15 minutes ago, hansnl said:

If so, I get the idea this might not have the wished for results.

If not, they have to give the investors of these startup firms BOI approval or change the investment laws.

[Muggi1968]

I think I will wait for facts about this new visa before I start to speculate...

[NCC1701A]

too bad. this would have been nice in 2012 when my company wanted to open a office in Bangkok doing very high tech visual effects for film and television.

 

took about four hours on that exploratory trip to realize it was impossible to start a company in Thailand. 

 

Vietnam is light years ahead of Thailand in this tech area.

 

 

 

[Sydebolle]

So this is the "non immigrant SU" visa then right? 

[George FmplesdaCosteedback]

More hot air...

[attrayant]

That's nice.  I'm sure they'll all be as successful as Uber was.

[YetAnother]

a great many of us that have lived here for a Long time are interested in a long term exit visa; thai immigration is insufferable and their long term options are radically stupid; vietnam....

[Felt 35]

No need for this..there are quit a few experts here already without a special visa, night and day their expertise and investment are to be seen in Pat pong, Patong and walking street.

[YetAnother]

13 hours ago, fforest1 said:

I wonder if the new visa will require Thai health insurance and a police

report from your home country and millions of baht in the bank that

cannot be withdrawn...

think they want us here ?