By Uglobal Staff
Foreigners will now be able to live and work in Thailand for up to 10 years following the Thai cabinet's approval to amend a key piece of an immigration legislation as the country looks to boost investment.
The Thai cabinet approved the amendments to the country's Immigration Act on January 18 after the Thai interior and labor ministries submitted their draft proposals to make the long-term visa laws for foreigners more attractive, according to the Thai deputy government spokeswoman, Rachada Dhnadirek, quoted in local media.
Apart from high-net-worth individuals, the long-term visa would be open to foreign pensioners, digital nomads as well as highly skilled professionals. Families of applicants would also be eligible to apply, including children up to 20 years of age.
The minimum amount thresholds for the visa were not revealed but it was mentioned that visa holders would be required to pay 10,000 baht (around $300) as annual fee for each of the years they stay in the country.
Initially, applicants would be issued a five-year visa, which would be renewable for another five-year term. Foreigners who wish to work would be able to do so after they apply for a work permit while staying on the long-term visa; they would be allowed to start working as soon as they file for the work permit. Those wishing to run their own businesses would also be allowed to stay on the same visa, but they too would need to apply for a work permit.
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