Net worth

Cabinet approves 10-year visa program to attract high net worth individuals and specialists

Thailand’s attempt to lure wealthy individuals and technical specialists on 10-year visas to boost the country’s economy was approved by Cabinet on Tuesday. Although the specific terms and requirements are still being drafted, a few details have been provided to the public:

  • High net worth individuals must have an income or pension of at least USD 80,000 per year for the past two years as well as net assets of at least USD 1 million.
  • Retirees under this scheme must have a pension of at least THB 80,000 per month and must not have previously invested in Thai government bonds.
  • Highly qualified professionals must earn an annual income of at least USD 80,000 in the past two years and must work in one of the targeted industries in Thailand such as infrastructure construction, logistics systems and digital systems. Individuals employed by foreign companies wishing to work from Thailand must have more than five years of work experience.

These measures aim to attract four main groups of foreigners; high net worth individuals, high income retirees, highly skilled professionals and high income workers who wish to be based in Thailand. The program provides other benefits such as foreign tax exemptions and a change in foreign ownership regulations to stimulate investment in the Thai property market.

The regulations for this initiative are still being drafted. This means that currently known details of the 10-year visa regime and its relevant incentives may be subject to future changes.