Govt eyes new visa rules in bid to woo investors


The government’s Centre for Economic Situation Administration (CESA) on Wednesday (September 16) approved in principle amendments to the criteria of granting permanent residence and smart visa to foreigners in a bid to woo more investment, the National Economic and Social Development Council's deputy secretary-general Danucha Pichayanan said.

The centre is considering the option of granting permanent residence to buyers of condominium units, provided applicants do not mortgage, sell or transfer this asset for five years after purchase.

CESA has also broadened guidelines for granting smart visa, which will now cover those who want to develop start-ups or create jobs in fields other than science and technology.

It may also broaden smart-visa criteria to cover independent experts who do not have a work contract in Thailand. Holders of smart visas will in some cases be allowed to do jobs other than the one specified in the visa. Criteria on work experience and educational background for high-ranking executives applying for a visa should also be relaxed.

Thailand’s smart visa programme was launched to woo skilled manpower, investors, executives and start-up entrepreneurs to work in targeted industries here.

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