Thailand expects 1 million new expats in next 5 years | Inquirer News

Thailand expects 1 million new expats in next 5 years

/ 04:31 PM July 17, 2022
Thailand expects 1m new expats, THB1trn from land-for-investment move

The Nation/Asia News Network

BANGKOK — Allowing foreigners who invest at least 40 million baht (about US$1 million) to purchase property and land will bring up to 1 trillion baht and 1 million new expat residents in the next five years, the government said on Friday.

The plan, which is part of measures to boost the Thai economy, would also attract 8 billion baht in land/property investment, government spokesman Thanakorn Wangboonkongchana said.

ADVERTISEMENT

Meanwhile, it would add an estimated 270 billion baht in tax revenue between 2022 and 2026, he added. To be eligible, foreigners must invest 40 million baht for at least three years.

The plan is in addition to the Interior Ministry’s move to grant long-term stays for four groups of foreigners — wealthy people, retirees, freelancers based in Thailand, and those with special skills.

FEATURED STORIES

The ministry’s Department of Lands is drafting a ministerial decree to set conditions for allowing foreigners to own up to 1 rai of land for residential purposes, Thanakorn said on Friday.

The major condition is a minimum investment of 40 million baht for at least three years in specified sectors, including infrastructure funds and property trusts.

“This is an important measure to boost the Thai economy and investment by attracting foreigners with high potential from around the world,” he said.

RELATED STORIES

Where is the pasture greenest for expats?

Sun rises in East, retires in West for expats, survey suggests

Countries most welcoming for expats revealed by survey

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: expats, Thailand
For feedback, complaints, or inquiries, contact us.

Subscribe to our daily newsletter



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.