Thai government approves new type of long-term visa for wealthy foreigners and professionals

The Kingdom’s Cabinet has approved a 10-year visa for foreign investors, highly skilled professionals, and wealthy pensioners.

Local experts say that the motivation for new long-term visas is to attract new specialists and foreign capital to the IT sector. This will help prevent the projected labor shortage in this industry. The same experts argue that priority in issuing new visas should be given to IT experts and engineers in this field.

Industry representatives hope that the program will attract many young professionals in blockchain, Data Science, and artificial intelligence technologies. In total, from 50,000 to 100,000 specialists.

Given the pace of development of the IT sector and the average incomes of its representatives, without attracting major investors, 10-year visas can have a favorable long-term impact on the housing market in Thailand. These are young and active people who want to spend money and money to satisfy this desire.

Attraction centers can become big cities, commercial and IT hubs, special economic zones such as EEZ (Eastern Economic Corridor).