Plan to grant work permits to foreigners who invest $1m clears first hurdle

[NightSky]

6 hours ago, blackcab said:

 

If you want to lure investment into a country you don't normally make people pay for the privilege.

 

It looks like 1,000 people are expected to take up this offer. It will be interesting to hear how many actually did so in 12 months time.

 

If its to launder untaxed money from China the allocated quota might fill quickly. 

[AlfHuy]

2 minutes ago, NightSky said:

 

If its to launder untaxed money from China the allocated quota might fill quickly. 

Go to Portugal, buy a 500,000 EUR house and get permanent residency.

Maybe not a lot questions asked from where money came from.

[OnTheRun]

22 minutes ago, chilli42 said:

Well you can add me to that list and a couple of dozen foreign friends of mine who have made themselves rich here.   Risk?  There is less risk in Thailand.  The cost of starting and running a business here is far below North America and Europe.  Also, if you don’t like the rules here there is always a work around.  

Kudos to you mate, in almost 20 years residing in Thailand I know 1 person who has made his money (rich) within Thailand, everyone else made it before moving here. I don't doubt you have but for you to know 24 such people seems to be a bit of an over statement.

[Peterphuket]

I think everyone has misinterpreted this message, or the translator misunderstood the message.

After all it is more logical that you get the amount instead of paying.

 

But I already know the answer: Thai Logic.

[AlfHuy]

1 minute ago, OnTheRun said:

Kudos to you mate, in almost 20 years residing in Thailand I know 1 person who has made his money (rich) within Thailand, everyone else made it before moving here. I don't doubt you have but for you to know 24 such people seems to be a bit of an over statement.

I know them as well (from TV shows)

Never met them in person.

[mickymouse1]

What other privileges do you get for that?

Well, in many neighbouring countries ,you only need to register a company or become Director of a limited Company to get a work permit. Simple & easy.

My multiple re- entry ONE YEAR visa in Brunei costs my company £28.00 only. Obtained within one hour if immigration office is busy.

[JonnyF]

1 hour ago, MadMuhammad said:

Even through your sarcasm I think you nailed who this is aimed at. Very wealthy Chinese looking to start/continue business in Thailand without some of the red tape restrictions. As usual the skint minority will scream its a ludicrous idea. 

 

Why would very wealthy Chinese need a work permit? They already have the Elite Visa.

 

And if they're doing business here and desperately need a work permit then they can get a work permit very easily via the Thai company they open. No need to tie up 1 Million USD for 5 years.

 

A few thousand USD gets them a Thai company and a work permit. No red tape, pay an agent to do it all.

 

Unless they plan on teaching Engrish of course. Maybe that's it ????.

[Pilotman]

In my former life, my intentional airline wanted to open a large office in BKK and open a remote facility of our  Florida Training Academy, to train our own crews in Asian specific operations outside the home base and provide international training opportunities in all aspect of aviation, including maintenance, general engineering, flying and ground support.  The obstacles put in place by the Thai government to form what would have been a joint venture with Thai Airways made it impossible and we walked away from it.  I couldn't believe their short sightedness and  lack of vision. The  facility went to the Philippines.  Doing big business here is a nightmare, unless you are Chinese. 

[kevin612]

This is one million usd which is more than 30million baht. This is too much money.

[Andy from Kent]

One million USD is more in line with legally getting citizenship in another country.

[johnarth]

no one is ,mentioning the 1 million  baht visa needed to buy a Condon or is that to small amount to think about

[brianthainess]

Hands up all those with a million bucks who want to keep working.

[digger70]

6 hours ago, webfact said:

Plan to grant work permits to foreigners who invest $1m clears first hurdle

If I had 1 Mill US Spare I  think that I wouldn't want to invest that in Los.

Probable wouldn't be here either. 

[Cal Shields]

You must be joking, who will come and be isolated for 14 days then cough up 1M USD for investment? I cannot wait for April Fools day to come then some people will agree to this. 

[khunpa]

19 minutes ago, AlfHuy said:

Go to Portugal, buy a 500,000 EUR house and get permanent residency.

Maybe not a lot questions asked from where money came from.

 

Yes,  Portugal is an option. But does it has ladyboy GOGO bars and great Som Tam stalls? I think not!

[Misterwhisper]

I really fail to see what the irresistible lure is ought to be that would entice anyone with money to burn to shell out $2 million ($1 million for the Elite Card + $1 million as investment) just to secure a work permit.

 

If somebody is investing in a business in Thailand and sets themselves up as managing director or whatever, they can easily apply for a work permit following the conventional route (i.e. 4 Thai employees per 1 foreign work permit issued). That will cost them only 3,300 baht a year.

 

And when it comes to real estate: If I want to buy a few million $ worth of condos purely for investment purposes, why would I want a work permit for that anyway? Heck, you can even manage your property pretty much from anywhere in the world. And even if you rent out your condos... there is no law against it, or one that would require you to hold a work permit.

 

So... please allow me to reiterate: What's the lure?   

[raccos21]

[high plane drifter]

3 Years ago,,I Sold the 2 houses I had in Thailand ,one in Nontabury and Hua-Hin .

move mi business out to another country,  That was a smart move...

[Yme]

People from some Asian countries will find this a great deal. 

[jerolamo]

looks like an other one blackmail...

When the study level of a country is very low, ask 1M$ of invest to give work permit is ridiculous. You should profit and give work permit and facilities to every body with a real knowledge and who can help Thailand to grow up.

But looks like nowadays, every body fareng is tourist... a shame.

[tandor]

...don't worry...there will be more hurdles to jump than the The Grand National.   ????

[karunasup]

unspoken...it is for Chinese folks, primarily.

[Harry Fingerling]

4 hours ago, crazykopite said:

Who the hell dreams up all this BS ? Cannot wait for tomorrow’s brain wave I’m laughing that much my sides are hurting ????????????

Whats 3035000 baht to an American? They’ll be climbing over each other to get away from the Democrats claw back.

Joking aside if the Thais are really serious about kick starting unprecedented tourism. Devalue the baht by 20% cut alcohol tax (presently not representative based on average wages) relax visa laws.

[malibukid]

there go the digital nomads

[taninthai]

I just renewed my work permit got 2 years cost 6300 bht.........total I have invested to get work permit is about 100,000 bht.

i don’t know what goes through these people’s heads ,I’m sure people with that much spare money don’t need to work or a work permit.

Edited November 19, 2020 by taninthai

[Arthur Mullard]

5 minutes ago, jerolamo said:

looks like an other one blackmail...

When the study level of a country is very low, ask 1M$ of invest to give work permit is ridiculous. You should profit and give work permit and facilities to every body with a real knowledge and who can help Thailand to grow up.

But looks like nowadays, every body fareng is tourist... a shame.

I was trying to imagine what the opposition, Progress Party/FFP, would be doing differently to this - I think (jerolamo) you nailed it. 

[Mr Meeseeks]

1 hour ago, OnTheRun said:

Kudos to you mate, in almost 20 years residing in Thailand I know 1 person who has made his money (rich) within Thailand, everyone else made it before moving here. I don't doubt you have but for you to know 24 such people seems to be a bit of an over statement.

When I used to frequent bars a lot I used to meet loads of expats but not many that were successful here. Most of the ones with money were here on expat packages working for multinationals. Certainly the hangers on and fantasists outnumbered those that were successful. I also met murderers, wanted criminals and some horrible, nasty characters into the bargain.

 

If you mix in business circles, go to social clubs, Chambers of Commerce etc., you will meet a lot more self-made people that are making money in Thailand. 

[Jen65]

The meeting also endorsed the TAT’s plan to partner with Thai Airways and local hotels to offer tourism packages plus quarantine stays to foreign visitors.

 

The packages will be offered from December 1 to March 31 next year, with a target of 2,000 visitors and Bt200 million in revenue per month.

 

Another subsidized government scheme to keep both Thai Airways and hotels afloat to stop them going under !  

[Jack Cook]

More drivel. Who in their fight mind would invest even 100k let alone a million. Sorry Thailand your time is done. Vietnam has trounced you.

[toolpush]

5 hours ago, ThailandRyan said:

The Chinese overlords will buy into it as they will want to work side by side with this government and will need a work permit for there hotel condos.

Someone who gets it. This initiative is solely aimed at the Chinese.