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


webfact

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What is so difficult to understand!? Thailand is NOT going to draw ultra wealthy people! These people can spend LESS money investing in better tourist spots that don't have trash, traffic, high air pollution, & immigration problems!! Not going to happen! 
Also, why would investors want to put their money into a country that has made it SO DIFFICULT for people to even visit? 


Mind boggling.

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9 minutes ago, simon43 said:

Thank heavens for that!  Portugal, I'm on my way.....


I am staying. Nothing beats sitting on a rock-hard floor eating a great big spicy portion of Som Tam with your lady boy friend while discussing the world situation.
 

Portugal and all other places suck! A million USD is a bargain.
 

Edited by khunpa
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2 hours 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.

And 5 years after your purchase you qualify to apply for citizenship. That is a good deal.

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6 hours ago, scorecard said:

Having big money doesn't automatically mean the person is capable of valuable contribution to society, nor does it mean that person wants to contribute, and it doesn't mean the person is an upstanding citizen.

This is true.

Like I have been saying Thais are not all about the money but about the integrity of the person..

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Thinking back to my days in Ireland, to prevent the brain drain the Irish government offered a tax free holiday for 10 years  to companies that would come in and set up factories. Many Japanese firms took them up on the offer, with a proviso that they would be set up in areas where there was very little employment opportunities. Agreed Ireland is a smaller country than Thailand but now Ireland is reaping the benefits. Why not in Thailand ???????????????  

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10 hours ago, webfact said:

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

By The Nation

 

800_d796d516733657e.jpg?v=1605706449

Yuthasak Supasorn, governor of the Tourism Authority of Thailand (TAT)

 

The government's Centre for Economic Situation Administration (CESA) on Wednesday approved a plan to grant work permits to Elite Card holders who invest at least US$1 million in Thailand.

 

To be eligible, Elite Card holders must invest the money for five years in Thai property or businesses.

 

They must also have top-tier Elite Cards costing Bt1 million and valid for at least five years.

 

The move is aimed at luring more foreign investment, said Yuthasak Supasorn, governor of the Tourism Authority of Thailand (TAT).

 

Wednesday’s CESA meeting, which was chaired by Prime Minister Prayut Chan-o-cha, assigned the TAT to consult with the Foreign and Interior ministries before forwarding the plan for Cabinet approval.

 

The measure is expected to generate Bt31 billion – Bt1 billion from the sale of Elite cards and the rest from cardholders' investment in Thai assets.

 

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.

 

Source: https://www.nationthailand.com/business/30398174

 

nation.jpg

-- © Copyright The Nation Thailand 2020-11-19
 

Perhaps I am missing something , but why would you put US$1 mill into Thailand in order to receive a work permit ? Assuming that anyone with US$1 mill to allocate to this has plenty more, they would probably be living off their investment returns and not trying to get a WP in Thailand. 

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9 hours ago, ukrules said:

I know it's early days but I'm going to go ahead and guess anyway - it will be anything between zero and perhaps 5 or 10.

I love an optimist ????

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I just sold a bunch of my Google stock and was planning to blow at least a million of it on bargirls and drugs. 

 

This sounds like a much better investment even though I don't really want a work permit. Where do I sign up? Can I pay by check or does it have to be cash in a brown envelope? 

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4 minutes ago, RocketDog said:

I just sold a bunch of my Google stock and was planning to blow at least a million of it on bargirls and drugs. 

 

This sounds like a much better investment even though I don't really want a work permit. Where do I sign up? Can I pay by check or does it have to be cash in a brown envelope? 

Can I use my Bitcoin as well.  It just so hard to use otherwise.

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I don't really see the point of the Work Permit.

 

If you've got 1.000.000 USD te spend on a programme like this, it might be cheaper in the long run to just setup some Thai business. Sure, you'd have to pay some Thai staff, but it'd take many years until you've spent the full 1.000.000 USD and perhaps your business could actually become successful and another source of income. 

 

Also, with the work permit you still need to work for some boss. If I'd have that kind of money to spend on some programme like this, the last thing I would want is work for another boss ... I'd rather do nothing. And that can easily be achieved using the investment visa that will only require you to invest 10.000.000 THB in Thailand. You can probably buy some stock and sell it again after 5 years or so. 

 

I guess it's an easy, if somewhat expensive, way to become an English teacher in some school in Nakhon Nowhere. 

Edited by wolf81
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12 hours ago, webfact said:

The government's Centre for Economic Situation Administration (CESA) on Wednesday approved a plan to grant work permits to Elite Card holders who invest at least US$1 million in Thailand.

 

To be eligible, Elite Card holders must invest the money for five years in Thai property or businesses.

Or, if you're married to a Thai citizen you can simply invest whatever is necessary to start a business through a Thai Ltd company, not spend millions on an Elite card and not invest $1 million for 5 years.

 

Do they think the unmarried are so desperate to live in Thailand that they will commit what at the moment is over 30 million baht?

 

More from the Ministry of Crazy Ideas.

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3 hours ago, Edina said:

Thinking back to my days in Ireland, to prevent the brain drain the Irish government offered a tax free holiday for 10 years  to companies that would come in and set up factories. Many Japanese firms took them up on the offer, with a proviso that they would be set up in areas where there was very little employment opportunities. Agreed Ireland is a smaller country than Thailand but now Ireland is reaping the benefits. Why not in Thailand ???????????????  

Because Ireland, unlike Thailand, has the strong Rule  of Law that is upheld, a strong Court and Justice system and a  none corrupt administration  and Police force. The are as different as chalk and cheese. 

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7 hours ago, chilli42 said:

Correct.  The $1 million investment will be no barrier for well off Chinese who have been investing much more than this in Thailand anyway

The TV pundits say the Chinese are all skint.

 

They all follow the flag round Walking Street and eat noodles on the pavement.

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Most countries offer tax benefits to get foreign investment in. Then this must be the way to get the good guys in and keep the bad guys out?

???????? 

 

I see a laundry in your future Mr. Yuthasak Sipasorn.

Edited by bipper
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