Thailand’s New Incentives for Foreign Investors: A Comprehensive Guide

Thailand, once a dream destination for retirees and travelers, is now a hotspot for foreign investors and professionals. The recent changes in Thai laws have opened doors for investment in real estate more lucrative. Let’s explore how Thailand is becoming a foreign investor’s heaven.

Introduction to New Incentives

Thailand’s economy suffered due to COVID-19, leading to concessions for foreign investors. From 2022, high-earning residents from foreign countries can benefit from various incentives to aid Thailand’s recovery.

New Long-Term Stay Visa With Concessions 2022 Onwards

Before 2022: 90-day stay, limited foreign staff hiring.
After 2022: 10-year visa for eligible candidates, extended to spouses and children, with automatic work permits.

Tax Perks and Benefits from 2022

Before 2022: Up to 35% tax for earnings over 4,000,000 Thai bahts.
After 2022: Same income tax slabs as Thai citizens, plus exemptions for income earned abroad and a fixed 17% Personal Income Tax Rate.

Land and Property Ownership Concessions and Benefits

Before 2022: Limited concessions and benefits to foreigners.
After 2022: Relaxations on rent and foreign ownership of property and land, overseen by Thailand’s Office of National Economic and Social Development Council.

Who is Eligible?

Wealthy Global Citizens: Income of US$80,000 and assets of US$1 million.
Affluent Pensioners: Stable pension of US$40,000 and age above 50.
Remote Working Professionals: Income of US$80,000 and 5 years of experience.
Top Executives and Skilled Professionals: Income of US$80,000 or industry-specific earnings.

Goals of The Thai Government for Recovery

The Thai government aims to generate significant revenue through these initiatives, benefiting both foreigners and Thai citizens. Estimated revenue includes US$24.1 billion from investors, US$8.1 billion from personal income tax, and more.