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Several incentives approved to attract long-staying foreign investors, wealthy foreigners

15 Sept 01:31 Key points summarised by AI

Thailand's cabinet greenlit a comprehensive scheme to draw "high potential" foreigners, targeting one million long-term residents within five years to inject 1 trillion baht into the economy.
The initiative focuses on four key groups: high-income earners, foreign retirees, specialized experts, and remote workers seeking Thailand as a base.
New long-term resident visas offer significant privileges, alongside amended land ownership laws, tax exemptions, and relaxed employment rules, including lifting the 4:1 Thai national hiring requirement.
This strategic move aims to bolster private business sectors and align with Thailand's 20-year national development plan, with various ministries tasked with detailed implementation.

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.