Yuthasak Supasorn, TAT Governor, Chairman of the Board of Director, Thailand Privilege Card unveiled that as of the cabinet resolution on 19 October 2021, the investment principle on Flexible Plus Program has been granted approval. The program offers privileges for Thailand Privilege Card holders to work under terms and conditions, aiming to urge foreign investors to invest in Thailand.
On 6 January 2022, Royal Thai Government Gazette has publicized the announcement by Ministry of Interior on Flexible Plus Program privileges designating foreign Thailand Privilege Card holders to be eligible to stay in kingdom and granted a work permit under the Flexible Plus Program. The so-called investment scheme is established in Order to encourage investment from overseas and to recover Thailand’s economic downturn caused by Covid-19.
Eligible foreign investors entitled for Flexible Plus Program including Thailand Privilege Card member which the membership package 10 years and above. The existing membership are required to have at least 5 years with non-immigrant permit validity and limited only for holders with one million baht membership fee and above. Card categories entitled for the privilege include Elite Ultimate Privilege, Elite Superiority Extension and Elite Privilege Access with at least one million US dollar to be invested within 1 year timespan after registration or approval of membership.
Investment in Thailand restricted for foreign investors including 1. Real estate 2. Company Limited or Public Company Limited 3. Stock Exchanges in Stock Exchange of Thailand (other enterprises authorized by the Securities and Exchange Commission). Target countries are China, Japan, UK, Hong Kong, Russia, France, USA, Singapore, etc.
The Flexible Plus Program has been introduced through the TAT offices and other overseas government agencies along with online marketing programs and 27 sales agencies covering markets in Asian and USA while the launch in the Euro zone markets will be debuted by the end of this year.
Yuthasak further stated that in 2022, the Flexible Plus Program is aimed to attract foreign investors to Thailand and help increasing flows in economic front as well as adding vitality to the investment market in compliance with the government post-Covid economic recovery measures. In addition to the direct benefits, the foreign investors and family members residing in Thailand can generate indirect benefits from their spending on tourism, accommodations, Food and Beverage, expensive products and services, and many more.
“With interesting economic growth and good investment atmosphere with high liquidity as well as convenient lifestyle and charming Culture, Thailand is the attractive Destination for investors to invest. The Flexible Plus Program is enabling motivation and investment privileges for Thailand Privilege Card membership. With additional premium lifestyle privileges, the program helps stimulating foreign investment to Thailand.”
Chandhaluk Heesawat, President, Thailand Privilege Card Co., Ltd. announced that Thailand Privilege Card is currently registered by over 16,000 members and continuing to grow. The privileges for Flexible Plus Program members including the exchange of PE Visa to Non-B Visa, the extension of Work Permit valid for 5 years, and the exchange to Non Immigrant Visa for legal spouses and children younger than 20 years (maximum 3 children) valid for 5 years with entitlement for main card privileges.
The Thailand Privilege Card participants are required to report themselves and provide investment documents to Thailand Privilege Card Co., Ltd every year for 5 consecutive years, starting from the beginning of investment. (TAT)
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