La Thailand will guarantee a 10 year visa to all foreigners who will invest in the country between 250 thousand and 500 thousand dollars. He writes it today on Financial Times, specifying that Bangkok's goal is to attract capital from at least one million investors.
According to what was declared by the Thai Prime Minister, Prayut Chan-ocha, the operation is aimed a bit to all rich foreigners: From retirees to skilled professionals to digital nomads who want to work remotely while enjoying the weather and beaches in and around Phuket.
The requirements to obtain the ten-year visa they are exclusively financial: it will be necessary to invest in Thai government bonds or in real estate and to demonstrate that you have an income exceeding 80 thousand dollars. Only for retirees the requirements are halved.
Thailand's move may seem like a desperate move, and indeed it is: the Government is trying everything to give the economy a bit of breathing space, heavily hit by the collapse of tourism during the pandemic. Also because, after the disaster of 2020, the situation is still struggling to normalize: since the beginning of the year, the baht, the Thai currency, has recorded one of the worst performances among Asian currencies.
Meanwhile, in recent weeks in Thailand have been organized numerous protest demonstrations against the government, which was attended by thousands of people. The mobilizations pointed the finger at the executive's response to Covid - considered insufficient and late - and were violently repressed.
