Thailand Launches New Flexible Plus Program to Attract Wealthy ForeignersComments Off on Thailand Launches New Flexible Plus Program to Attract Wealthy Foreigners
The Tourism Authority of Thailand (TAT) recently released the new “Flexible Plus Program” under the Thailand Privilege Card scheme. In our experience, this program is designed to attract high-income foreigners to stay and invest in Thailand by giving them a work permit and other privileges.
The initiative offers valid card member privileges for at least ten years, and the minimum fee is one million baht. Under the program, they offer three types of cards which are:
- Elite Ultimate Privilege (EUP)
- Elite Superiority Extension (ESE)
- Elite Privilege Access (EPA)
Members of this program must invest at least USD one million within a year of the approval of their membership. It should be noted that the investment options must be from one of the following categories:
- Real estate
- Stock in the Stock Exchange of Thailand (SET)
- A Public Limited Company or Limited Company
Moreover, this program also gives privileges to the cardholder by changing the type of visa from Privilege Entry (PE) to a Non-Immigrant (B). Including their spouse and children, the member can change their visa type to Non-Immigrant (B). The benefit of this is that a Non-Immigrant (B) visa allows cardholders to apply for a work permit lawfully.
It should be noted that the program does not provide any benefits related to property ownership by foreigners.
Any member who wishes to extend their “Flexible Plus Program” must show evidence of investments made every year to the TAT. Otherwise, the status will only be valid for five years.
Please let us know if you have any questions by contacting us at [email protected]
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Fabian, a founding partner of FRANK Legal & Tax, is a German-trained lawyer with expertise in corporate/commercial, real estate law, and litigation, and has been practicing law in Thailand since 2005.