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Finally some good news: Thailand tipped to ease 90 day reporting for foreigners
The Thai government is set to revamp its immigraiton rules - including the 90 day reporting requirement - in a bid to attract more investors and retirees.
According to Bloomberg, the government has set up a task force in order to help make it easier for long term tourists and expats to stay in Thailand.
“We want to make it easier for foreigners to live and work in Thailand,” Chayotid Kridakorn, 54, a former head of JPMorgan Securities (Thailand) who is now leading the new task force, told Bloomberg.
The task force will propose a number of measures to the government aimed at boosting investment and tourism.
Among the proposals include relaxing immigration regulations for visa applications, work permits and 90 day reports.
Bloomberg’s article echo similar proposals first reported last month, where the Thai government aimed to target so-called wealthy retirees from Scandinavia, Europe and East Asia including South Korea and Japan, as well as Australia and New Zealand.
The types of foreign retirees targeted will be those who have a healthy pension pot, with the ability to spend 200,000 - 300,000 baht per month.
The government says that if it can attract one million retirees each spending 100,000 baht per month or 1.2million baht per year, that would generate 1.2 trillion baht per year for the economy.
Meanwhile, a source at the Ministry of Energy who spoke on the condition of anonymity told Thaivisa last week that proposals to ease restrictions on foreigners buying property in Thailand are now at an advanced stage.
Some of the proposals include amending the Condominium Act to allow foreigners to purchase up to 80 percent of a single condo development. Currently foreigners can only own up to 49 percent of the units in a condo development.
The government also wants to attract foreigners to buy a second home in Thailand.
In order to do this, it is proposed that foreigners will be allowed to purchase and own outright a house located on a development valued from 10 million baht, with a land size of not more than 1 Rai.
Finally some good news: Thailand tipped to ease 90 day reporting for foreigners
The Thai government is set to revamp its immigraiton rules - including the 90 day reporting requirement - in a bid to attract more investors and retirees.
According to Bloomberg, the government has set up a task force in order to help make it easier for long term tourists and expats to stay in Thailand.
“We want to make it easier for foreigners to live and work in Thailand,” Chayotid Kridakorn, 54, a former head of JPMorgan Securities (Thailand) who is now leading the new task force, told Bloomberg.
The task force will propose a number of measures to the government aimed at boosting investment and tourism.
Among the proposals include relaxing immigration regulations for visa applications, work permits and 90 day reports.
Bloomberg’s article echo similar proposals first reported last month, where the Thai government aimed to target so-called wealthy retirees from Scandinavia, Europe and East Asia including South Korea and Japan, as well as Australia and New Zealand.
The types of foreign retirees targeted will be those who have a healthy pension pot, with the ability to spend 200,000 - 300,000 baht per month.
The government says that if it can attract one million retirees each spending 100,000 baht per month or 1.2million baht per year, that would generate 1.2 trillion baht per year for the economy.
Meanwhile, a source at the Ministry of Energy who spoke on the condition of anonymity told Thaivisa last week that proposals to ease restrictions on foreigners buying property in Thailand are now at an advanced stage.
Some of the proposals include amending the Condominium Act to allow foreigners to purchase up to 80 percent of a single condo development. Currently foreigners can only own up to 49 percent of the units in a condo development.
The government also wants to attract foreigners to buy a second home in Thailand.
In order to do this, it is proposed that foreigners will be allowed to purchase and own outright a house located on a development valued from 10 million baht, with a land size of not more than 1 Rai.