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Thailand set to introduce 10-year visa but not for everyone: Check eligibility here

06:29 PM | 25 Nov, 2023
Thailand set to introduce 10-year visa but not for everyone: Check eligibility here

BANGKOK - Thailand's Deputy Prime Minister has announced introducing long-term visas for investors to attract Foreign Direct Investment, a move aimed at boosting the economy.

The official announced to introduce 10-year visas for investors engaging in specified businesses within the country's industrial eastern region. 

Phumtham Wechayachai unveiled the plan during a press briefing on Friday and said the visas would be introduced in the upcoming year to facilitate investors and ease existing restrictions.

Wechayachai elaborated that the government targets a substantial surge in actual investment, aiming for 500 billion baht ($14.23 billion) in the Eastern Economic Corridor (EEC) within 2023-2027, a notable increase from the current annual investment of 75 billion baht. 

This visa incentive will benefit employees, specialists, and executives engaged in modern, eco-friendly industries with an accompanying flat income tax rate of 17%.

The Eastern Economic Corridor is a major initiative of the authorities and it spans three provinces east of Bangkok, aimed at stimulating growth and attracting investments.

It bears mentioning that there was no mention of a Golden Visa by the authorities while highlighting the plans for the 10-year visa; however, long-term visas are generally termed as Golden Visas by countries like the United Aarab Emirates (UAE) and Portugal. The Golden Visas allow wealthy billionaires to get residency through investment though these types of visas have received criticism for also inviting criminals to the country.

The government of Portugal also faced flak for introducing and enticing wealthy individuals though its Golden Visa program; however, the government had to discontinue the program due to multiple reasons including the pressure from European Union and rising housing prices.

The government of Thailand is making efforts to attract tourists as well as investors to boost the economic growth which has slowed in the third quarter of the year; the authorities also relaxed visa rules for citizens from China and India. 

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 26 Feb 2024

Pakistani currency remains stable against US dollar in the open market on February 26, 2024 (Monday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

Euro currently stands at 302 for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 26 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.1 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94

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