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May 28, 2024

Thailand approves new 10-year visa for qualifying highly skilled foreign nationals

On 14 May 2024, the Thai cabinet approved a new 10-year visa to attract highly skilled foreigners to work in the Eastern Economic Corridor (EEC). Details regarding when the authorities will begin accepting applications are yet to be announced. The EEC is part of the “Thailand 4.0” initiative, a strategy for the country to achieve high-income status by 2036. The EEC project is aimed at physical and social transformation in three provinces in Eastern Thailand (i.e., Rayong, Chonburi and Chachoengsao) through a focus on 12 sectors, including automation and robotics, aviation and logistics, and biofuel and biochemicals.

A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.

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Full text of Tax Alert