Buyers of real estate in Thailand will receive Thailand Elite premium visas from the state for free or at a discount for two years. Thus, Thailand expects to increase the inflow of foreign capital into the country.
The new program will be launched in the first quarter of 2021 and will be valid for 24 months. By purchasing one or more units of
housing in Thailand in the amount of 10 million baht ($330,200), a foreigner will be able to get an Easy Access visa for a period of five years and cost 500,000 baht ($16,400). rather than being under construction.
The Thailand Elite program has been operating in Thailand since 2003. Its recipients are mainly wealthy foreigners who plan to live in Thailand for a long period of time or who visit the Kingdom frequently on business. Most of the participants in the program are Chinese, Japanese, Koreans, British and Americans. In the last fiscal year, the number of participants in the program increased by 2,674 people. This is a record high and up 24.8 percent from the previous year.
In recent years, Thailand, especially in Bangkok and in popular tourist destinations such as Pattaya and Phuket, has been actively building condominiums. The new program should help developers who are short of cash and have large debts.
