According to Deputy Secretary-General Danucha Pichayanan of the National Economic and Social Development Council, the Government Centre for Economic Situation Administration (CESA) approved in principle amendments to the requirements for granting permanent residence and smart visas to foreigners in an attempt to attract further investment on Wednesday (September 16).
The center is considering the prospect of granting permanent residence to buyers of condominium units, provided that applicants do not mortgage, sell, or move the properties for a period of five years after purchase.
CESA has also extended smart visa guidelines, which will also include those who want to develop start-ups or create jobs in fields other than science and technology.
It could also expand smart-visa requirements to include independent experts in Thailand who do not have a contract of work. Smart visa holders will be permitted to do jobs other than the one specified in the visa in some cases. Criteria on work experience and educational background should also be relaxed for high-ranking executives applying for a visa.
The smart visa program for Thailand was introduced to woo skilled manpower, developers, executives, and start-up entrepreneurs to work here in targeted industries.
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