Thailand’s cabinet has approved a special 10-year visa for executives and experts working in the Eastern Economic Corridor (EEC) to support the development of targeted industries in the country.
Thailand okeys 10-year EEC visa for foreigners. (Photo: bangkokpost.com)
Bangkok (VNA)ꩵ – Thailand’s cabinet has approved a special 10-year visa for executives and experts working in the Eastern Economic Corridor (EEC) to support the development of targeted industries in the country.
Deputy government spokeswoman Rudklao Intawong Suwankiri said the cabinet passed the proposal from the EEC Office for the EEC visa, aiming to attract specialists in various fields to work in the corridor.
This visa is valid for 10 years, allowing multiple entries and exits, but does not exceed the duration of the employment contract. Initially the visa allows entry and stays in Thailand for up to five years.
There are four categories for the EEC visa: specialists, executives, professionals, and spouses and dependents.
In addition to this special visa, specialists residing and working in the EEC can benefit from a special personal income tax rate of 17%, compared with the current progressive income tax rate in Thailand which has a maximum rate of 35%.
The EEC is located in three provinces in eastern Thailand including Rayong, Chonburi, and Chachoengsao. Under the EEC development plan for 2023-2027, Thailand aims to attract an average annual total investment of about 2.8 billion USD and turn the region into a hub for technology, manufacturing, services and connectivity with neighbouring countries in the Association of Southeast Asian Nations (ASEAN).
Key sectors attracting investment to the EEC include health services, digital, electric vehicles, biotechnology, circular economy, and green economy./.
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