Thailand’s cabinet has approved a special visa for executives as well as experts engaged in the Eastern Economic Corridor (EEC) in a bid to support the development of targeted industries in the country.
The new visa, which will be valid for ten years, aims to attract specialists from different fields to work in the corridor, with Deputy Government Spokeswoman Rudklao Intawong Suwankiri stressing that the cabinet passed the proposal from the EEC Office for the EEC visa, VisaGuide.World reports.
In spite of the fact that the ten-year visa allows multiple entries and exits, it does not surpass the duration of the employment contract. At first, the visa permits entry and stay in Thailand for up to five years.
According to local media reports, there are four categories for the EEC visa:
- Specialists
- Executives
- Professionals
- Spouses and Dependents
In addition to this visa, specialists in the EEC can also benefit from a special personal income tax rate of 17 percent, in comparison to the current income tax rate of 35 percent which is applied in Thailand.
According to Rudklao, the EEC visa should promote the country’s target industries and also enhance Thailand’s competitiveness.
Green Light for EEC Visa & Work Permit
On November 24 last year, the Government of Thailand approved the Eastern Economic Corridor (EEC) visa and work permit for internationals, introducing a flat income tax rate of 17 percent in order to attract foreign investments.
The EEC, which covers three provinces east of the capital Bangkok, is a centerpiece of government efforts to boost growth and encourage investment, particularly in high-tech industries. The visa will have a maximum duration of 10 years, following the duration of the employment contract, and can be used an unlimited number of times, starting from January 1, 2024.
According to UNCTAD, among the benefits of the new changes are the automatic issuance of the EEC work permit, an online reporting option, unlimited usage, as well as a special fast-track channel at international airports throughout Thailand.
The Eastern Economic Corridor (EEC) development is part of Thailand’s 4.0 scheme.
The EEC project consists of three main activities, including upgrading the transport and logistics infrastructure of Thailand, establishing areas of concertation for investments in industries such as aviation and logistics and also creating areas of sustainable economic and social development through new eco-friendly technologies, in order to enhance quality of life.