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Thailand opens doors for expats: vital reform course from 2024!
Thailand is reforming its expat policy in 2024-2025 to attract international investors and create an attractive environment.
Thailand opens doors for expats: vital reform course from 2024!
In a notable move, Thailand will comprehensively reform its expatriate policy to shine as a leading destination for foreign residents and investors in Southeast Asia. Loud The Thaiger The reforms are to be implemented gradually in 2024 and early 2025. This comes against a backdrop of increasing competition for international talent and investment in the region.
At the heart of the innovations are changes to business and visa regulations as well as property and civil rights. The Foreign Business Act (FBA) is being revised to make access easier for foreign investors. In the future, it should even be possible to hold 100% foreign ownership in specific sectors, particularly in technology and services. The FDI Regulatory Restrictiveness Index currently stands at 0.2397, which puts Thailand behind countries such as Vietnam and India in international comparison. The aim of these reforms is to improve the transparency and legitimacy of foreign investment in Thailand.
Political stability and one-stop service center
Political stability is another factor that should promote expat confidence. The Thai government is also planning measures to combat corruption through reforms that will be aligned with Organization for Economic Co-operation and Development (OECD) standards.
A key part of the new initiatives will be the Thailand Investment and Expat Services Center (TIESC), which is expected to open its doors in March 2025. This one-stop service center is intended to reduce bureaucratic hurdles for foreigners and thus make their stay in Thailand much easier.
Visa Facilitation and Property Rights
Visa requirements are also to be relaxed. Among other things, a Long-Term Resident (LTR) visa will be introduced, allowing a stay of up to 10 years, with the income limit for wealthy pensioners being abolished. Another innovative offer is the DTV visa for digital nomads with a stay of up to 180 days. Wealthy expats who invest at least 40 million baht will now be allowed to own up to one rai of land for residential purposes.
In addition, Thailand is developing a regulated framework for cryptocurrencies, including capital gains taxes and anti-money laundering regulations, to further improve the investment climate.
Advances in Civil Rights and Social Action
Another positive aspect of the reforms is the accelerated citizenship pathway for long-term residents, with over 483,000 eligible aliens able to apply for citizenship more quickly. In addition, on January 23, 2025, Thailand legalized same-sex marriage and passed a comprehensive anti-discrimination law that also benefits LGBTQ+ expats.
To make the settlement attractive in the long term, Thailand is also investing in improving public services, including healthcare, transport and digital infrastructure. The interaction of these reforms aims to provide legal clarity, long-term residency opportunities and social protection measures for expats, while promoting the country's skilled workforce and stable investments.