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Tuesday, November 30, 2021

Thai cabinet gives green light to Flexible Plus program for Elite Card holders

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At a cabinet meeting held this week, the Flexible Plus program for Thailand Privilege Card holders, also known as Elite Card, was approved to promote investment in target industries and real estate activities by foreigners with high purchasing power, the plv said. government spokeswoman, Traisulee Traisoranakul, told Thai media.

“Under the Flexible Plus Program, Thailand Privilege Cardholders are required to invest at least $1 million in Thailand within one year of joining the program,” she said. “They can apply for a work permit in Thailand and are entitled to selections of additional services and benefits.”

Eligible investments under the program include investments in real estate as permitted by foreign nationals, in joint-stock or public companies, and in the Stock Exchange of Thailand approved by the Securities and Exchange Commission.

In addition, Flexible Plus program participants, along with their legal spouse and children under the age of 20, can apply for a non-immigrant visa for up to five years at a time during the period of their investment in Thailand.

Thailand’s tourism authority, the TAT, estimates that the Flexible Plus program will attract up to 10,000 foreigners with high purchasing power and generate at least Bt300 billion in rotating revenue for the country’s economy.

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