The recent cabinet meeting of Thai Prime Minister Saito listened to the report of the Eastern Development Zone Policy Committee on the Eastern Economic Corridor Visa (ECCVISA). The purpose of introducing the Eastern Economic Corridor visa is to comply with the Eastern Development Zone Law, provide convenience for enterprises in the economic development zone, promote the development of the digital industry and innovation promotion zone (ECd), and attract foreign high-tech talents to work in Thailand. They will be able to obtain a visa for a maximum of 10 years and enjoy a 17% unified personal income tax preferential treatment.
The objectives of the Eastern Economic Corridor Visa (EEC VISA) and Digital Industry and Innovation Promotion Zone (EECd) projects can be divided into the following:
Eastern Economic Corridor visa: Exploring potential target groups who wish to work in Thailand, it is necessary to rely on technology talents or executives with professional knowledge for the development of emerging industries. High tech talents can enhance the competitiveness of Thai industries,.
Digital Industry and Innovation Promotion Zone (ECd): Enhance the competitiveness of Thailand's digital industry, support and promote the upgrading and development of existing information industries into new digital industries through digital technology and innovation, drive new drivers of economic development, and develop into digital industries and innovation centers.
Foreigners who apply for the Eastern Economic Corridor visa or change the existing visa to the Eastern Economic Corridor visa will pay the child fee at the rate of 10.000 Thai Railway/person/year. As for applying for the Eastern Economic Corridor work permit, a service fee of 20000 Thai baht per person per time is required at a rate of 10.00 Thai baht per person per year.
Foreigners applying for visas for the Eastern Economic Corridor shall have the following qualifications:
(1) Sign labor contracts with enterprises
(2) Not possessing features prohibited by immigration laws, such as illegal immigration
(3) The applicant must obtain the qualification certificate of the enterprise
(4) The Eastern Economic Corridor visa is divided into four categories:
The group with specialized knowledge (SPECIALIST "S") must be a group with knowledge and ability in matters related to the special target industry or related industries, or be conducive to the development and improvement of the special target industry.
Senior management personnel (EXECUTIVE "E") must be a group of people under management and have the authority to make decisions on industrial operations.
Practitioners (PROFESSIONAL "P") must have work experience in fields related to special target industries, or in activities related to the development and promotion of special target industries, or beneficial activities, and there must be evidence that the applicant is a professional
Spouses and family members (Others "O") refer to the spouses and family members of experts, executives, or professionals
Individuals eligible for the Eastern Economic Corridor visa can enjoy numerous benefits, as stated below:
The right to enter and reside in Thailand multiple times within the specified period, up to a maximum of 10 years
Have the right to enjoy a personal income tax preferential rate of 17%
Have the right to declare residence or self declare through the internet
Have the right to inspect visas/change types/update visas at various immigration offices in the Eastern Special Administrative Region
Have the right to bring spouses and family members to Thailand for residency together
The Thai government has racked its brains to come up with various preferential policies in order to attract high-tech talents from abroad, competing with other countries to attract talent. Compared to conventional work visas or B0 work visas, which have a duration of only 1 year or a maximum of 2 years, the eastern economy is developing
The advantages of the Lang visa are obvious, with a visa validity period of up to 10 years and only requiring payment of up to 17% personal income tax (the highest personal income tax is 35%).