Heading 2: Introduction
The Thailand Privilege Card Co., Ltd. has recently launched the Flexible Plus Program, targeting affluent foreign investors with high purchasing power. The aim of this program is to stimulate cash flow and support the recovery of the Thai economy, which has been severely impacted by the Covid-19 pandemic. Yuthasak Supasorn, TAT Governor and Chairman of the Board of Directors, unveiled that the investment principle of the Flexible Plus Program has been approved by the cabinet resolution on 19 October 2021. This program offers various privileges to Thailand Privilege Card holders, with the goal of encouraging foreign investors to invest in Thailand.
Heading 2: Approval and Privileges
On 6 January 2022, the Royal Thai Government Gazette announced the Ministry of Interior’s approval of the Flexible Plus Program privileges. Under this program, foreign Thailand Privilege Card holders are eligible to stay in the kingdom and obtain a work permit. The program has been established to encourage overseas investment and aid in the recovery of Thailand’s economic downturn caused by the Covid-19 pandemic.
Heading 3: Eligibility and Membership Categories
Foreign investors who are eligible for the Flexible Plus Program include Thailand Privilege Card members with a membership package of 10 years or more. Existing members are required to have at least 5 years with a non-immigrant permit validity. The program is limited to holders with a membership fee of one million baht or more. The card categories entitled to these privileges include Elite Ultimate Privilege, Elite Superiority Extension, and Elite Privilege Access. To qualify, members must invest at least one million US dollars within one year after registration or approval of membership.
Heading 3: Restricted Investments and Target Countries
Foreign investors participating in the Flexible Plus Program are restricted from investing in certain sectors, including real estate, limited companies or public companies, and stock exchanges in the Stock Exchange of Thailand. The program primarily targets countries such as China, Japan, the UK, Hong Kong, Russia, France, the USA, and Singapore.
Heading 2: Implementation and Expansion
The Flexible Plus Program has been introduced through various channels, including TAT offices, overseas government agencies, online marketing programs, and 27 sales agencies covering markets in Asia and the USA. The launch in the Euro zone markets is scheduled for the end of this year. Yuthasak Supasorn further stated that the program aims to attract foreign investors to Thailand in 2022, thereby increasing economic flows and adding vitality to the investment market. The program aligns with the government’s post-Covid economic recovery measures.
Heading 2: Benefits and Opportunities
In addition to the direct benefits of the Flexible Plus Program, foreign investors and their family members residing in Thailand can enjoy indirect benefits from their spending on tourism, accommodations, food and beverage, expensive products and services, and more. The program not only provides investment privileges but also offers additional premium lifestyle privileges, thereby stimulating foreign investment in Thailand.
Heading 2: Thailand Privilege Card Registration and Reporting
Thailand Privilege Card Co., Ltd. has registered over 16,000 members for the Thailand Privilege Card. The Flexible Plus Program offers several privileges to its members, including the exchange of PE Visa to Non-B Visa, the extension of Work Permit valid for 5 years, and the exchange to Non-Immigrant Visa for legal spouses and children under 20 years old (up to a maximum of 3 children) valid for 5 years with entitlement for main card privileges. Participants of the Thailand Privilege Card are required to report themselves and provide investment documents to Thailand Privilege Card Co., Ltd. every year for 5 consecutive years, starting from the beginning of their investment.
In conclusion, the Flexible Plus Program introduced by the Thailand Privilege Card Co., Ltd. aims to attract affluent foreign investors with high purchasing power to invest in Thailand. This program offers various privileges to Thailand Privilege Card holders, encouraging foreign investment and supporting the recovery of Thailand’s economy. With its implementation through various channels and the benefits it provides, the program is expected to stimulate cash flow, increase economic flows, and add vitality to the investment market in Thailand.
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