visa
Eastern Economic Corridor (EEC) Visa
30/01/2024
Thailand’s Eastern Economic Corridor (EEC) has recently introduced a new visa which has been designed to attract foreign investors and stimulate economic growth. The EEC visa offers a 10-year visa, streamlined work permit procedures, and a flat tax rate of 17% for foreigners engaging in strategic economic activities within the EEC.
In this blog post, we will explore what the EEC is and who is eligible to apply for one.
Key points
- The EEC visa offers unique benefits for holders including; a 10-year visa, streamlined work permit procedures, and a flat tax rate of 17% for foreigners engaging in strategic economic activities within the EEC.
- The EEC visa is eligible to four types of applicants; Specialists (S), Executive (E), Professionals (P) and Dependents (O).
- The EEC visa is available to applications who are active in specific targeted industries.
What is the EEC Visa?
The EEC visa is designed to provide an attractive visa option for foreign investors who specialise in certain targeted areas. The EEC visa has been broken down into four types of category:
- Specialists (EEC Visa “S”),
- Executives (EEC Visa “E”),
- Professionals (EEC Visa “P”), and Spouses and
- Dependents (EEC Visa “O”).
Each category offers unique advantages and benefits to help facilitate the entry and stay of foreign investors in Thailand.
Specialists: EEC Visa “S”
The EEC Visa “S” is specifically designed for specialists in active various industries. This visa category aims to attract individuals with specific expertise and skills that are in high demand within the targeted sectors of the EEC.
Executives: EEC Visa “E”
The EEC Visa “E” is designed for executives who hold key positions in companies operating within the EEC. This visa category aims to attract experienced professionals who can contribute to the growth and development of businesses within the EEC.
Professionals: EEC Visa “P”
The EEC Visa “P” is intended for professionals in various fields who wish to work and invest in the EEC. This visa category targets individuals with specialized knowledge and skills that are considered essential for the development of industries within the EEC.
Spouses and Dependents: EEC Visa “O”
The EEC Visa “O” is dedicated to spouses and dependents of foreign investors working or investing in the EEC. This visa category aims to facilitate the ability for families to be together and support the well-being of foreign investors.
What are the Targeted Industries to Qualify for the EEC Visa?
The EEC focuses on promoting and developing specific industries that match Thailand’s economic growth strategy. These industries span both existing sectors and new, next-generation sectors.
The existing sectors include:
- automotive,
- electronics,
- petrochemical,
- agriculture and food, and
- tourism
The new next-generation sectors includes:
- automation and robotics,
- aerospace,
- digital,
- biotechnology, and
- medical and healthcare.
What are the Benefits of the EEC Visa?
The introduction of the EEC visa brings a variety of benefits for foreign investors who are eligible for this visa. These advantages are designed to streamline entry procedures, provide tax incentives, and enhance the overall experience for investors and their families. Available benefits include:
Automatic Work Permit Issuance
One of the key benefits of the EEC visa is the automatic issuance of the EEC work permit. This eliminates the need for foreign investors to go through complex and time-consuming work permit application processes. With the EEC visa, investors can seamlessly obtain their work permits, allowing them to focus on their business operations without unnecessary bureaucratic hurdles.
Flat Income Tax Rate of 17%
Foreign investors who obtain the EEC visa will benefit from a flat income tax rate of 17%. This favourable tax rate provides a competitive advantage for investors, reducing their tax burden and increasing their overall profitability. The 17% flat income tax rate applies to income earned within the EEC, further incentivizing foreign investors to engage in the region’s economic activities.
Maximum Visa Duration of 10 Years
The EEC visa offers a maximum visa duration of 10 years, providing long-term stability and security for foreign investors. The visa duration is linked to the investor’s employment contract, ensuring that they can remain in Thailand for an extended period while actively contributing to the growth and development of the EEC. This extended visa duration also eliminates the need for frequent visa renewals.
Multiple Entry Visa and Online Reporting Options
Another significant advantage of the EEC visa is its ability to allow the holder to leave and re-enter Thailand as much as they like during its validity. Additionally, the EEC visa offers online reporting options, simplifying the reporting requirements for investors and ensuring compliance with local regulations.
Dedicated Fast-Track Channel at International Airports
The EEC visa includes a dedicated fast-track channel at international airports across Thailand. This special channel makes the immigration process far more convenient, allowing investors to bypass long queues and waste time at the airport.
What is the The EEC?
The Eastern Economic Corridor (EEC) is a strategic economic zone covering three provinces east of Bangkok, Chachoengsao, Chonburi and Rayong. The EEC was created to help boost economic growth, attract investments in high-tech industries and improve innovation and development in the region.
The introduction of the EEC visa will help boost the EEC’s position as a top destination for foreign investors looking to expand their operations and enter the Thai market.
How can Belaws help?
For more information about the EEC visa, why not talk to one of our experts now?
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Frequently asked questions
What is the Eastern Economic Corridor (EEC) Visa, and who is it designed for?
The EEC Visa is a special visa introduced by Thailand’s Eastern Economic Corridor to attract foreign investors and stimulate economic growth. It is designed for foreign investors engaging in strategic economic activities within the EEC.
What are the key benefits of the EEC Visa for foreign investors?
The EEC Visa offers a 10-year visa, streamlined work permit procedures, and a flat tax rate of 17%. Other advantages include automatic work permit issuance, a maximum visa duration of 10 years, multiple entry options, online reporting, and a dedicated fast-track channel at international airports.
Who is eligible to apply for the EEC Visa?
The EEC Visa is open to four types of applicants: Specialists (S), Executives (E), Professionals (P), and Dependents (O). Each category targets individuals with specific expertise and skills relevant to the targeted industries within the EEC.
What are the targeted industries for the EEC Visa?
The EEC focuses on promoting industries aligning with Thailand’s economic growth strategy. This includes existing sectors like automotive, electronics, petrochemical, agriculture and food, and tourism. Additionally, new next-generation sectors such as automation and robotics, aerospace, digital, biotechnology, and medical and healthcare.
How does the EEC Visa contribute to the growth and development of the EEC region?
By attracting foreign investors with specialized skills, the EEC Visa aims to boost economic growth, attract investments in high-tech industries, and enhance innovation and development in the Eastern Economic Corridor.
What role does Belaws play in the EEC Visa process?
Belaws plays a crucial role in simplifying and facilitating the EEC Visa application process. Our services are tailored to assist foreign investors at every step, ensuring a smooth and efficient experience. From expert guidance on eligibility criteria to seamless documentation support, Belaws is your trusted partner in navigating the complexities of obtaining an EEC Visa. Discover the ease of securing your 10-year visa, streamlined work permits, and enjoying the benefits of strategic economic activities within the EEC with Belaws by your side.
Can I change my tourist visa to an EEC visa?
No, the EEC Visa is not typically a conversion option for tourist visas. It is specifically designed for foreign investors engaging in strategic economic activities within the Eastern Economic Corridor (EEC). To obtain an EEC Visa, you would generally need to apply separately and meet the eligibility criteria outlined for each category.
How much should I invest to qualify for the EEC Visa?
The EEC Visa is designed to attract foreign investors to contribute to the economic activities within the EEC. Eligibility may be based on your engagement in specific targeted industries and meeting other criteria rather than a specific investment amount.
Is the EEC Visa considered an investor visa?
Yes, the EEC Visa can be considered a type of investor visa as it targets foreign investors engaging in strategic economic activities within the Eastern Economic Corridor. It offers unique benefits, including a 10-year visa, streamlined work permit procedures, and a flat tax rate of 17% for individuals actively involved in the targeted industries.
How long can I stay in Thailand with the EEC Visa?
The EEC Visa offers a maximum visa duration of 10 years. This provides long-term stability and security for foreign investors actively contributing to the growth and development of the EEC. The visa duration is typically linked to the investor’s employment contract, eliminating the need for frequent visa renewals.
What is the difference between the EEC visa and the LTR visa ?
The EEC Visa is designed for foreign investors engaging in strategic economic activities within Thailand’s Eastern Economic Corridor, offering a 10-year visa with a flat 17% tax rate. On the other hand, assuming “LTR visa” refers to a long-term visa, such as the Retirement Visa (O-A), it is intended for retirees, allowing annual renewals and generally not involving specific industry engagement.
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