Transcript of the above video:

As the title of this video suggests, we are discussing Eastern Economic Corridor here in Thailand as well as so-called Long-Term Residence Visas. Now as we have discussed many times on this channel, I don't mean to be a broken record but it bears repeating because people do misunderstand. This LTR Visa scheme, it's not Residence, it is not Permanent Residence in Thailand. It is something of a longer Visa but as we have discussed it has a number of sort of strings associated with it. Most notably there is kind of this ongoing tax audit that is associated with it; it also may or may not provide work authorization depending on circumstances. I have kind of gotten into this before where I don't quite understand how this visa can be invented out of whole cloth so I have questions about its sort of long-term viability. Leaving that aside, the big thing to take away is again not a Residence Visa, may be useful under different circumstances for different people but we are talking about this in the context of the Eastern Economic Corridor. 

I thought about making this video after reading a recent article from the Pattaya Mail, that is pattayamail.com, the article is titled: Long-Term Residence Visa (LTR Visa) looks to business rather than retirement recruits. Quoting directly: "Growing confidence in Thailand's Eastern Economic Corridor will attract growing numbers of foreigners keen to play a part in its widening scope. Mr. Chula Sukmanop, secretary-general of the EEC Office, said the staff of foreign entities could apply for the 10-year LTR Visa with automatic Work Permits as part of a one-stop shop package. The Visa also is open to retirees and global citizens but the advantages are less clear-cut to them." Again, yeah, less clear cut.

Now, with regard to the EEC as we have discussed frequently on this channel, the EEC is a fairly new thing so applying for a lot of the benefits associated with it I think the process is going to be more opaque than it would be down the line when this stuff is more set in stone. That being said, there are a number of opportunities in the Eastern Economic Corridor and it may behoove folks who are looking to do business in Thailand to seriously consider that because it goes beyond Business Visas and work authorization. There may be tax holidays; there may be certain remittances that may be allowable under the scope of the EEC that may not be allowed when doing business in Thailand otherwise. For this reason, it may be a good idea for those looking to invest in Thailand to seriously have a look at the Eastern Economic Corridor.