Thaksin Touts Golden Visa, Higher Travel Fees to Boost Thailand

Former Thai Prime Minister Thaksin Shinawatra suggested the country create a golden visa scheme for wealthy foreigners to become long-term residents and called on Airports of Thailand Pcl to hike passenger service fees to boost the sluggish economy.

The golden visa scheme could potentially bring in the equivalent of Thailand’s $500 billion economy, Thaksin said in a speech at the “Unlocking Thailand’s Future” conference in Bangkok on Thursday evening. He suggested the country could attract 600,000 people who would deposit $1 million apiece for the visa. In return, they’d get rights to buy property in Thailand, helping the real estate sector, with the proceeds to fund education for Thai people.