Increasing the period of visa-free stay in Thailand to 45 days: what does this mean for foreign investors

Since 15 July 2023, Thailand has significantly expanded the list of countries whose citizens can enter the country without a visa. Visa-free entry is now available to citizens of 93 countries. This important innovation is aimed at stimulating the tourist flow and attracting foreign investors. In this article, we will look at how the visa-free regime affects the foreign real estate market, in particular real estate in Thailand and Phuket, and what opportunities open up for investors looking for high-yield investments.

New Visa Waiver Rules

Since 15 July 2023, Thailand has introduced a visa-free regime for citizens of 93 countries. Tourists from these countries can stay in Thailand for up to 45 days without a visa. This step is aimed at simplifying entry into the country and increasing its attractiveness for tourists and investors.

Major changes include:

• Visa-free stay extended: Tourists from these countries can stay in Thailand for up to 45 days without a visa.
• Facilitation of entry procedures: Tourists and investors are free to cross the border, contributing to increased business activity and tourism.

Among the countries included in the list are the USA, Canada, Great Britain, Australia, Japan and many others. This will attract more tourists and potential investors from these countries.

Impact on Thailand's real estate market

The visa-free regime significantly simplifies the process of purchasing real estate for foreign citizens. With the period of visa-free stay increasing to 45 days, potential buyers get more time to inspect facilities and conclude transactions.

*Real Estate Thailand: Ease of entry contributes to increased interest in purchasing real estate in Thailand. The increased flow of tourists, many of whom are considering long-term accommodation or investment, has a positive effect on the demand and value of real estate.

• Property Phuket: Phuket, as one of the most popular resort regions, attracts the attention of foreign buyers. Increasing the period of visa-free stay contributes to increased interest in purchasing luxury real estate and developing tourism infrastructure.

Prospects for investors

Visa-free entry for 93 countries makes Thailand even more attractive to investors in foreign real estate. Main benefits include:

• Increasing the flow of potential buyers: Ease of entry and extended stay attract more foreign buyers, which contributes to increased demand for real estate.
  *Rise in property prices: With increasing demand for real estate, we can expect rising prices, which makes investments in Thailand especially profitable.
• Stable rental income: Increased tourist and business visits create high demand for rental properties, providing a steady income for investors.

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