Business news from Ukraine

Business news from Ukraine

Thailand has streamlined process for issuing 10-year visas, which have injected $1.28 billion into economy

Thailand has launched a new digital system for issuing Long-Term Resident (LTR) visas, which allow foreign investors, affluent retirees, and highly skilled professionals to reside in the country for up to ten years. Since the program’s launch in September 2022, authorities have approved more than 12,000 applications, estimating the total economic impact at $1.28 billion.

The system integrates the Department of Consular Affairs, the Immigration Bureau, the Department of Employment, and the Thai Revenue Department.

Previously, applicants had to interact with several government agencies, which complicated the process of obtaining visas and work permits.

The new platform, launched in September 2026, enables centralized document processing and information sharing among agencies.

Additionally, foreign investors and professionals can contact the Thailand Investment and Expat Services Center (TIESC), located in the One Bangkok business complex in Bangkok.

According to the BOI, 12,010 foreign nationals have been approved for an LTR over the four years the program has been in effect.

U.S. citizens rank first in terms of the number of approved applications—more than 2,400 people.

Japan ranks second with more than 1,300 approvals, and the United Kingdom ranks third with over 1,000.

A significant portion of Japanese participants are highly qualified specialists working in Thailand’s automotive, electronics, and other technology sectors.

The largest category of LTR recipients is wealthy retirees. According to published statistics, the breakdown of program participants is as follows:

Wealthy Pensioners—4,561 people.

Dependents of primary recipients—3,891.

Highly-Skilled Professionals—1,779.

Professionals working remotely for foreign companies (Work-from-Thailand Professionals) – 1,043.

Wealthy global citizens – 737.

Among visa recipients in the two professional categories, 54% hold executive positions, while another 36% are specialists in various fields.

However, the BOI’s published report does not provide specific data on the number of Ukrainian citizens participating in the program.

According to the Board of Investment’s estimates, over four years the LTR program has contributed approximately 43 billion baht, or $1.28 billion, to Thailand’s economy.

On average, each visa recipient accounts for more than 3.6 million baht, which is equivalent to approximately $107,000 in economic impact.

This calculation includes direct foreign investment, domestic living and consumption expenses, visa fees, and tax revenues from highly skilled professionals.

Thus, the figure of $1.28 billion does not mean that the entire amount entered Thailand exclusively in the form of foreign direct investment.

BOI Secretary-General Narit Therdsterasukdi noted that the program helps attract international specialists and corporate executives needed for the development of high-tech industries.

In particular, Thailand is interested in expanding semiconductor production and developing artificial intelligence, robotics, the aviation industry, biotechnology, and modern electronics.

The Long-Term Resident Program covers four main categories of foreign nationals: high-net-worth investors, affluent retirees, specialists working remotely for foreign companies, and highly skilled professionals.

Each category has specific requirements regarding income, net worth, investments, professional activities, and health insurance.

In January 2025, the Thai government had already relaxed a number of eligibility requirements for the program.

In particular, the mandatory requirement of at least five years of professional experience was eliminated for highly qualified professionals and remote workers.

For remote workers, the minimum revenue requirement for the foreign employer was lowered from $150 million to $50 million.

For high-net-worth investors, the focus shifted from a mandatory annual income of $80,000 to holding assets and making long-term investments in Thailand totaling at least $500,000.

These changes have expanded the pool of potential program participants; however, the new 2026 digital portal does not, in and of itself, waive the existing financial requirements.

The LTR visa grants the right to reside for up to ten years: the permit is initially granted for five years and may then be extended for another five years, provided the established conditions are met.

Among the program’s benefits are simplified immigration reporting procedures, the ability to obtain a digital work permit for eligible categories, and certain tax benefits.

The cost of processing an LTR in Thailand after approval is 50,000 baht. Submitting the application and its preliminary review are free of charge.

However, the LTR is a long-term visa and does not automatically grant permanent residency or Thai citizenship. In addition to the LTR, the country continues to use special visa programs for foreign company executives and technology entrepreneurs, including the BOI Visa and the Smart Visa.

The Thailand Board of Investment views these mechanisms as part of the government’s policy to attract foreign capital and skilled workers and to develop the country’s technology sectors.

 

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Moldova May Introduce Visas for Russians and Belarusians as Part of Its EU Accession Process

Moldova is considering the possibility of introducing a visa regime for citizens of Russia, Belarus, and nine other countries as part of its preparations for accession to the European Union. These changes could be part of the mandatory alignment of Moldovan immigration legislation with European standards.

Moldovan Prime Minister Vasile Tofan made this statement during an appearance on the “Cutia Neagră” program on TV8.

“We want to continue on the European path. I’m not yet ready to name a date. If EU standards require it, I believe we must make decisions that will allow us to move forward in the process of European integration,” the head of government said.

The basis for discussing these changes was the European Commission’s annual report on Moldova’s progress toward EU membership, presented on November 4, 2026.

The document notes that Moldova’s visa policy does not yet fully comply with EU requirements. In particular, Chisinau maintains a visa-free regime with 11 countries whose citizens require visas for short-term entry into the EU.

This list includes Russia, Belarus, Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Qatar, Tajikistan, Turkey, Uzbekistan, and Vanuatu.

The European Commission recommends that Moldova continue to align its national visa legislation with European standards. Until this process is complete, Brussels proposes strengthening checks on third-country nationals who benefit from visa-free entry, particularly in cases where there are migration risks or security threats.

The report also notes that in December 2025, Moldova adopted a law denouncing the CIS agreement on visa-free travel. The European Commission views this step as a preparatory stage for further alignment of visa policy with EU legislation.

At the same time, the denunciation of the agreement does not in itself mean the automatic introduction of visas for citizens of all CIS countries.
As of November 6, 2026, citizens of Russia and Belarus can still enter Moldova without visas. Current rules allow for stays of up to 90 days within a 180-day period.

The Moldovan government has not yet specified the exact timing of a possible change to the visa regime.
Similar measures are already being taken by other countries seeking to join the European Union. In particular, Montenegro introduced a visa regime for citizens of Russia, Belarus, China, Saudi Arabia, and Turkey effective November 1, 2026.

Albania had previously abolished its permanent visa-free regime for citizens of Belarus.

Moldova applied for membership in the European Union on March 3, 2022, received candidate country status in June of that year, and officially began accession negotiations on June 25, 2024.
In 2026, the country continued the negotiation process, opening several thematic chapters related to the internal market, competitiveness, and external relations.

The Moldovan authorities expect to conclude EU accession negotiations by early 2028, while maintaining their long-term goal of becoming a member of the EU by 2030.

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Vietnam Proposes Introducing Talent Visa and Tax Incentives for Foreigners

Vietnam plans to introduce a special visa for highly qualified foreign specialists (the Vietnam Talent Visa), which will provide for a simplified process for obtaining residence permits, exemption from the requirement to obtain a work permit, and preferential conditions for family members. At the same time, it is proposed to exempt specialists involved in strategic projects from paying personal income tax for five years.
The Ministry of Public Security released the corresponding draft resolution of the National Assembly of Vietnam on October 16, 2026, for public comment.
The legislative initiative consists of 16 articles and aims to attract foreign experts, scientists, researchers, technology entrepreneurs, and other highly qualified specialists to implement strategic state programs, investment projects, and the development of an innovative economy.
The document applies not only to foreigners but also to Vietnamese citizens and members of the Vietnamese diaspora living abroad.

What benefits does the talent visa offer?
According to the draft, foreign specialists who meet the established criteria will be able to obtain a special visa and a corresponding temporary residence card.
Provisions are made for extending the duration of stay and changing the purpose of residence in accordance with immigration law.
Visa holders will be permitted to work simultaneously at multiple companies, research institutions, or government organizations without having to obtain a separate work permit for each employer.
When changing jobs, foreign specialists will not need to reapply for their current visa.
These simplifications will also apply to family members. Spouses and children under the age of 18 will be able to obtain UĐ2 visas and the corresponding temporary residence permits.
In addition, the state must ensure favorable conditions for the residence and education of the children of foreign specialists.

Five-Year Tax Holiday
One of the key provisions of the legislative initiative is a five-year exemption from personal income tax.
The exemption will apply to the salaries and bonuses of qualified specialists and the employees they recruit who perform strategic tasks.
It is proposed that the five-year period be calculated from the date the relevant income is earned.
At the same time, tax incentives will be available not only to specialists working in government agencies but also to employees of private companies involved in the implementation of strategic projects.
Separate incentives are provided for employers. Companies that hire qualified specialists to carry out strategic tasks will be able to additionally include in their tax-deductible expenses an amount equivalent to 50% of the salaries and bonuses actually paid to such employees.
Thus, the total amount of labor costs that can be taken into account when determining taxable income will potentially amount to 150% of actual payments.

Vietnam plans to allocate approximately 0.1% of GDP annually to talent development
The government also proposes establishing a special funding mechanism for programs aimed at attracting and developing highly qualified personnel.
It is planned to allocate approximately 0.1% of GDP annually for these purposes as part of the overall funding for science, technology, innovation, and digital transformation.
Priority will be given to projects of strategic importance to the country’s economy, particularly in the fields of high technology, scientific research, digitalization, and the modernization of production.
At the same time, the proposed selection system calls for an assessment of actual professional achievements and specialists’ ability to perform specific tasks.
Possession of a scientific degree, an academic title, or extensive professional experience will not be a mandatory requirement, except in cases where such requirements are explicitly stipulated by law for a specific type of activity.
According to the drafters, this will make it possible to attract not only renowned scientists but also young technology entrepreneurs, engineers, and developers of innovative products.

What the New Rules Will Mean for Foreign Investors
The proposed changes could increase Vietnam’s appeal to international technology companies, research and development centers, and enterprises implementing high-value-added investment projects.
Simplifying the hiring process for foreign experts and allowing them to work with multiple organizations simultaneously could reduce administrative costs for businesses and facilitate technology transfer.
At the same time, the proposed program is not a universal visa for digital nomads or an automatic pathway to obtaining a residence permit through real estate purchases.
Its main goal is to attract specialists to specific strategic programs and projects identified in accordance with national priorities.
The resolution has not yet been adopted. Once the public consultation period concludes, the document is to be reviewed by the National Assembly of Vietnam. The final selection criteria, application procedures, and validity periods for special visas will depend on the approved legislation.
Vietnam is one of the Southeast Asian economies actively attracting foreign investment in manufacturing, electronics, digital technologies, and infrastructure. In recent years, the country has been developing special support mechanisms for investors and highly qualified professionals with the aim of modernizing the economy and enhancing its international competitiveness.

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Latvian Prime Minister Calls on EU to Completely Halt Issuance of Tourist Visas to Russians

Latvian Prime Minister Andris Kulbergs has called for a complete halt to the issuance of tourist visas to Russian citizens at the European Union level. In his view, such restrictions are necessary to counter the hybrid threats faced by European states.

As reported by the Financial Times on October 18, 2026, Kulbergs, in an interview with the publication, called on all EU countries to tighten visa policies toward Russian citizens, emphasizing the need for a unified approach to security issues.

According to the Latvian prime minister, the country faces hybrid threats from Russia on a daily basis, including attempts to cross the border illegally, the use of migration flows to destabilize the situation, as well as risks of sabotage and intelligence activities.

Kulbergs noted that in 2026, Latvia expects to face the greatest migratory pressure on its borders in the past five years. He believes that restricting Russian tourist travel to Europe should be one of the preventive security measures.

The Latvian prime minister paid particular attention to France, Italy, and Spain, which remain the EU countries that issue the most Schengen visas to Russian citizens.

According to the European Commission, these three countries account for over 70% of the visas issued to Russians in 2025. In total, Russian citizens received over 600,000 Schengen visas last year.

The issue of further tightening visa restrictions was discussed during the European Council meeting in Brussels on October 15–16. German Chancellor Friedrich Merz stated that the EU has the capacity to impose additional restrictions on private and business travel by Russian citizens.

According to the Financial Times, France is also considering significantly tightening visa restrictions, particularly regarding former Russian military personnel. Italy has shown a willingness to discuss additional measures, although these countries had previously not supported a complete ban on tourist visas.

At the same time, no pan-European decision to suspend the issuance of tourist visas to Russians has been adopted yet. The issuance of short-term Schengen visas remains the responsibility of the national authorities of EU member states, which review applications in accordance with the Common Visa Code.

Following the start of Russia’s full-scale invasion of Ukraine, the European Union has already imposed a series of restrictions. In particular, on September 12, 2022, the agreement on a simplified visa regime between the EU and Russia was suspended.

This has led to higher visa processing fees, stricter documentation requirements, and longer processing times for applications.

In November 2025, the European Commission further restricted the issuance of multiple-entry Schengen visas to Russian citizens residing in and applying from Russia, while maintaining certain exceptions.

In July 2026, the EU also adopted a legal framework to restrict the issuance of short-term visas to Russian military personnel and former combatants who participated in hostilities against Ukraine. The relevant provisions allow for exceptions on humanitarian grounds and other grounds specified by law.

According to European Commission estimates, the number of Schengen visas issued annually to Russian citizens has fallen from approximately 4 million before the start of the full-scale war to 618,000 in 2025.

Latvia’s proposal calls for further tightening of these restrictions and the effective cessation of Russian tourist travel to Schengen countries on the basis of new tourist visas.

Andris Kulbergs has led the Latvian government since May 28, 2026. Previously, he served as a member of the Saeima and worked on parliamentary committees on economic affairs, entrepreneurship, energy, and regional policy. Latvia is a member of the European Union and NATO and shares a border with Russia and Belarus.

Source: Financial Times, interview dated October 18, 2026

 

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U.S. Has Tightened Visa Restrictions on Organizers of “Birth Tourism”

The U.S. has imposed new visa restrictions on foreign nationals who knowingly participate in organizing so-called “birth tourism” or facilitate such trips, U.S. Secretary of State Marco Rubio announced.
The State Department’s new policy took effect on September 23, 2026, and is enforced under Section 212(a)(3)(C) of the U.S. Immigration and Nationality Act. The restrictions may apply to individuals who participate, have previously participated, or assist in organizing trips to the U.S. with the primary purpose of giving birth to a child and securing U.S. citizenship for that child.
Specifically, the measures may affect owners, executives, and managers of companies specializing in “birth tourism,” visa brokers who instruct clients to provide false information when applying for visas, as well as foreign healthcare professionals who knowingly facilitate such trips or the fraudulent use of the Medicaid program. The restrictions may also extend to other individuals who support commercial schemes and, in certain cases, to their family members.
According to Rubio, commercial “birth tourism” networks advertise their services abroad, help applicants conceal the true purpose of their trip, and may charge tens of thousands of dollars to arrange childbirth on U.S. soil.
However, this is not the first time a ban has been in place on using a B-category visitor visa for a trip whose primary purpose is to give birth to a child in order to obtain U.S. citizenship for that child. Since January 24, 2020, U.S. consular officers have been required to deny a B visa if they have reason to believe that this is the primary purpose of the trip.
The new 2026 policy shifts the focus from the applicants themselves to the organizers, intermediaries, and infrastructure behind such schemes. Immigration lawyers note that the State Department has not yet disclosed in detail what evidence will be used, how exactly individuals subject to the restrictions will be identified, or whether the new measures will affect visas that have already been issued.
Pregnancy alone is not an automatic basis for visa denial. The State Department continues to allow travel to the U.S. for medical treatment, including medical care during pregnancy, provided the applicant meets the requirements for the relevant visa and can confirm the purpose of the trip and the ability to pay for medical expenses. However, “birth tourism”—where the primary purpose is to obtain U.S. citizenship for a child—is not officially considered a valid basis for issuing a visitor visa.

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Montenegro will introduce visas for citizens of Russia, Belarus, and Turkey starting November 1—these changes could affect tourism and real estate market

According to an analysis by the Serbian business portal Parametar, starting November 1, 2026, Montenegro will introduce a visa requirement for citizens of Russia, Belarus, and Turkey, which could significantly impact the country’s tourism, labor market, rental sector, and real estate market.

On September 24, the Montenegrin government confirmed the initiation of the procedure to terminate the existing visa-free travel agreements with these three countries. The decision was made as part of efforts to bring the country’s visa policy into line with European Union regulations. As early as July 23, the government approved changes to the visa regime, which are set to take effect on November 1.

Until October 31, citizens of Russia and Belarus may enter Montenegro without a visa and stay there for up to 30 days. A similar visa-free regime applies to Turkish citizens. Once the new rules take effect, holders of ordinary passports will need a Montenegrin visa. Regarding Turkey, Podgorica plans to conclude a separate agreement, maintaining visa-free entry for holders of diplomatic, service, and special passports.

However, there are significant exceptions. Citizens of these countries who hold a valid Schengen, U.S., British, or Irish visa or a corresponding residence permit will, as before, be able to enter Montenegro without a separate Montenegrin visa for up to 30 days.

The new regime also does not require a tourist visa for foreigners who already hold a valid temporary or permanent residence permit in Montenegro or a permit for temporary residence and work.
According to data from the Montenegrin Ministry of the Interior cited by Parametar, as of the end of 2025, 20,793 Russian citizens and 13,506 Turkish citizens held temporary or permanent residence permits. Together, these two communities account for approximately 5.5% of the country’s population, which totals about 624,000 people.

The Belarusian community is significantly smaller. According to the latest census, as of late October 2023, 738 Belarusian citizens had permanent residence in Montenegro; more recent data on Belarusians is not currently available.

Tourism could become one of the most vulnerable sectors. In 2025, Russian tourists accounted for 16.4% of all overnight stays by foreign visitors in Montenegro, while tourists from Turkey accounted for another 4.3%. In the private accommodation segment, the Russian market’s share reached 22.1%, while the Turkish market’s share was 4.9%. Thus, these two countries accounted for more than a quarter of all foreign overnight stays in apartments, villas, and other private accommodations.

According to Parametar’s assessment, the most noticeable impact may not be among Russians and Turks who already legally reside in Montenegro, but rather among new tourists, real estate buyers, renters, and those considering the country as a place to relocate. This is particularly important for Budva, Bar, Tivat, Kotor, and Herceg Novi, where foreign demand plays a significant role in the rental, real estate, hospitality, and service markets.

The changes may also affect the labor market. In 2025, 10,346 temporary residence and work permits were issued to Turkish citizens, and 7,429 to Russian citizens. Turkey has become the largest source of foreign labor in Montenegro. The introduction of an additional visa procedure for new workers could potentially delay their recruitment in the construction, hospitality, and other sectors.

The visa reform is linked to Montenegro’s EU accession process. The country’s government notes that full alignment of visa policy is one of the conditions for closing Negotiation Chapter 24, “Justice, Freedom, and Security.” Fulfilling this condition also paved the way for receiving approximately 4 million euros under the EU Growth Plan for the Western Balkans.

As part of a broader reform of Montenegro’s visa regime, visa requirements will also apply to citizens of China and Saudi Arabia starting November 1, since Podgorica’s previous policy toward these countries was also not in line with EU regulations. However, the government’s September 24 decision to suspend international agreements directly concerns Russia, Belarus, and Turkey.

Parametar article on Montenegro’s new visa regime

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