Thailand is going to maintain a requirement that locals must prove they have at least THB50 million ($1.5 million) in the bank in order to enter possible future casinos in the country.
According to the Bangkok Post, the Ministry of Finance confirmed that it will propose a draft amendment to the entertainment complex bill based upon a recommendation by the nation’s Council of State.
Deputy Finance Minister Julapun Amornvivat stated that, while the government’s viewpoint on the inclusion may be different than the council’s, it will still send its desired version to parliament – where it could be adjusted.
The official himself said he disagreed with the bank balance requirement, stating that only 10,000 people in Thailand meet the requirement. He proposes instead the proof of paid income tax for three consecutive years and an entry levy of THB5,000 ($150) per person.
The bank balance proof has been a huge point of contention, as foreign investors were hoping to tap the local market. If passed by parliament as is, it could severely restrict interest in setting up shop in the nation, given the THB100 billion ($2.97 billion) investment required.
