Thailand 4-year Smart Visa Application
A new 4-year visa for professionals, ‘Smart Visa’, has been announced by the Thai Cabinet and will be issued from February 2018. The Smart Visa is aimed at entrepreneurs investing in new businesses, highly-skilled professionals, or executives. The Thai government hopes the new visa will enable knowledge transfer that will boost business growth and bring long-term economic benefits.
Thailand Smart Visa Eligible Industries
Applications for the Thailand Smart Visa will begin on February 1, 2018, and will only apply to the ‘S-Curve’ targeted industries:
- First S-Curve industries – Next-generation automotive, smart electronics, medical and wellness tourism, ‘food for the future’, and agriculture and biotechnology.
- The five New S-Curve industries – Automation and robotics, aviation and logistics, biochemicals and eco-friendly petrochemicals, digital businesses, and medical hubs
Thailand Smart Visa Eligible Personnel
SMART “T” – Talent
Eligibility
- Science and technology experts
- Minimum monthly salary of 200,000 Baht
- Employment contract from a S-Curve company with a minimum of one-year remaining
Rights & Benefits
- 4-year visa, but not exceeding the contract term
- No work permit required for working in the endorsed company
- 90-day Immigration reporting extended to one-year
- No re-entry permit required
- Similar benefits extended to spouse and children
SMART “I” – Investor
Eligibility
- Minimum investment of 20 million Baht
- Investing in technology-based companies in targeted industries
Rights & Benefits
- Maximum 4-year visa
- No work permit required for working in the endorsed company
- 90-day Immigration reporting extended to one-year
- No re-entry permit required
- Spouse and children granted permission to stay in Thailand
- Spouse granted permission to work without work permit requirement
SMART “E” – Executive
Eligibility
- Minimum of Bachelor degree and 10-years work experience in the field
- Minimum monthly salary of 200,000 Baht
- Employment contract from a S-Curve company with a minimum of one-year remaining
- High-level executive position held
- Working for a technology-based project within a targeted industry
Rights & Benefits
- 1-year visa issued and renewable for 2 years if requirements are met
- No work permit required for working in the endorsed company
- 90-day Immigration reporting extended to one-year
- No re-entry permit required
- Spouse and children granted permission to stay in Thailand
- Spouse granted permission to work without work permit requirement
SMART “S” – Startup
Eligibility
- Fixed deposit of 600,000 Baht with a maturity term of one-year and upwards
- Health insurance policy holder
- Participating in an endorsed incubation, accelerator or similar program, obtaining joint-venture status, or being endorsed by a relevant government industry
- Must setup a company in Thailand within 1 years with at least 25% ownership in, or being a board member of a company in the targeted industries
Rights & Benefits
- 1-year visa issued and renewable for 2 years if requirements are met
- No work permit required for working in the endorsed company
- 90-day Immigration reporting extended to one-year
- No re-entry permit required
- Spouse and children granted permission to stay in Thailand
- Spouse granted permission to work without work permit requirement
Thailand Smart Visa Application Process
Foreigners wanting to apply for the Thailand Smart Visa will first need to apply for a Qualification Endorsement. The SMART Visa Unit will check the application for qualification, and then submit to the relevant government agency for endorsement. The government agencies involved in the endorsement process include the following: BOI, NSTDA, NIA, DEPA, NRCT, TISTR, MOFA, Immigration and MOL. Note: The Qualification Endorsement process takes approximately 30 working days.
The Thailand Smart Visa aims to provide the following benefits:
Allows a 4-year visa instead of the current one-year.
Does not require a work permit.
Gives dependents (spouse and children) the right to live and work in Thailand equivalent to the Smart Visa holder.
Extends 90-day reporting to annual reporting.