Thailand SMART Visa

Introduction

The Thailand SMART Visa, is a specialized visa aimed at attracting highly-skilled foreign workers, investors, executives, and startup entrepreneurs to help develop the country’s targeted industries, known as the 13 S-Curve industries. This article serves as a complete guide to obtaining a Visa for Thailand, providing information on eligibility criteria, different types of Visas, benefits, application requirements, and the application process.

What is a SMART Visa?

A SMART visa is a special type of long-term visa offered by Thailand to attract highly skilled professionals, investors, entrepreneurs, and startups. 

Thailand has introduced this Visa program as part of ongoing efforts to promote innovation-driven economic growth. To help advance the S-Curve priority industries, this visa category aims to strengthen Thailand’s talent competitiveness and technology landscape. By facilitating immigration and work permissions for highly skilled professionals, the program enables foreign science & technology experts, executives, investors and entrepreneurs to conduct long-term business in Thailand. 

Who is Eligible for a Thailand SMART Visa?

To be eligible for a Thailand SMART Visa, individuals must fall into one of the following categories:

• Highly-skilled workers
• Investors
• Executives
• Startup entrepreneurs

These individuals should have an interest in working and/or investing in one of the targeted industries known as the 13 S-Curve industries. These industries include:

• Next-Generation Automotive
• Smart Electronics
• Affluent, Medical and Wellness Tourism
• Agriculture and Biotechnology
• Food for the Future
• Automation and Robotics
• Aviation and Logistics
• Biofuels and Biochemicals
• Digital
• Medical Hub
• Alternative Dispute Resolution
• Human Resource Development in Science and Technology
• Environmental Management and Renewable Energy

In addition to falling into one of these categories, applicants must also fulfill specific requirements for each type of Visa.

Types of Thailand SMART Visas

This Visa is categorized into the following types:

• S. Visa “T” – for foreign Talents
• S. Visa “I” – for foreign Investors
• S. Visa “E” – for foreign Executives
• S. Visa “S” – for foreign technology-based startup Entrepreneurs
• S. Visa “O” – for the family members (dependents, spouse, and children) of Visa holders

SMART Visa “T”

To qualify for a S. Visa “T,” applicants must meet the following requirements:

• Highly-skilled professionals in one of the targeted industries
• Skilled in science and technology related to one of the targeted industries
• Monthly income of at least 100,000 Thai Baht (50,000 Thai Baht for startups or retired experts with endorsements)
• Work/service contract with a validity of at least 1 year

SMART Visa “I”

To qualify for a SMART Visa “I,” applicants must meet the following requirements:

• Directly invest at least 20 million Thai Baht in a technology-based business in one of the targeted industries, individually or through a venture capital company.
• Invest at least 5 million Thai Baht in a startup or an incubation/accelerator program in Thailand endorsed by relevant agencies.
• The business must be technology-based in manufacturing or delivering services in one of the targeted industries.

SMART Visa “E“

To qualify for a SMART Visa “E,” applicants must meet the following requirements:

• Hold a senior management position (Chairman or Managing Director) in a technology-based company in one of the targeted industries.
• Monthly income of at least 200,000 Thai Baht.
• At least a Bachelor’s degree and 10 years of work experience in relevant fields.
• Work/service contract with a validity of at least 1 year.

SMART Visa “S”

To qualify for a SMART Visa “S,” applicants must meet the following requirements:

• Establish a startup company in Thailand in one of the targeted industries.
• Hold at least 25% of the company’s registered capital or be in a director position.
• Have a deposit of at least 600,000 Thai Baht or its equivalent in a bank account in Thailand or the country of residence, held for at least 3 months.
• Health insurance covering the duration of stay in Thailand.

SMART Visa “O”

To qualify for a Visa “O,” applicants must be the spouse and/or dependent legitimate child (biological or adopted) of the main SMART Visa holder.

What are the Benefits of the SMART Visa?

Obtaining a smart visa thailand comes with several benefits that set it apart from other types of visas. These benefits include:

• Visa duration of up to four years, aligned with the duration of the work or service contract.
• Exemption from the requirement of obtaining a Thai Work Permit.
• Reporting stay to Immigration only once a year, instead of every 90 days.
• No need to apply for a Thai Re-Entry Permit.
• Spouse and children over 18 can work in Thailand without a work permit, as long as the job is not on the list of occupations prohibited to foreigners.

Why is a SMART visa a good option for investors?

The SMART Visa is designed to make it easier for foreign investors and skilled individuals to live and work in Thailand. Here are some reasons why a SMART Visa might be a good option for investors:

Streamlined Application Process:

This Visa program offers a more straightforward and streamlined application process for qualified individuals. This can save time and reduce bureaucratic hurdles.

Longer Stay Duration:

The smart visa thailand allows for longer periods of stay compared to regular visas, providing greater flexibility for investors to manage and oversee their investments in Thailand.

Work Privileges:

Investors holding a smart visa thailand have the right to work in Thailand and are eligible for a digital work permit. This allows them to actively engage in their business activities.

Family Benefits:

This Visa often extends benefits to the family members of the visa holder, allowing them to join and live in Thailand. This can be an important consideration for investors with families.

Networking Opportunities:

The program often provides access to networking events, seminars, and other activities that facilitate interaction between investors, entrepreneurs, and professionals. This can be valuable for building business connections in Thailand.

Government Support:

The Thai government is actively promoting the program, reflecting its commitment to attracting foreign talent and investment. This support can provide a sense of security for investors.

Diverse Investment Options:

This Visa program is not limited to specific industries, allowing investors to explore a wide range of sectors. This flexibility enables them to invest in areas that align with their interests and expertise.

Global Talent Attraction:

By targeting high-skilled professionals and investors globally, Thailand aims to attract individuals with diverse expertise, contributing to the country’s economic growth and development.

What are the SMART Visa Application Requirements?

When applying for a Visa, applicants need to provide the following supporting documents:

• SMART Visa application form (specific to the type of visa)
• Passport
• Proof of a clean criminal record (certified by a Notary Public)
• Health Certificate (certified by a Notary Public)
• Copies of academic qualifications, certificates, or endorsements related to the area of expertise (except for SMART Visa “O”)
• Copies of publications, research projects, intellectual property, and awards (except for SMART Visa “O”)
• Proof of previous employment, such as a letter from the previous employer (except for SMART Visa “O”)
• Power of attorney (if someone else is submitting the application on behalf of the applicant)
• Proof of health insurance covering the duration of stay in Thailand (required for SMART Visa “S” and SMART Visa “O”)

Additional documents are required for each type of Visa:

Additional documents required for S. Visa “T”

• Employment or service contract with a minimum duration of one year, detailing the position and salary.
• Hiring company’s annual report.

Additional documents required for S. Visa “I”

• Company’s list of shareholders (not older than three months) or other documents showing ownership of shares and company value.
• Company’s annual report, brochures, catalogs, and the latest annual financial statement (if applicable).

Additional documents required for S. Visa “E”

• Employment or service contract with a minimum duration of one year, detailing the position and salary.
• Corporate organization chart.
• Company’s annual report, brochures, catalogs, and the latest annual financial statement (if applicable).
• Company’s list of shareholders (not older than three months).

Additional documents required for S. Visa “S”

• Overview of the business plan (Pitch Deck).
• Company’s list of shareholders and/or transfer slip (not older than three months).
• Company’s annual report, brochures, catalogs, and the latest annual financial statement (if applicable).
• Proof of acceptance into an incubation or accelerator program.
• Proof of participation in startup promotion activities.
• Proof of deposit of at least 600,000 Thai Baht (plus 180,000 Thai Baht per dependent person) held for at least 3 months.

Additional documents required for S. Visa “O”

• Passport copy of the main Visa holder.
• Proof of family relationship.
• Employment or service contract with a minimum duration of one year, detailing the position and salary (if working in Thailand).
• Proof of deposit of at least 600,000 Thai Baht (plus 180,000 Thai Baht per dependent person) held for at least 3 months (if accompanying a Smart Visa “S” holder).

What is the Process for Applying for a Thailand SMART Visa?

The application process for a Thailand SMART Visa differs from other visa types as it requires the verification and endorsement of qualifications by relevant agencies in Thailand. Here’s a step-by-step guide to the application process:

• Create an account and submit the online application through the SMART Visa website.
• Attach electronic (PDF) copies of all required SMART Visa documents.
• The relevant agencies in Thailand endorse the applicant’s qualifications and notify the One-Stop Service Center for Visa and Work Permit (OSS) of the decision.
• The OSS informs the applicant of the application outcome.
• The applicant takes the Qualification Endorsement Letter and physical copies of the required documents to apply for a visa at a Royal Thai Embassy or Consulate (for those living abroad) or at the Immigration Office at the One-Stop Service Center for Visa and Work Permit (OSS) in Bangkok or the EEC Labour Administration Center in Chonburi (for those living in Thailand).

Processing Time for a Thailand SMART Visa 

The processing time for a Thailand SMART Visa is as follows:

• Initial online applications: 3 working days
• Endorsement of qualifications: 30 working days
• Visa application at an overseas mission/OSS/EEC: Processing times vary depending on the specific office, ranging from 2-10 working days.

Visa Fees 

The processing fee for a Thai SMART Visa application is 10,000 Thai Baht per year. Please note that the exact fee amount may vary depending on the local currency of the country where the application is submitted.

How Long is a SMART Visa Valid?

A Thailand SMART Visa can be issued for a minimum duration of one year and a maximum of four years, depending on the duration of the work or service contract.

Extending a Thailand SMART Visa 

To extend a Visa, applicants should apply at least 60 days before the current visa expires. The applicant needs to re-apply for the endorsement of their qualifications and then submit the extension application at the Immigration Bureau at the One-Stop Service Center for Visa and Work Permit (OSS). The cost of renewing a SMART Visa is 10,000 Thai Baht per year.

Our Thoughts

The Thailand SMART Visa is a specialized visa designed to attract highly-skilled foreign workers, investors, executives, and startup entrepreneurs to support the country’s targeted industries. Eligible individuals can enjoy various benefits not available with other types of visas. To apply for this Visa, applicants must meet specific eligibility criteria and provide the necessary documentation. The application process involves verification and endorsement by relevant agencies in Thailand. Once approved, the Visa can be issued for a period of one to four years. It is also possible to extend the visa by re-applying for qualification endorsement and submitting the extension application.