Guide: SMART Visa for Professionals in Thailand

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Introduction:

Thailand’s economy has made developing key industries and attracting top global talent one of its top priorities. At the forefront of this initiative is the SMART Visa, a visa program designed to facilitate the entry and retention of highly skilled professionals, investors, executives, and entrepreneurs. 

This blog post will explore the SMART Visa, including its eligibility criteria, benefits, and the application process.

Key Points

• The SMART Visa program aims to attract foreign talent in targeted industries like automation, biotechnology, and digital technology to boost Thailand’s economy.
• There are five SMART Visa categories: Talent (T), Investor (I), Executive (E), Startup (S), and Other (O) for dependents, each with specific eligibility criteria.
• Benefits include extended visa duration up to 4 years, work permit exemption, reduced reporting requirements, and work rights for spouses and dependents.
• The application process involves online submission, document verification, qualification endorsement by relevant agencies, and visa issuance at Thai embassies or immigration offices.

What is the SMART Visa?

The SMART Visa is a specialised visa category introduced by the Thai government in 2018 to help attract highly skilled foreign talent with expertise in targeted industries. By offering a streamlined application process, extended visa durations, and a host of additional privileges, the SMART Visa has become a highly sought-after option for those seeking to work, invest, or establish businesses in Thailand.

Targeted Industries Eligible for a SMART Visa

The SMART Visa is designed to cater to individuals with expertise in the following targeted industries:

By focusing on these specific sectors, the Thai government aims to promote innovation and technological advancements.

Benefits of the SMART Visa

The SMART Visa offers a range of benefits that make it an attractive option for skilled professionals, investors, executives, and entrepreneurs seeking to establish a presence in Thailand. These advantages include:

Extended Visa Duration: SMART Visa holders can obtain a visa for up to 4 years, subject to the duration of their employment or service contract.

Exemption from Work Permit Requirement: SMART Visa holders are not required to apply for a separate work permit, streamlining the process of legally working in Thailand.

Reduced 90-Day Reporting: Instead of the standard 90-day reporting requirement for foreigners, SMART Visa holders only need to report their stay annually.

Waiver of Re-Entry Permit: SMART Visas are multiple entry and therefore holders are exempt from the need to apply for a re-entry permit when leaving and re-entering Thailand.

Spousal and Dependent Work Rights: The spouse and children of SMART Visa holders are allowed to work in Thailand without the need for a separate work permit, provided the job is not on the list of occupations and professions prohibited to foreigners.

These significant advantages make the SMART Visa a highly desirable option for individuals seeking to maximise their professional and personal opportunities in Thailand.

The Different Categories of SMART Visa

The SMART Visa program offers five distinct categories to accommodate the varying needs and backgrounds of applicants:

SMART Visa “T” (Talent)

The SMART Visa T in Thailand is designed for highly skilled professionals or experts in science and technology.

Qualifications and Criteria

1. Minimum monthly income of no less than 100,000 THB (or equivalent). For experts who an employment contract with a startup, or retired experts (who have received endorsements from a relevant agency), a minimum income of at least 50,000 Baht per month is required.
2. Having an employment or service contract with an entity in Thailand (with at least one year of validity remaining).
3. Be an expert in science and technology relevant to the targeted industries and endorsed by an agency within the Strategic Talent Center (STC)’s network.
4. The employers of the application in Thailand must be endorsed for being engaged in the targeted industries by relevant government agencies such as the National Innovation Agency (Public Organization) and Digital Economy Promotion Agency.

Privileges

1. Maximum renewable 4-year visa, but not exceeding the employment/service contract term.(Maximum renewable 2-year visa for experts working for startup)
2. No work permit required for working in the endorsed companies. In case of changes of jobs, additional endorsements in accordance with the relevant requirements must be obtained.
3. 1 year reporting instead of the 90-day reporting at the Immigration at the One Stop Service Center.
4. No re-entry permit required.
5. Spouse and children granted permission to stay in Thailand for the same duration as the Smart visa holder. The spouse granted permission to work with no work permit required.
6. Access to a fast-track service at international airports in Thailand (where available).

SMART Visa “I” (Investor)

The SMART Visa I in Thailand is designed for investors in targeted industries.

Qualifications and Criteria

1. Minimum investment of either of the following:
   • Directly investment in a technology-based business that operates within the targeted industries in Thailand. This investment must be made as an individual investor or through a venture capital company in Thailand for a total amount of at least 20 million Baht.
   • Directly investing as an individual investor for a total amount of at least 5 million Baht in a startup or an incubation or accelerator program endorsed by relevant agencies. Please note, the investor can invest in more than 1 business but must the investment must be maintained throughout the validity of their Smart Visa.
2. The business to be set up or invested in must have received certification as a technology-based company operating in manufacturing or delivering services in the targeted industries\.
3. If the investment is made through a venture capital company, the investment must be certified by relevant agencies as being either a venture capital company investing in the technology-based business in manufacturing or delivering services in the targeted industries.

Privileges

1. Maximum renewable 4-year visa.
2. No work permit required for working with an entity or government agency. In case of changes of jobs, additional endorsements in accordance with the relevant requirements must be obtained.
3. 1 year reporting instead of the 90-day reporting at the Immigration at the One Stop Service Center.
4. No re-entry permit required.
5. Spouse and children granted permission to stay in Thailand for the same duration as the Smart visa holder. The spouse granted permission to work with no work permit required.
6. Access to a fast-track service at international airports in Thailand (where available).

SMART Visa “E” (Executive)

The SMART Visa E in Thailand is designed for executives (C-suite level executives or those in similarly high positions) working in targeted industries.

Qualifications and Criteria

1. Minimum income of 200,000 Baht per month (or equivalent).
2. Having a Bachelor’s degree or above or equivalent with at least 10 years of work experience in the relevant fields.
3. Having an employment or service contract with a Thai entity with a validity of at least 1 year.
4. Hold a senior management position e.g. Chairman or Managing Director.
5. The employing companies must be certified as being technology-based in manufacturing or delivering services in the targeted industries.

Privileges

1. Maximum renewable 4-year visa, please note that the SMART visa ‘E’ cannot have a length longer that the applicants employment/service contract term.
2. No work permit required for working in the position or company certified by relevant agencies. In case of changes of jobs, additional endorsements in accordance with the relevant requirements will be required.
3. 1 year reporting instead of the 90-day reporting at the Immigration at the One Stop Service Center.
4. No re-entry permit required.
5. Spouse and children granted permission to stay in Thailand for the same duration as the Smart visa holder. The spouse can undertake to work with no work permit required.
6. Access to a fast-track service at international airports in Thailand (where available).

SMART Visa “S” (Startup)

The SMART Visa S in Thailand is designed for startup entrepreneurs. The startup must be based on innovation or technology in one of the targeted industries.

Qualifications and Criteria

1. Establish a startup company in Thailand within the targeted industries.
2. Hold no less than 25% of the company’s registered capital and/or hold a position of a director of the the company.
3. Have no less than 600,000 THB (or equivalent) in a bank account in Thailand or in the country of his/her nationality or residence. This amount must have been held in the account for at least 3 months.
4. For any spouses and children accompanying the holder, an additional amount of deposit of 180,000 Baht per person (or equivalent) is required in a bank account in Thailand or in the country of his/her nationality or residence. This amount must have been held in the account for at least 3 months.
5. Have a health insurance policy covering the entire period of stay in Thailand for the applicant (and any accompanying spouse and children).

Privileges

1. Maximum renewable 2-year visa.
2. No work permit required for working for the company under which the SMART visa was applied for. In case of changes of jobs, additional endorsements in accordance with the relevant requirements must be obtained.
3. 1 year reporting instead of the 90-day reporting at the Immigration at the One Stop Service Center.
4. No re-entry permit required.
5. Spouse and children granted permission to stay in Thailand for the same duration as the Smart visa holder. The spouse granted permission to work with no work permit required.
6. Access to a fast -track service at international airports in Thailand (where available).

SMART Visa “O” (Other)

The SMART Visa O in Thailand is designed for spouses and dependents of SMART Visa holders.

Qualifications and Criteria

1. Must be the legal dependants (spouse and children) of Smart visa holder Type ” T “, ” I “, ” E ” and ” S ” (except those who are granted only 6-month visa)
2. Children must be under 20 years old (Except children of Smart “T” holders who are over 20 years old can apply for Smart “O” under certain conditions).
3. Spouses and children must have an additional amount of deposit of no less than 180,000 Baht per person or equivalent is required in a bank account in Thailand or in the country of his/her nationality or residence, which has been held for at least 3 months. (Only for Smart “S” followers)
4. Having health insurance covering the entire period of stay in Thailand for the applicant as well as spouse and children. (Only for Smart “S” followers)

Privileges

1. The children of Smart “T” holders and spouses (all SMART visa types) are granted permission to stay and work with no work permit required for the same duration as the Smart visa holder. Children granted permission to stay for the same duration as the Smart visa holder.
2. No work permit required for working in the endorsed companies. In case of changes of jobs, additional endorsements in accordance with the relevant requirements must be obtained. (Only children of Smart “T” can work and must be at least 18 years old. The jobs must not be on the prohibited list of occupations and professions for foreigners)
3. 1 year reporting instead of the 90-day reporting at the Immigration at the One Stop Service Center.
4. No re-entry permit required.
5. Access to a fast-track service at international airports in Thailand (where available).

SMART Visa Application Process

Obtaining a SMART Visa involves a multi-step process that requires careful preparation and coordination. The application process is as follows:

Online Application: Applicants must create an account and submit the online SMART Visa application through the official SMART Visa website.

Document Submission: Applicants must attach electronic (PDF) copies of all the required documents for their respective SMART Visa category.

Qualification Endorsement: The relevant agencies in Thailand responsible for endorsing the applicant’s qualifications will check and verify the applicants documents to ensure they satisfy all requirements.

Visa Application: Applicants will be informed of the outcome of their application and if successful, they must then apply for the visa at either a Royal Thai Embassy or Consulate (if living abroad) or the Immigration at the OSS in Bangkok or the EEC Labour Administration Center in Chonburi (if living in Thailand).

The processing time for the SMART Visa application can be broken down as follows:

Initial online application: 3 working days

Endorsement of qualifications: 30 working days

Visa application at an overseas mission/OSS/EEC: 2-10 working days, depending on the specific office

It is important to note that the SMART Visa application fee is 10,000 Thai Baht per year, which may be subject to change based on the local currency of the country where the application is submitted.

Extending the SMART Visa

SMART Visa holders have the option to apply for an extension of their visa, which can be done at least 60 days before the current visa expires. The extension process involves re-applying for an endorsement of the applicant’s qualifications and then submitting the extension application at the Immigration Bureau at the One-Stop Service Center for Visa and Work Permit (OSS).

The cost of renewing the SMART Visa is 10,000 Thai Baht per year, which aligns with the initial application fee.

The SMART Visa as an Option for Investors and Entrepreneurs

The SMART Visa program offers several advantages for foreign businesses and investors:

Attracting Talent: Businesses can take advantage of the SMART Visa to recruit highly skilled professionals and executives in targeted industries. By simplifying the visa process for these specialists, businesses can fill key positions and boost their competitiveness.

Investor Streamlined Entry:  The SMART Visa offers a specific category for investors (SMART Visa type “I”). This category allows foreign investors who meet minimum investment thresholds (20 million baht) in qualifying businesses to gain easier entry and extended stays in Thailand. This can be especially useful for investors looking to establish or expand their presence in the Thai market. The SMART visa removes a long standing pain point of what visa is best for an investor.

Reduced Bureaucracy: The SMART Visa program streamlines the visa application process compared to traditional work visas. This reduces administrative burdens for both businesses and foreign personnel, allowing them to focus on their main business activities.

Work Permit Exemptions:  For qualifying individuals under the SMART Visa, work permit requirements are waived. This simplifies the employment process and removes a potential barrier for businesses seeking foreign talent. For Thai Limited Companies applying for and obtaining a Work Permit can be a challenge due to needing 4 Thai employees and 2 million THB per Foreign Employee. While BOI companies have a significantly reduced criteria for hiring foreign skilled workers, applying for a BOI promotion can be a time consuming and complicated process. Depending on the industry in which a company is applying for a BOI promotion, the SMART visa could be an option while awaiting their BOI promotion and applying for a visa and work permit through their company.

Long-Term Stability: The SMART Visa offers extended validity periods, with a maximum stay of four years. This provides foreign business personnel and investors with greater stability.

Overall, Thailand’s SMART Visa program serves as a valuable tool for foreign businesses and investors. It simplifies visa procedures, facilitates talent acquisition, and promotes a more business-friendly environment for international participation in Thailand’s economy.

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.