accountants and business advisers
01 Feb 2018
The conditions for the new SMART VISA in Thailand have just been announced on the 14th January and can be applied for from the 1st February. Some commentators have suggested that the “Smart” in Smart Visa applies to those who can understand how the qualifications actually work. This may also be why the BOI estimates only 1,000 people are expected to apply for them this year. Our smart team get to work on breaking it down for you.
There are 4 types of Smart Visas aimed at different target groups.
These target the following industries which have been listed by Thailand as “S-Curve” industries for Thailand 4.0.
S-Curve industries are named to show growth in the form of an “S”. These have a slower start (i.e. the entrepreneurs) and then a rapid growth (middle of the S) following by a tapering growth as they hit maturity. These are:
Certainly, the benefits if one gets a Smart Visa are good. These include:
The qualifications may be the hardest thing to understand. Presumably when you eventually make it to the end of the process you truly deserve a Smart Visa and quite possibly even a long holiday before you start using it.
- Being high skill talented expert certified by the Strategic Talent Center (STC)
- Having salary of not less than 200,000 Baht per month
- Having employment contract for the period of not less than 1 year
- The employer company must operate S-Curve businesses
- The company must be certified by the Digital Economy Promotion Agency (DEPA) or the National Innovation Agency (NIA)
- In case the employer is a government authority, such authority could certify itself that will operate S-Curve businesses
- Visa period according to the employment contract terms, but maximum 4 years
- Able to work in the permitted business without needing to have a work permit
- Change 90 days report to 1 year report
- No need to apply for a Re-entry Permit
- Spouse and child will have the same privileges as the expert.
- Invest in a company for not less than 20 million baht
- Invest in technology-based companies in the targeted industries
- The company must be certified by the Digital Economy Promotion Agency (DEPA) , the National Innovation Agency (NIA) or the National Science and Technology Development Agency (NSTDA)
- Must maintain 20 million baht all the time of holding smart visa
Same as SMART “T”
- Graduated with a Bachelor’s Degree and having experience of not less than 10 years
- Having a salary of not less than 200,000 baht per month
- Having an employment contract for the period of not less than 1 year
- Being a high-level executive
- Working for a technology-based project with a targeted industry
- The company must be certified by the Digital Economy Promotion Agency (DEPA), the National Innovation Agency (NIA), or National Science and Technology Development Agency (NSTDA)
- Having fixed deposit account of not less than 600,000 Baht and remain further for not less than 1 year
- Having health insurance during the period of stay in Thailand for both the expat and family members
- Participate in the Incubation or Accelerator project which is certified by the Digital Economy Promotion Agency (DEPA) or the National Innovation Agency (NIA)
- Must set up company in Thailand within 1 year and hold shares of not less than 25% or being a director
- The company must be certified that it is in the target industries
- First time visa period is 1 year
- Renewed visa will be valid for 2 years each time
- Other privileges same as SMART “T”
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