Thailand has recently updated the list of industries covered by Smart Visa program. This visa is offered to attract highly skilled individuals, investors, executives, and start-up entrepreneurs who will work or invest in Thailand and will drive an economy of innovation.
1. SMART T (Talent) - Highly skilled professionals in the targeted industries, with the following conditions:
- A monthly income of at least Baht 100,000
- Experts hired by a start-up business for at least 1 year, or retired experts having endorsements from a relevant agency, the minimum income is Baht 50,000/month.
- Experts in science and technology relevant to the targeted industries and endorsed by an agency within the Strategic Talent Center (STC)’s network.
- Qualified employers, i.e., they must be endorsed by the relevant government agencies, such as the National Innovation Agency (Public Organization) and Digital Economy Promotion Agency.
- A work permit is not required for working in the endorsed company.
- The targeted industries have expanded from 13 to 18, with the following added industries:
a. National defense, aviation, and aerospace industry
b. Industries that facilitate the Circular Economy directly and significantly, e.g., fuel production from waste, water resources management, etc.
c. Startup ecosystem (Technology Innovation and Startup Ecosystem Management)
d. Targeted technology development
e. International Business Center (IBC)
2. SMART I (Investor) - Investors in technology-based businesses in the targeted industries, with the following conditions:
- Minimum direct investment of at least Baht 20 million Baht, or individual investor for a total amount of at least Baht 5 million.
- Certified as a technology-based business in manufacturing, or delivering services for setting up, or investing in the targeted industries by relevant government agencies.
- In the case of investment through a venture capital company, the investment must be certified by relevant agencies.
3. SMART E (Executive) - Senior executives in technology-based companies, with the following conditions:
- A monthly income of at least Baht 200,000
- With bachelor’s degree and 10 years of work experience in the relevant field, and an employment or service contract for at least 1 year.
- Holding a senior management position, such as Chairman or Managing Director.
- The employer is certified as a technology-based manufacturing business, or delivering services in the targeted industries by relevant government agencies, such as the National Innovation Agency (Public Organization), Digital Economy Promotion Agency, and National Science and Technology Development Agency.
- A work permit is not required for working in the approved position, or for working in the endorsed company.
4. SMART S (Startup) - Technology-based startup entrepreneurs in the targeted industries, with the following conditions:
- A startup company in Thailand has been set up and duly certified as one of the targeted industries.
- Holding at least 25% of the Company’s registered capital, or a director thereof.
- Having a deposit of no less than 600,000 Baht or equivalent 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.
- In the case of being accompanied by spouses and children, 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.
- Having health insurance coverage for the entire period of stay in Thailand, for both the applicant and his/her dependents.