Are you qualified to get the new 4 year SMART Visa in Thailand?
If setting up a new home in Thailand’s tropical setting has crossed your mind, the SMART Visa might already be on your radar. Introduced by the Board of Investment, this visa has been on the scene since 2018, providing lots of benefits for many expats and their families. One of the main benefits is reducing the need for the usual tiresome paperwork. In essence, it’s designed to make life in Thailand much simpler and incredibly convenient.
For global experts and investors, this SMART Visa is a big win. It allows you to stay in Thailand for four years. And guess what? You only need to check in once a year, bidding goodbye to the old 90-day reporting rule.
With the buzz surrounding this SMART Visa, you’re probably bubbling with questions. Who can apply for it? What are the steps involved in getting one? Don’t worry. We’re here to explain everything. We’ll answer all your questions and guide you through the entire process, making it as easy as, well, it should be.
What is the SMART Visa?
Thailand introduced a new visa type for foreign experts, executives, startup entrepreneurs, and investors on 1 February 2018, known as the SMART Visa. Recognising the potential of international talent to bolster Thailand’s targeted industries, the government introduced this specially designed visa. Furthermore, this initiative offers advantages that far outstrip those associated with regular Thai visas, assuming the eligibility criteria are met.
Created under the Thailand Board of Investment (BOI), the SMART Visa is designed to attract professionals with extensive expertise and investors who can inject funds into Thai companies. It’s worth noting, however, that the SMART Visa is not tailored for digital nomads or freelancers. Eligibility for this visa requires a level of commitment to the local economy, either through working in a Thai company or investing in one.
With the SMART Visa, Thailand is strategically positioning itself to attract a broader range of global talent and financial investment. This aligns with its overall goal of developing its priority industries, creating a mutually beneficial environment for both Thai companies and international workers or investors.
What are the targeted industries?
As mentioned above, the SMART Visa is designed to attract highly skilled experts, executives, startup entrepreneurs, and investors who want to work or invest in the targeted industries in Thailand. The industries are as follows:
- Next-Generation Automotive
- Affluent, Medical and Wellness Tourism
- Smart Electronics
- Agriculture and Biotechnology
- Automation and Robotics
- Food for the Future
- Aviation and Logistics
- Digital
- Medical Hub
- Biofuels and Biochemicals
- Alternative Dispute Resolution
- Environmental Management and Renewable Energy
- Human Resource Development in Science and Technology
What are the benefits of the SMART Visa?
The SMART Visa of Thailand, just as the name suggests, does bring a bundle of ‘smart’ benefits with it. Being eligible for this type of visa places you in a position to enjoy its rather appealing advantages, ones that clearly supersede those offered by regular Thai visas.
One of the highlighted benefits is the long-term validity of the visa. Unlike typical Thai visas that offer one to two years, the SMART Visa generously extends your stay in the country to a maximum of four years. Of course, this is contingent on your work or service contract’s duration.
The bureaucratic red tape is considerably simpler, too. There’s no longer a need to engage in the time-consuming process of applying for a Thai Work Permit if you’re associated with any of the eligible companies under this scheme.
Another key attraction of the SMART Visa is the convenient extension of reporting requirements at Immigration. Instead of the usual drill every 90 days, you just need to report your stay annually. Added to that, it liberates you from the need to apply for a Thai Re-Entry Permit.
The benefits also extend to your immediate family, with this visa allowing your spouse and children over 18 to work in Thailand sans a work permit. However, it’s important to note that this is under the proviso that the job isn’t on the list of occupations and professions that are off-limits to foreigners.
Travel perks also come into play with the SMART Visa, granting you access to the fast-track service at Thailand airports for international flights. All things considered, the SMART Visa offers a comprehensive package that facilitates a smoother and more flexible experience of living and working in Thailand.
What are the different types of SMART Visa, and how do you qualify?
There are five different types of SMART Visa. These include SMART T (Talent), SMART I (Investor), SMART E (Executive), SMART S (Startup Entrepreneur), and SMART O (Other). Each SMART Visa type has its own benefits and requirements.
SMART T (Talent) Visa
The SMART T Visa has been specifically designed for highly skilled professionals who have chosen to lend their expertise to Thailand. This visa offers a substantial period of validity, with a maximum duration of up to four years.
Obtaining the SMART T Visa, however, comes with its set of requirements. Inarguably, you need to have a firm hand in science and technology, with your skills contributing to one of Thailand’s targeted industries. Besides, a solid employment contract with a Thai company in one of these targeted industries is a must-have.
A crucial aspect of being eligible for the SMART T Visa also centres on income. For individuals associated with regular companies, a monthly pay salary of 100,000 THB is expected. Those working with startups or retired experts who have endorsements from a relevant agency, on the other hand, need a minimum salary of 50,000 THB per month.
The SMART T Visa is also available for those who are working for higher education institutions or a government organisation.
SMART I (Investor) Visa
The SMART I Visa is a four-year renewable visa for people who plan to invest in Thailand. If you’re thinking of placing your money in a tech company, you need to invest at least 20,000,000 THB to be eligible for this visa.
However, if your sights are set on a local startup, the investment figure is less. In this case, a minimum investment of 5,000,000 THB will qualify you for the SMART I Visa. Keep in mind, though, that the local startup you invest in must operate within the targeted industries identified by the SMART program.
SMART E (Executive) Visa
The SMART E Visa is designed for individuals looking to secure senior management roles in Thailand. This speciality visa, valid for four years and renewable, is meant for people like managing directors or chairpersons at technology-focused companies operating within the industries identified by the SMART program.
However, to be eligible for the SMART E Visa, there are several conditions to meet. First, a minimum monthly salary of 200,000 THB is required. Additionally, applicants should hold a Bachelor’s degree and possess a significant amount of experience in relevant fields, a minimum of ten years, to be exact.
SMART S (Startup) Visa
The SMART S Visa, tailored specifically for entrepreneurs and investors, highlights Thailand’s proactive approach to encouraging business startups. This visa is particularly geared toward those wanting to establish technology-based startups fitting within the ambit of the SMART program’s targeted industries.
The criteria for a SMART S Visa are quite straightforward. To start with, one must have a stake in a Thai company operating in one of the targeted industries. This means either holding at least 25% of the company shares or being in a director’s position.
Your financial standing is also considered. It’s a good idea to have at least 600,000 THB sitting in your Thai bank account for a minimum of three months. Additionally, having valid health insurance is a must.
This visa offers an initial period of up to two years but has the flexibility of being renewed.
SMART O (Other) Visa
The SMART O Visa plays a vital role in keeping families together, as it caters to legal partners and children of the main SMART Visa holder. If you are married to a SMART Visa holder and can present a marriage certificate, or if your children are under 20 years old, you might be eligible for this type of visa.
However, specific conditions may apply depending on the type of SMART Visa held by the primary visa holder. An example of this would be the dependents of SMART S Visa holders, where it is required for each person to have 180,000 THB in a Thai bank account and possess health insurance for the entire stay duration in Thailand.
Despite these specific stipulations, the SMART O Visa holders do enjoy a host of benefits similar to those granted to other SMART Visa categories. The visa itself is renewable, with the length of stay matching that of the main SMART Visa holder. It permits work in Thailand without the need for a separate work permit and requires check-in only once a year, in contrast to the typical 90-day reporting requirement.
Additionally, SMART O Visa holders can leave and return to Thailand without having to go through the process of applying for re-entry permits each time. They also enjoy access to the fast-track service at Thailand airports for international flights, making travelling a breeze.
What are the requirements to get a SMART Visa?
You can apply for the SMART Visa in Thailand or abroad. The crucial requirement is that you or your employer must be operating within one of the targeted industries defined by the SMART Visa program.
Moreover, to apply for a SMART Visa, you’ll need:
- The SMART Visa application form printed out and filled in as per the specifics of the visa category you’re applying for.
- A valid passport.
- A Health Certificate, issued within the past three months, stating you do not have a communicable disease. You’ll also need to have this document notarised.
- Evidence of a clean criminal record from both your home country and Thailand if you’re currently residing there. These documents must be notarised.
- Copies of any publications, research projects, intellectual property, and awards you may have. This doesn’t apply to the SMART Visa O.
- Copies of your academic qualifications, certificates, or endorsements relating to your area of expertise. This doesn’t apply if you’re applying for the SMART Visa O.
- Proof of previous employment, such as a letter from your past employer. This also doesn’t apply to the SMART Visa O.
- For the SMART Visa S and SMART Visa O: Proof of health insurance covering the entire duration of your stay in Thailand.
- If someone is submitting the application on your behalf, you’ll need a power of attorney document.
Additional requirements
Depending on the category of SMART Visa you’re applying for, you will also need to supply:
- SMART Visa T: Your employment or service contract and the company’s annual report.
- SMART Visa I: The company’s shareholder list and annual report.
- SMART Visa E: Your employment or service contract, corporate organisation chart, company’s shareholder list, and annual report.
- SMART Visa S: An overview of your business plan, the company’s shareholder list, annual report, proof of acceptance into the incubation or accelerator programme, proof of participation in startup promotion activities, proof of a minimum deposit of 600,000 THB held for at least 3 months, and additional 180,000 THB per dependent person.
- SMART Visa O: Passport copy of the primary SMART Visa holder, proof of family relationship, employment or service contract if you plan to work in Thailand, and proof of a deposit of at least 600,000 THB with an additional 180,000 THB per dependent if you’re accompanying a SMART Visa “S” holder.
- How much is the Visa?
The cost for processing a Thai SMART Visa application is set at 10,000 THB annually. It’s important to remember that this amount could vary based on the local currency in the country where you are applying. Make sure to bring enough cash with you when you visit the Thai immigration office to apply for your SMART Visa. This is because some offices may not accept credit and debit cards or wire transfers.
How can you apply for the SMART Visa?
To apply for the SMART Visa, you can begin the process from within Thailand or anywhere around the globe. Here’s a quick rundown of the steps:
Firstly, go to the SMART Visa website and create an account. With that done, you’ll need to complete an online application and upload any necessary documents. Once the application is submitted, it’s a waiting game as you await your visa approval.
Assuming your application is successful, those staying in Thailand can visit the One-Stop Service Center to receive a visa stamp, valid for 60 days. Should you apply from outside Thailand, you’ll need to go to a Thai embassy or consulate in your home country.
Typically, the visa approval process takes around 30 days. During this time, don’t be surprised if you hear from an officer from Thailand’s Board of Investment (BOI). They might contact you to verify certain details and possibly request additional documents.
As for receiving your SMART Visa, if you’re residing in Thailand at the time, head to the One-Stop Service Center for Visas and Work Permits. Here’s where you’ll swap your current visa to the SMART type and then extend your visa as necessary. If you’re outside Thailand, your nearest Thai embassy or consulate is where you’ll secure your SMART Visa.
Crucially, unlike other visas, the SMART Visa demands verification and endorsement of your qualifications by the relevant Thai agencies. To simplify the final stage of your SMART Visa application, keep physical copies of your required documents and the Qualification Endorsement Letter handy.
Can you extend the SMART Visa?
Yes, extending your SMART Visa is indeed possible and follows a similar route to the initial application process. Depending on the type of SMART Visa you hold, you’ll need to pencil in a re-application every one to four years.
Just be mindful of the timeframe, as this process should begin at least 60 days before your current visa’s expiration date. The extension involves a re-endorsement of your qualifications, followed by submitting the extension application to the Immigration Bureau at the One-Stop Service Center for Visa and Work Permit (OSS). Therefore, with the right planning and preparation, extending your stay in Thailand via the SMART Visa is perfectly achievable.
So, there you have it! All the information you need about getting a SMART Visa in Thailand. True, it may seem a bit complicated with all the paperwork and specific requirements. But keep this in mind: if you really want it, there’s always a way to make it happen. If Thailand calls your name, and you want to work or invest here, this visa may be your ticket to a life full of Thai adventures.
Are you a digital nomad who want to work from Thailand? Check out our article on the visa options available for digital nomads in Thailand.
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