By mid-January 2018, the Government of Thailand will launch a “Smart Visa” scheme which grants 4 years permission to investors and highly skilled professionals working within 10 specialized fields.
The Smart Visa targets foreign entrepreneurs, high-level executives, new business start-ups or digital independents in 10 target industries, which include automotive, electronics, tourism, agriculture and biotechnology, food, robotics, aviation and logistics, biofuels and biochemical, digital, and medical sectors.
The Smart Visa is divided in four categories. The first category is for highly-skilled specialists who are on employment contracts for at least 1 year and are earning at least Bt200,000 a month. The second category is for investors in targeted industries with investment capital of no less than Bt20 million. The third group is for investors of companies which invest in targeted industries. The fourth, and last, group is for high-level executives who work in the targeted industries with 10 or more years of experience and earn a salary of over Bt200,000 a month.
According to the Prime Minister’s Delivery Unit of Thailand, some of the benefits the Smart Visa provides include:
(1) visa validity of 4 years, as compared to the current 1 year;
(2) no requirement of a work permit;
(3) An extension of reporting from the current 90 days to annual reporting; and
(4) Dependents of Smart Visa holder are allowed to live and work in Thailand.
