Everything you need to know about SMART Visa in Thailand
If you’re thinking about working, starting a business, or simply enjoying the perks of living in Thailand, the SMART Visa might be the golden ticket you’ve been searching for. Designed for skilled professionals, entrepreneurs, and investors, the SMART Visa makes it easier for foreigners to live and work in Thailand while contributing to the country’s growing economy.
The SMART Visa Type ‘S,’ in particular, is made for anyone who wants to start a business in Thailand. One of the simplest ways you can obtain it is through the one-year incubation program by True Digital Park.
Let’s talk about what a SMART Visa in Thailand is, why it’s worth considering, and how it can help you.
What is the SMART Visa in Thailand?
The SMART Visa is a special programme by the Thai government aimed at attracting foreign talent and investment. Introduced in 2018, it’s particularly useful for individuals in tech, innovation, and business development sectors. Unlike standard work visas, this visa eliminates the need for a separate work permit and offers longer residency durations.
In order to obtain a SMART Visa, your expertise or business must align with one of the targeted industries of the Thai Board of Investment (BOI), which includes sectors that Thailand is actively focusing on for economic development. These include:
- Next-Generation Automotive,
- Smart Electronics,
- Affluent,
- Medical and Wellness Tourism,
- Agriculture and Biotechnology,
- Food for the Future,
- Automation and Robotics,
- Aviation and Logistics,
- Biofuels and Biochemicals,
- Digital, and Medical Hub.
Eligibility varies depending on the type of SMART Visa you apply for, but generally, you must demonstrate expertise, investment, or entrepreneurial capabilities in one of these sectors.
What are the benefits of the SMART Visa in Thailand?
The SMART Visa can make your life in Thailand as smooth and as convenient as possible. Here’s why so many people are turning to this option:
- Stay longer without hassle: Forget about constantly renewing your visa. SMART Visa holders can stay in Thailand for up to four years, depending on the visa type.
- No separate work permit needed: One of the main benefits is that your SMART Visa also serves as a work permit. That means you’re free to work in Thailand without going through additional processes.
- Skip the 90-day reporting: Most visas require you to check in with immigration every 90 days. Not with the SMART Visa. You’re free from this tedious requirement.
- Unlimited travel: Need to leave and re-enter Thailand often? No problem. The SMART Visa offers multiple entries, so you can come and go as you please.
- Bring your family along: Your SMART Visa extends its perks to your loved ones. You can apply for a Smart O Visa for your spouse and children, letting them stay for as long as you do.
- Priority at immigration: Say goodbye to long queues at the airport. SMART Visa holders get fast-track privileges at immigration checkpoints. This makes travel much more convenient.
- Healthcare benefits: As a SMART Visa holder, you’re entitled to the same healthcare benefits as Thai citizens.
What are the different types of SMART Visa?
There are five types of SMART Visa available, each addressing a specific professional or entrepreneurial role. These include:
SMART Visa T (Talent)
This is designed for highly skilled professionals in targeted industries. The requirements include:
- Must have an employment contract of at least one year.
- Monthly salary must be at least 50,00 baht for Startup employees or retired expats and 100,000 baht for general cases.
- Relevant academic or professional qualifications are required.
- For talents in alternative dispute resolution or those who work for the government or higher education, there’s no minimum income or contract term.
SMART Visa I (Investor)
If you’re individuals or entities investing in businesses within targeted sectors, this might be for you. You need:
- Direct investment of at least 20 million baht in qualifying businesses; or
- Investment in startups of at least 5 million baht.
SMART Visa E (Executive)
This type of SMART Visa is aimed at senior management positions in eligible businesses. It requires:
- At least one year of employment contract and a minimum monthly salary of 200,000 baht.
SMART Visa S (Startup)
SMART Visa S is for entrepreneurs establishing startups in innovation-driven industries. To get this type of visa, you must:
- Provide proof of financial security of at least 600,000 baht.
- Participate in an endorsed incubation or accelerator programme.
SMART Visa O (Other)
This type of visa is for dependents of SMART Visa holders, including spouses and children.
Which SMART Visa type should you get?
This depends on you. If you’re an entrepreneur with innovative business ideas, a startup founder looking to expand into Southeast Asia, or a professional eager to break into Thailand’s thriving tech scene, then the SMART Visa ‘S’ might be the best option for you. And one way you can get this visa is by joining the Global Startup Program run by True Digital Park.
The Global Startup Program is a one-year incubation initiative that provides everything you need to kickstart your business in Thailand. From access to co-working spaces across multiple locations to one-on-one mentorship with industry experts, this programme offers plenty of resources.
How the Global Startup Program works
The Global Startup Program costs about $3,000 (around 100,000 baht). To be accepted, you need to have a solid business plan and show that you’ve saved at least 600,000 baht in your account for the last three months (as per the SMART Visa ‘S’ requirement). That might sound like a lot, but when you see what you’re getting, it’s a pretty sweet deal. Here’s what you’ll get once accepted:
- 1-Year SMART Visa ‘S’: Stay and work in Thailand legally while you build your business.
- Co-working space: Work at True Digital Park or one of their partner locations across Thailand.
- Mentorship: Get guidance from business experts and leading venture capitalists (VCs) every two months. These sessions could lead to funding or partnerships.
- Networking events: Connect with ecosystem partners to find collaborators and investors, so you’ll have plenty of opportunities to meet people who can help your business grow.
- Legal and business consultations: You can get expert advice to help you go through the Thai market and regulatory landscape.
Some of the innovative startups currently in residence at True Digital Park include LectureLink, Cube Asia, HelpDeliver, and Natify.
How to apply for the Global Startup Program and get your SMART Visa ‘S’
Getting started is as easy as filling out a form on their website. First, you’ll need to put together some documents, like proof of your savings, a business plan, and your CV or LinkedIn profile. Then, you submit everything online and wait to hear back.
If you’re approved, you’ll get your SMART Visa and access to all the resources True Digital Park has to offer.
So, are you serious about starting or growing your business in Thailand? If yes, then the SMART Visa ‘S’ combined with True Digital Park’s Global Startup Program is a no-brainer. It’s a rare opportunity to gain a foothold in one of Southeast Asia’s most dynamic markets with all the support you need to succeed.
For more information, visit True Digital Park’s website.
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