Thailand has made a number of measures to promote innovation as a means of boosting the economy. The Thai government has taken another step in attracting talent and technology in order to further grow its chosen industries, known as S-Curve industries. The SMART Visa in Thailand is a programme to boost Thailand’s appeal to science and technology specialists, senior executives, investors, and startups. On February 1, 2018, the programme officially began.
Smart Visa for Thailand is a new form of visa created to attract highly qualified labour, investors, executives, and startup entrepreneurs. It is for those who want to work or invest in the Kingdom of Thailand’s selected industries. Smart Visa holders will be permitted a maximum stay of four years, will be exempt from the need for a work visa and will be entitled to other benefits. The SMART Visa is available to international professionals, executives, entrepreneurs, and investors who seek to work or invest in the “13 S-Curve industries” or the country’s targeted industries in Thailand.
Application of SMART Visa in Thailand
SMART Visa candidates must meet the standards set forth by the Office of the Board of Investment. Relevant agencies will verify their qualifications. Following the receipt of technical and non-technical endorsements, the SMART Visa Unit will issue a letter of qualification endorsement, which the applicant will present to the Royal Thai Embassies or Royal Consulates (if residing abroad) or the Immigration Bureau at the One-Stop Center for Visas and Work Permits or the EEC Labour Administration Center in Chonburi in order to obtain a visa.
The steps of procedures preceding the SMART Visa Issuance in Thailand are as follows:
Step 1:
Visit https://smart-visa.boi.go.th to register for an online qualification endorsement application for SMART Visa. Henceforth, activate an online account via a confirmation e-mail.
Step 2:
Firstly, complete an application form for the type of SMART Visa you wish to apply for (T, I, E, S, and O if applicable). Secondly, make sure you have a PDF version of all required papers to upload. Finally, submit after the application form and required documents have been uploaded. You must read, understand, and accept the qualification endorsement requirements by completing the online application for certification.
Step 3:
OSS will notify the applicant, Immigration, the Ministry of Foreign Affairs, and other relevant agencies of the result of the qualification endorsement application within 30 working days of receiving complete documentation.
Step 4:
Within 60 days of the issuance date of the endorsement letter, which will be utilised as one of the supporting documents for the application, the qualifying candidate can apply for SMART Visa issuance at one of the following locations. The charge for processing is 10,000 Baht each year of visa authorization (cash only).
- The Royal Thai Embassies/The Royal Thai Consulate Generals (in case of residing overseas)
- The Immigration at One-Stop Service Center for Visa and Work Permit(OSS), Chamchuri Square Building, Bangkok
- EEC Labour Administration Center in Chonburi
Targeted Industries for SMART Visa in Thailand
Issuance of SMART Visa depends on the type of industry the immigrant or applicant wishes to work or invest in. The Royal Thai Government and Board of Investment promote the SMART Visa Program in Thailand. It is to focus upon and promote the following industries:
Next-Generation Automotive
Thailand’s automobile industry is a vital part of the country’s economic development, accounting for 5.8% of GDP. Moreover, this industry is heavily influenced and disrupted by cutting-edge technology breakthroughs. Therefore, the EEC places a high priority on the manufacturing of electric vehicles (EV) in order to support continued future growth.
Eventually, this goal will be achieved first by acting as an OEM in the battery and driving systems industries. Thereby, it expands the automobile industry’s value chain, with a special focus on surface integration design and prototype.
Further expansion plans include increasing the efficiency of catalytic manufacturing processes. Additionally, the focus is also on large-scale enhancements of electronic accessories and automotive parts production that meets global standards. Moreover, they include the production of safety components, transmission system parts, vehicle engines larger than 248 cc, and engine components.
Affluent, Medical and Wellness Tourism
Thailand’s tourism industry is one of the country’s most important economic drivers. Also, Thailand is the region’s largest medical tourism destination. Pre-existing programmes aiming to improve the quality of foreign tourists and Thai domestic tourists justifies this achievement.
Whatever the case may be, current global trends are likely to have a significant impact on the tourism industry. Therefore, for these reasons current policies aim to do the following:
- For middle-income to high-income tourists from the Asia-Pacific area, to enrich experiences and raise levels of tourism-related value propositions.
- Establishing order and promoting various activities in tourist areas. These are watersports or other appropriate activities, in order to increase tourism value for travellers.
- To provide assistance to wellness and rehabilitation travellers, with a particular focus on medical tourism development and growth.
- To promote Thailand as a major worldwide exposition and meeting destination.
Other industries of importance for SMART Visa in Thailand
- Agriculture and Bio-Technology
- Aviation and Logistics
- Biofuels or Biochemicals
- Digital Economy
- Medical Hub
- Smart Electronics
- Food for the Future
- Automation and Robotics
- Alternative Dispute Resolution
- Human Resource Development in Science and Technology
- Environmental Management and Renewable Energy
Your Take!
All these industries are having different scopes and benefits for professionals or businesses willing to involve in the same. Moreover, the provincial regulations and compliance for tax and non-tax benefits for applicants also differ. Henceforth, to make the maximum from this, applicants need to consult with reliable law professionals or firms like Konrad Legal. Therefore, feel free to mail us at [email protected] for guidance and assistance in the issuance of SMART Visa in Thailand.
