The legal experts of Sanet Legal Ltd. inform
Overview of the newly introduced Smart Visa
The new Smart Visa creates new investment opportunities for highly qualified individuals in the workforce and the investment world alike, as those active in the target branches stipulated by the development model Thailand 4.0 are now able to enjoy special visa privileges. Already in effect since February 2018, the government’s goal in creating such a visa is to secure more foreign investment as well as talent. The specific promotion of ten select clusters aims to improve Thailand’s value and competitiveness long-term on an international scale.
To be eligible for the Smart Visa, candidates must either be highly qualified experts active in scientific fields, or be active in investing, high-level management or start-ups positions. Scientific experts and executives must prove monthly earnings of at least 200,000 THB. Investors and Start-ups are required to invest in one of the pre-determined target industries, with the minimal investment amount for investors set at 20 million THB.
Those receiving the Smart Visa are permitted to stay in Thailand with their spouse and children for up to four years without having to apply for a work permit. Unlike other visa holders who are required to report to the authorities every 90 days, those with a Smart Visa must only drop by once a year and do not need a re-entry visa should they need to leave the country.
Further information on the Smart Visa and the development model Thailand 4.0, as well as information on related investment promotions for foreign companies can be obtained by contacting the legal experts of the Thai-German legal firm Sanet Legal Ltd. at email@example.com.