Four year smart visas for top earning expats to launch next month

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buksida
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Four year smart visas for top earning expats to launch next month

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Expert expats with high salaries can apply for four-year professional visas starting in mid-January.

That’s when a long-awaited program offering visas that can be extended by four years at a time will be made available to foreigners earning 200,000 baht per month and up.

“More than any other type of visa, the Smart Visa will give the most benefits and privileges,” said Lt. Col. Thanarak Boonyaratkarin of the Immigration Bureau Police. “You will be able to stay for a long time and bring your family over.”

Starting in January, foreigners who meet the Smart Visa’s requirements can apply for them at Thai Embassies in their respective countries or the One-Stop Service Center for Visas and Work Permits at Chamchuri Square in Bangkok.

To be eligible for the Smart Visa, a foreigner must earn more than 200,000 baht a month in specialized industries such as tech, robotics, health care and more. The goal, Thanarak said, is to attract entrepreneurs and experts with technical know-how to stay in Thailand longer.

Instead of checking in with immigration every 90 days, Smart Visa holders only need to check in annually. They also are not required to obtain a work permit, according to a government website.

Smart Visa holders can be investors or entrepreneurs in said specialized industries to qualify for visas of two to four years, depending on their field.

Investors must have their investments approved by the Thailand Board of Investment.

The specialized fields are 10 fields identified by the government in its technology push under the so-called Thailand 4.0 initiative. Five are existing industries: automotives, electronics, medical tourism, agritech and food technology.

Looking toward the future, the other five industries are robotics, aviation and logistics, biochem, digital technology and medical services, equipment and pharmaceuticals.

The Smart Visa plan was first proposed in March 2016 by an umbrella federation of trade groups to attract investment and foreign talent.

Instead of one-year extensions, Smart Visa holders will be eligible for four-year periods. Spouses and children of the visa holder also automatically get four-year extensions. There is no age restriction for the Smart Visa.

There are plans to allow online application for the visa later in 2018, according to a report in state media citing government spokesman Sansern Keawkamnerd.

But nothing’s set in stone, Thanarak said, because they would need to find a way for applicants to submit proof of eligibility.

Source: http://www.khaosodenglish.com/news/busi ... ext-month/
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buksida
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Re: Four year smart visas for top earning expats to launch next month

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4-YEAR ‘SMART VISAS’ AVAILABLE STARTING FEB. 1
Starting Feb. 1, eligible foreigners in Thailand can apply for new, four-year visas, officials said Wednesday.

The long-awaited Smart Visa program, which will allow high-earning expats to maintain professional visas without needing to report to immigration every 90 days, received formal approval from the interim cabinet Tuesday. It’s intended to increase knowledge transfer and skill development in desirable fields such as technology and medicine.

“Smart Visas will be an important factor in pushing the country toward Thailand 4.0,”

Duangjai Asawachintachit, secretary-general of the Board of Investment, said Wednesday.

Foreigners who meet the visa’s requirements can apply for them at Thai embassies in their respective countries or the One-Stop Service Center for Visas and Work Permits at Chamchuri Square in Bangkok.

Smart Visa holders must earn over 200,000 baht a month in specialized fields including automotives, electronics, medical tourism, agritech, food technology, robotics, aviation, biochem, digital technology and medical services.

They only need to check in annually rather than every 90 days and Smart Visas can be extended for four years rather than a single year at a time.

An aide who answered the phone for Deputy Commander Maj. Gen. Itthipol Ithisaranachai of the Immigration Police said Wednesday that eligible foreign residents could file their applications at the start of next month.

http://www.khaosodenglish.com/featured/ ... ing-feb-1/
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Re: Four year smart visas for top earning expats to launch next month

Post by fft100 »

ha ha.

Presumably, these high earners will be liable to Thai tax if they stay here more than 6 month of the year, and this is an easy way to find them as they will tell the authorities how much they earn and where they live. That would be 'Smart' !
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Re: Four year smart visas for top earning expats to launch next month

Post by laser »

Clearly, the Smart visas are targeting a very small group, and worth to go for. Only that have an effective deal breaker for small private companies, just like the O-X visa for retirees.

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Re: Four year smart visas for top earning expats to launch next month

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Smart visa conditions revised for experts

The Board of Investment (BoI) is ready to announce new conditions and incentives for the smart visa for overseas experts in an attempt to transfer technology and know-how to the country's industrial sector and encourage foreign startups to move to Thailand.

The government introduced the smart visa programme in February, designed to encourage highly skilled professionals and talent to work and invest in targeted industries in the EEC.

Duangjai Asawachintachit, the BoI secretary-general, said the cabinet acknowledged and approved the revision of the smart visa last Tuesday.

The visa added three new categories, with the first for targeted industries, such as alternative dispute resolution, human resource development for science and technology, and renewable energy and environmental management.

The second category is to increase privileges and benefits for smart visa holders, with the cabinet ordering the Immigration Bureau to open a fast-track service for foreigners holding these visas at all international airports.

The third category is to decrease minimum monthly income to 100,000 baht for general experts and 50,000 baht for experts in local startups, while the monthly income from high professionals and executives stands at a minimum of 200,000 baht, though the BoI has changed this to include all income and bonuses.


https://www.bangkokpost.com/business/ne ... or-experts
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Re: Four year smart visas for top earning expats to launch next month

Post by laser »

The rules look relatively attractive (or better put, don't look repelling), if compared with their pesky siblings.

A good step but not a strong selling point on it's own. To attract investment and candidates, clear & reasonable visa rules/procedures are an expected minimum, all over the world.
This is only one of the many boxes to tick, as shown by the numbers. "As of September, there were 1,078 inquiries about the smart visa, but only 37 people applied for one. The government approved 28 smart visas for digital and automation/robotics".

An updated table, based on recent news:
visa_comp2.jpg
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Re: Four year smart visas for top earning expats to launch next month

Post by stretch »

Money talks as the saying goes.
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