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Thailand – Smart visa - 4 years permission

Thailand – Smart visa - 4 years permission

Tax & Legal News Flash | Issue 31

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Thailand – Smart visa - 4 years permission

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, identified by the government in its technology push under Thailand 4.0 plan such as automotive, electronics, food technology, digital technology, robotics, aviation and logistics.   

 

Initially the target groups are as the follows:

  1. Entrepreneurs investing in new businesses
  2. Highly-skilled professionals
  3. High- level executives
  4. Start-up business owners  

 

Benefits and privileges are:

  1. 4 year visa;
  2. No work permit is required;
  3. Dependents (spouse & children) will also be entitled to the same privilege in Smart Visa; and
  4. Every 90 days notification reporting extends annual reporting.

WHY THIS MATTERS

The main objective of the new visa scheme is to attract entrepreneurs and experts who have high technical skill and know-how and to encourage them to stay in Thailand longer to enable knowledge transfer that would boost business growth in the country and long-term economic benefits. This is a welcoming incentive in helping to reduce administrative burdens and cost for those qualifying for “Smart Visa”.

KPMG NOTE

Preliminary announcement was provided by the Thai Cabinet on 18 August 2017. The details of eligibility and application procedures will be forthcoming. 

FOOTNOTES:

© 2018 KPMG Phoomchai Tax Ltd., a Thailand limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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