SMART Visa S (Startup)

Thailand's SMART Visa S (Startup) is a special residence visa for foreign entrepreneurs establishing technology-based startup companies in Thailand's targeted industries. It is administered by the Board of Investment (BOI) through the Thailand Investment and Expat Services Center (TIESC). The visa enables holders to work in their startup without a separate work permit and without the standard 4:1 Thai-to-foreign worker ratio requirement. Following the January 2025 reform, the SMART-S is the sole remaining SMART Visa category, with all other categories absorbed into the LTR Visa program.

The visa has three tiers: a 6-month visa for entrepreneurs planning to establish a startup, a 1-year visa for those in endorsed incubation or accelerator programs, and a 2-year renewable visa for those who have established a certified startup.

• Startup must operate in one of Thailand's 13+ targeted S-Curve industries (next-generation automotive, smart electronics, digital, medical hub, automation and robotics, circular economy, aviation/aerospace, and others)
• Bank deposit of at least THB 600,000 (or equivalent in foreign currency) in a Thai or overseas bank, held for 3+ months
• Health insurance with minimum THB 500,000 coverage for hospitalization and accidents
• 6-month tier: Plan to establish a startup or participate in startup promotional activities, with an endorsed plan from a relevant government agency; pitch deck required
• 1-year tier: Participating in an endorsed incubation, accelerator, or similar program certified by agencies such as NIA or DEPA, or have received joint venture funding with the public sector
• 2-year tier: Established startup company in Thailand certified as operating in a targeted industry by NIA, DEPA, or another relevant agency; must hold at least 25% of registered capital or serve as a director

• Valid passport with 2–3 blank pages
• Completed application form from the SMART Visa portal
• Bank statements showing THB 600,000+ held for 3+ months
• Health insurance policy with THB 500,000+ coverage
• Criminal record certificate (for applicants from specified nationalities)

Additional tier-specific documents:

• 6-month tier: Pitch deck covering team, business background, product/service model, Thailand business plan, revenue model, and funding sources
• 1-year tier: Incubator/accelerator acceptance letter endorsed by NIA or DEPA
• 2-year tier: Company registration documents, shareholder list showing 25%+ ownership or director registration, startup certification from NIA or DEPA

The 6-month tier may be extended once, after which the holder must progress to the 1-year or 2-year tier. The 1-year tier holder must establish a company in Thailand to progress to the 2-year tier. The 2-year tier is renewable unlimited times as long as qualifications are maintained. Visa fee is THB 10,000 per year of duration. Apply for renewal at least 60 days before expiry. An annual status report must be submitted to the SMART Visa Unit.

Legal spouses and children under 20 (or over 20 if enrolled as full-time students) may apply for SMART-O (dependant) visas with the same duration as the primary holder. Spouses are permitted to work in Thailand without a separate work permit. Each dependant requires an additional THB 180,000 bank deposit held for 3+ months and health insurance with THB 500,000+ coverage. If the primary holder's visa is cancelled, dependant visas are also terminated.

Standard Thai tax residency rules apply. Individuals present in Thailand for 180+ days in a calendar year are tax residents, subject to personal income tax on worldwide income remitted to Thailand. No special tax exemption applies to SMART Visa S holders. Companies registered in Thailand pay 20% corporate tax, though BOI-promoted companies may receive exemptions.

Register at the SMART Visa portal (smart-visa.boi.go.th) and submit the application with all documents in PDF format. The One Stop Service Center (OSS) forwards the application to competent authorities within 3 working days, who have 20 working days to respond. The OSS then has 7 additional working days for a final decision. Total processing is approximately 30 working days. If approved, the endorsement notification letter is valid for 60 days, during which the visa must be collected at TIESC Bangkok, Immigration Division 1, or a Royal Thai Embassy/Consulate abroad.

SMART Visa S holders may work in their certified startup without a separate work permit. The standard 4:1 Thai-to-foreign worker ratio does not apply. Work must not be in occupations prohibited to foreigners under Thai law.

Holders may travel freely in and out of Thailand without a re-entry permit. Address reporting is required annually instead of every 90 days. An annual status report verifying continued qualification must be submitted to the SMART Visa Unit via email.