On February 1, 2018, Thailand launched smart visa process to develop trade opportunities in selective sectors. The sectors that are focused upon are Aviation and logistics; biofuels and biochemical; robotics; digital development; next-generation automotive; medical industries; smart electronics; affluent, medical and wellness tourism; agriculture and biotechnology, and food for the future.
The government of Prime Minister Prayut Chan-o-cha has planned to expand even further, launching the SMART Visa to make working in Thailand easy. The smart Visa is structured to motivate highly skilled professionals to work or invest in the Kingdom. SMART Visa gives more benefits and privileges than any other type of visa issued by Thailand. SMART Visas relieve red tape and decreasing inconvenience because they are valid for as long as four years in contrast with the usual one year.
The visa eliminates the need for a work permit, is also extended to spouses and children of those who qualify. SMART Visas are available for investors, executives, talented individuals and those involved in start-up incubators and accelerators. At the moment, SMART Visa holders must be working in one of the 10 industries selected by the Thai government as essential to advancing the Kingdom’s economy and level of development. Expanding the new visas to other industries, however, is under consideration.
The 10 targeted industries such as Aviation and logistics; biofuels and biochemical; robotics; digital development; next-generation automotive; medical industries; smart electronics; affluent, medical and wellness tourism; agriculture and biotechnology, and food for the future. It is a part of Thailand 4.0 strategy.
Thailand may be soon with its progress become the center of investment in the Asia-Pacific region. The brief information on the scope for business in Thailand at the current scenario can be found at Healthcare It Market, a report published by Coherent Market Insights.