🧐 Startup visa
✨ Extendable
Thailand SMART Visa S (Startup) - 2 Years
Updated:
Duration
730 days
Required income
Flexible
Program cost
$ 250
Processing
20–45 days
The SMART S Visa is strictly tied to active management of an approved innovative startup. Any change in business activity, company closure, or shift to non-executive role requires immediate notification and may invalidate the visa. You must comply with all Thai company law, immigration reporting (every 90 days), and BOI conditions. Working for any other employer without permission is prohibited. Medical insurance must remain valid throughout your stay.
Thailand is an ideal launchpad for startups thanks to its rapidly growing digital economy, vibrant startup ecosystem in Bangkok centered around Techsauce, True Digital Park, and SCB X, and strong government backing from BOI and DEPA. The SMART Visa S category offers entrepreneurs a dedicated 2-year renewable visa with work authorization, focusing on innovation in fintech, agritech, healthtech, and digital services. Entrepreneurs enjoy access to regional investors, numerous accelerators like Startupbootcamp SEA and AIS The Startup, co-working hubs, and attractive BOI tax incentives including multi-year corporate tax holidays.
Official program link:
https://smartvisa.boi.go.th/
✔ List of required documents to obtain Startup visa
- Completed application form of qualification endorsement for smart visa “S”
- Copy of valid passport
- Medical certificate issued from the country of which the applicant is a national or a permanent resident or where the application is submitted, showing no prohibited diseases ( Leprosy, Tuberculosis, drug addiction, Elephantiasis, third phase of Syphilis) as indicated in the Ministerial Regulation No. 14 B.E. 2535 (not more than 3 months old)
- Health insurance policy covering entire course of stay in Thailand * Submission of this document can be done separately at a later date before a notification letter is issued
- Shareholder list (not more than 3 months old)
- Company’s annual report, brochures and catalogues. (if any)
- Evidence of the incubation or accelerator program acceptance evidence
- Financial evidence showing a deposit of no less than 600,000 Baht or equivalent in a bank account which has been held for at least 3 months. * In the case of being accompanied by spouses and children, an additional amount of fixed saving of at least 180,000 Baht per person or equivalence is required
- Power of attorney if the application is submitted by a representative
- A letter of verification issued from the country of his or her nationality or residence stating that the applicant has no criminal record, certificate of incorporation, memorandum of association in Thailand, may be requested on a case-by-case basis.
📋 How to apply
-
Develop Business Plan & Secure Endorsement
Create a comprehensive business plan focused on innovation in targeted sectors and obtain an official endorsement letter from a government-approved accelerator, incubator, or directly from DEPA/BOI. -
Gather Required Documents
Collect all necessary documents including passport, photos, insurance, and background check. Ensure all materials are in English or accompanied by certified translations. -
Submit Application
Submit the application package online via the SMART Visa portal or at a Royal Thai Embassy/Consulate. Pay the applicable fees. -
Visa Approval & Entry
Upon approval (typically within 20-45 days), receive the SMART S visa stamp. Travel to Thailand and apply for a one-year work permit at the Department of Employment within 30 days of arrival. -
Post-Arrival Compliance
Register your company with the Department of Business Development if not already done, notify immigration of your address, and fulfill 90-day reporting requirements.
✅ Approval tips
- Focus your business plan on sectors prioritized by Thailand 4.0 (digital, biotech, green technology, food innovation).
- Partner with an established Thai accelerator to obtain the crucial endorsement letter — this dramatically increases approval rates.
- Demonstrate clear job creation potential for Thai nationals and technology/knowledge transfer.
- Prepare financial projections showing realistic path to revenue within 18-24 months.
- Include letters of intent from potential Thai customers or partners if possible.
- Ensure your personal qualifications (education/experience) align with the startup's technical needs.
❌ Common rejection reasons
- Business plan lacks sufficient innovation or clear value proposition for the Thai market
- Absence of official endorsement from an approved incubator or government agency
- Incomplete documentation or failure to provide certified translations
- Insufficient proof of funds or unrealistic financial projections
- Previous overstay or immigration violations in Thailand
- Proposed business falls outside targeted innovation sectors
💸 Tax information
Effective tax rate: 0–20%
BOI-promoted startups under the SMART program can receive 0% corporate income tax for 3-8 years depending on innovation level and sector. Personal income tax for residents (183+ days) is progressive 0-35% with significant deductions; non-residents taxed only on Thailand-sourced income. No specific capital gains tax on share sales for qualifying individuals.
❓ FAQ
There is no fixed statutory minimum, but applicants are strongly recommended to show at least THB 1.5–2 million in committed capital or funding. Higher amounts and verifiable investor commitments significantly improve approval chances.
Yes, it is extendable for additional 2-year periods if the startup remains operational, achieves agreed milestones, maintains valid work permit, and the founder continues to play an active executive role. Annual compliance reports are required.
BOI-promoted companies can receive corporate income tax exemptions of 3–8 years, import duty exemptions on machinery and raw materials, and other non-tax incentives. Personal taxation depends on residency status; professional tax advice is recommended.
While not strictly mandatory, securing endorsement from an officially approved accelerator or incubator is the most common and reliable route. Having a recognized mentor greatly strengthens the application.
Yes. The program facilitates bringing skilled foreign talent through other SMART Visa categories (Talent, Executive). Standard work permit rules apply, but the ecosystem is very supportive of international teams.
The visa is tied to active participation in the approved startup. If the company ceases operations or you no longer hold an executive role, you are expected to leave Thailand or change to another visa category. Early notification to authorities is advised.
Yes, spouses and children under 20 can apply for SMART O (dependent) visas. Spouses may also apply for work permits under certain conditions.