Government supports “Smart Visa” scheme

BANGKOK, Aug 30 (TNA) --The government is supporting the introduction of “Smart Visa” next January to attract foreign investment in 10 industries. Kobsak Pootrakul, vice minister of the Prime Minister’s Office, said the cabinet approved the introduction of “Smart Visa” to encourage foreign specialists and startup entrepreneurs to invest in 10 targeted industries and transfer their technologies to people in Thailand. Smart Visa will be available for employees with high skills, high-level executives, technical experts, investors and startup operators. With the special visas, the people and their family members will be able to stay in Thailand for up to four years without having to seek a work permit. They will be required to report to authorities once a year instead of every 90 days. They will also enjoy tax and non-tax privileges including the possession of foreign currencies and tax reduction. The Finance Ministry, the Board of Investment and the Bank of Thailand would work out details for the privileges, Mr Kobsak said. (TNA)