SMART-I (Investor) — Investor
SMART-I (Investor) — นักลงทุน
Direct investors into S-curve companies with ≥ THB 20 M equity capital.
Quick Answer
SMART-I suits investors placing ≥ THB 20 M of primary equity into an S-curve company, granting 4-year residence and management rights without a Work Permit.
Timeline: 60–90 working days from wire date.
Who qualifies
Foreign investors making primary equity investments (new shares or capital increase — not secondary purchases) into Thai companies in one of the 13 S-curve industries.
- Minimum investment of THB 20 M in S-curve company shares (primary issuance).
- Investment must be maintained throughout the 4-year visa term.
- Target entity must hold a sector Endorsement.
Documents required
- Foreign Exchange Transaction Form evidencing inward remittance.
- Post-investment shareholder register (บอจ.5).
- Bank statement + share certificate receipt from the target entity.
- Company affidavit + sector Endorsement Letter.
- Business plan and target-company financials.
- Passport, police clearance, medical certificate.
Workflow
- Wire the investment into Thailand through a bank (FX-Doc).
- Register the capital increase / new share issuance at DBD.
- Obtain the S-curve sector Endorsement.
- File SMART-I on BOI Online with certified translations.
- Collect Endorsement Letter → visa at embassy or BOI One Stop.
Benefits
- 4-year renewable visa.
- No Work Permit needed to manage the invested company.
- Family receives SMART-O + work rights.
- Doubles as a stepping stone to Thai Elite Privilege / LTR Wealthy Global Citizen applications.
Only primary-issuance equity counts under BOI rules — secondary share purchases do not qualify.
FAQ
- Does listed SET/mai investment count?
- Only if the listed company is in an S-curve segment and the shares were acquired via primary issuance / IPO — not secondary trading.
- Minimum shareholding percentage?
- There is no percentage floor; the THB 20 M cash threshold governs.
- What if I divest early?
- BOI may revoke the visa if the investment is withdrawn before the 4-year term.
- Family?
- Spouse and children under 20 receive SMART-O with work rights.
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The information on this page follows the official sources below. Always check the latest version before you file.
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- Thai e-Visa Official Portal— MFA Thailand
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- กรมการจัดหางาน — ใบอนุญาตทำงานคนต่างด้าว— Department of Employment
- สำนักงานคณะกรรมการส่งเสริมการลงทุน (BOI) / LTR Visa— Thailand Board of Investment
- กรมการกงสุล — บริการรับรองเอกสาร (นิติกรณ์)— กระทรวงการต่างประเทศ
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Frequently asked questions
- What is the DTV and who realistically qualifies?
- The Destination Thailand Visa is a five-year multiple-entry visa allowing stays of up to 180 days per entry, extendable once per entry by a further 180 days at an immigration office. It targets remote workers employed or contracted outside Thailand, freelancers with foreign clients, and participants in Thai soft-power activities such as Muay Thai training, cooking courses or medical treatment, and it requires evidence of at least THB 500,000 in available funds.
- How is the LTR visa different from the DTV?
- The Long-Term Resident visa is a ten-year visa administered by the Board of Investment for wealthy global citizens, wealthy pensioners, work-from-Thailand professionals and highly skilled professionals, and it bundles a digital work permit, a flat 17% personal income tax rate for the skilled-professional category and annual instead of 90-day reporting. The DTV is cheaper and faster but grants no work permit for Thai-sourced work and no tax privileges.
- Can I work in Thailand on a tourist or DTV visa?
- No — any work performed inside Thailand requires a work permit or an equivalent digital work authorization, regardless of where the employer or client is located. The DTV is intended for work delivered to foreign employers and clients; taking on Thai clients or a Thai employer requires switching to a Non-B or LTR pathway with proper authorization.
- What most often causes a Schengen or UK visa refusal from Thailand?
- The dominant causes are weak evidence of ties to Thailand, bank statements that show a sudden unexplained deposit shortly before filing, inconsistencies between the application form and supporting documents, insufficient or non-compliant travel insurance, and an itinerary that does not match the stated purpose. Refusals are recorded, so a re-application must directly address the refusal ground rather than simply resubmit the same file.