Thailand’s startup ecosystem has steadily grown into one of Southeast Asia’s most attractive destinations for entrepreneurs, ranking 4th in the region and 53rd globally in 2025. According to the StartupBlink Ecosystem Index, Thailand’s startup market was valued at roughly $4.9 billion USD in 2024 and is already home to several unicorns.
To capitalise on this growth, Thailand revamped its SMART Visa program for entrepreneurs, making it easier for foreign founders to establish certified startups in targeted industries. Unlike before, when it was split into three categories, including SMART-T, I, and E, now, the SMART-S (Startup) Visa is the main route for foreign entrepreneurs who have already established a certified startup in the country’s targeted industries.
The program also extends support to families. Spouses and legally recognized children of SMART-S holders can apply for the SMART-O Visa, which allows them to live in Thailand and, for spouses, work without a separate work permit.
What Is the SMART Visa (Founder Visa)?
The SMART Visa is a government-backed initiative designed to draw experienced foreign professionals, investors, senior executives, and startup founders into Thailand. It focuses on strengthening priority sectors such as technology, innovation, and advanced industries.
The program simplifies long-term entry and residence by reducing bureaucracy and offering perks like extended stay periods and exemption from traditional work permit requirements.
The visa is divided into several categories depending on the applicant’s role:
Types of SMART Visa
SMART S (Startup) Visa: This option is aimed at founders building startups within Thailand’s approved industries. Applicants are typically required to hold at least a 25% ownership stake or serve as a company director, maintain a minimum bank balance of 600,000 baht ($19,116) for a specified period, and have a valid health insurance.
SMART O (Other) Visa: This category covers spouses and dependents of primary SMART Visa holders, with modified financial thresholds and insurance requirements.
Who Qualifies for SMART S (Startup) Visa?
Eligibility generally depends on whether the applicant is investing in or employed by a company operating in Thailand’s target sectors. Applicants must demonstrate financial stability, appropriate qualifications or shareholding, and valid health insurance.
Background screening, medical checks, and submission of supporting documents to the Board of Investment’s SMART Visa Unit are also required before approval is granted.
Duration, Renewals, and Work Permit Rules
Following recent changes to avoid overlapping with the Long-Term Resident (LTR) Visa, the SMART S (Startup) Visa now only grants a stay of up to two years rather than four. The visa can be renewed as long as the holder continues to meet the eligibility criteria.
A separate work permit is not required under this visa. For renewal, applicants must maintain compliance with the program’s conditions and submit updated documentation to the SMART Visa Unit for review.
PR & Citizenship Pathways for SMART S Visa Holders
For founders looking to establish themselves in Thailand, the SMART S (Startup) Visa can be renewed for a total stay of up to four years, but it does not offer a direct route to permanent residency or Thai citizenship.
That said, it can still serve as a practical entry point for skilled founders who want to build long-term ties in Thailand and later transition to other residency or immigration options.
Basic Application Costs
If you’re considering the SMART S (Startup) Visa in Thailand, it helps to budget for several key expenses, including:
- Visa processing fee: 10,000 Thai baht ($319) for each year granted, payable in cash
- Bank deposit: A minimum of 600,000 baht ($19,116) held for a minimum of three months in a Thai or home-country bank account.
- Health insurance: Required for the full duration of your stay.
- Startup qualification: Your startup must be tech-focused, fall within an approved S-Curve industry, and provide clear value to Thailand.
- Optional service fees: Professional application or relocation support, starting from approximately $1,900 USD.
Family Inclusion
Spouses and legally recognised children of SMART S visa holders can apply for the SMART O visa, allowing families to live together in Thailand. For applicants bringing dependents, an additional bank deposit of 180,000 baht per ($5,727) dependent is required under the same holding conditions.
Dependents are granted the same length of stay as the primary visa holder, and lawful spouses are allowed to work in Thailand without a separate work permit, as long as their activities fall within the scope of the main applicant’s permitted work.
One thing to note, though, is that all dependents must meet the required health insurance and immigration compliance standards, and applications may be submitted either together with the main applicant or separately.
Complete List of Required Documents
To apply for the SMART S (Startup) Visa, you will need several key documents. These include:
- Business registration certificate
- Proof of ownership or company role (like a shareholder list)
- Financial proof or bank statements
- Health insurance policy
- Police clearances from your home country and Thailand (if living there)
- Business plan or pitch showing your startup’s work and potential
How To Apply
Step 1: Applicants must first submit a qualification endorsement request to the One Stop Service Centre for Visa and Work Permit (OSS) in Bangkok or through a Thai embassy or consulate.
Step 2: Once received, the OSS coordinates with the relevant government bodies to validate the startup or business credentials, carry out criminal and immigration background checks, and ensure the applicant meets Thai labour regulations. Most times, the endorsement review is completed within 30 working days, provided all required documents are submitted in full.
Step 3: After approval, applicants have 60 days from the date the endorsement letter is issued to formally apply for the SMART Visa.
Step 4: Visa issuance can be completed at the OSS, a Thai embassy or consulate, or the EEC Labour Administration Centre, depending on the applicant’s location. To remain eligible, SMART Visa holders are required to submit an annual status update to the Board of Investment (BOI).
David Adubiina
