Thailand new visa rules 2025: what changes for foreign entrepreneurs and startups under the BOI?

Thailand’s renewed Smart Visa rules for 2025

Eligibility requirements 

The eligibility for Smart Visa is restricted to foreign startup entrepreneurs who have completed the following requirements in accordance with BOI Announcement No. Por. 5/2568:

• The applicant must have already established a company within the territory of Thailand, which operates in a targeted industry as defined by the BOI under Announcement No. Por. 5/2566. This company must have received formal startup certification from a competent Thai authority, namely the National Innovation Agency (NIA), the Digital Economy Promotion Agency (DEPA), or any other agency designated under Thai law.
• The applicant must either hold a minimum of 25% of the registered capital of the company or serve as a director thereof. In addition, the applicant must demonstrate financial sufficiency by maintaining a personal bank account in Thailand or in their country of nationality or residence, reflecting a minimum balance of 600,000 Baht or its foreign currency equivalent. This balance must have been maintained for no less than three months preceding the date of application. Where dependents are included in the application, an additional 180,000 Baht per person must be held under the same terms.
• Valid health insurance coverage is mandatory for the entire period of residence in the Kingdom, and said coverage must extend to the principal applicant, lawful spouse, and legitimate children. The applicant and accompanying dependents must not fall within the categories of prohibited persons under the Immigration Act.

These requirements confirm a material departure from the earlier regime, where planned businesses were eligible. Under the current regime, only those with pre-existing, certified commercial activity within Thailand are legally eligible to apply.

Application and endorsement process 

The qualification endorsement process is governed by Announcement No. Por. 6/2568, which centralizes authority and imposes strict procedural deadlines on all competent government agencies involved.

Applicants should submit an application for endorsement of their qualifications at One Stop Service Center for Visa and Work Permit (OSS), Royal Thai Embassy or Royal Thai Consulate-General, or other agencies as specifically mandated by the Royal Thai Government. The receiving office shall forward the complete application file to the OSS once received.

Within three working days from the date of receipt, the OSS is legally required to forward the application to the following competent authorities:

• The NIA or DEPA for industry certification;
• The Ministry of Foreign Affairs for criminal background verification;
• The Immigration Bureau to check for any prohibited status;
• The Department of Employment to verify that the applicant’s professional activity does not fall under restricted occupations.

Each agency must return its findings to the OSS within 20 working days from the date of receipt. Upon receipt of all such responses, the OSS is required to issue a final determination within seven 7 additional working days.

If the applicant does not meet the legal requirements, the OSS shall issue a formal denial of qualification. If the criteria are met, the OSS shall issue a written qualification endorsement letter valid for 60 days. After that, the applicant will need to apply for the Smart Visa itself via the OSS, Royal Thai Embassy/Consulate, or Eastern Economic Corridor (EEC) Labour Administration Centre. The sum of all processing times shall not exceed 30 working days from the date of the receipt of the complete application.

Legal rights and obligations 

When granted, the Smart Visa allows the holder to stay temporarily in Thailand for a maximum period of 2 years, as prescribed by the immigration commissioning authority. The Smart Visa holder is exempted from the requirement to obtain a work permit under the Royal Decree on Work Management of Foreigners B.E. 2560 (2017), provided that the professional activity is within the scope previously certified and does not fall within any restricted professions under Thai labor law.

The holder may be accompanied by lawful dependents, including spouse and legitimate children. The spouse may engage in lawful employment in Thailand, provided that such employment does not exceed the scope of employment granted to the principal Smart Visa holder.

Smart Visa holders are under a continuing obligation to submit an annual status report to the Office of the Board of Investment, which shall include updated personal and professional information. Applications for renewal of residence must be submitted no less than 60 days prior to the expiry of the current visa.

Where the visa holder or any of it dependents intend to abandon the right to stay granted under this Smart Visa, they shall prepare a written statement to be filed with the OSS. The OSS will then initiate the notification of all appropriate U.S. offices of the revocation of status.

These legal obligations serve to ensure regulatory transparency, compliance with immigration and investment laws, and continuous evaluation of the economic contribution made by the visa holder.