BOI Update: Target Industries for Highly Skilled Professionals

On March 16, 2023, the Board of Investment issued the Announcement No. Por. 5/2023 ‘Amendment of Qualifications, Criteria and Conditions for Smart Visa’, which amends Activity 1.1 of the earlier Announcement No. Por. 12/2561 dated December 18, 2017. The amended section defines “highly-skilled professionals” as follows:

1.1 Highly skilled professionals, investors, executives, and start-up business operators who wish to work, invest, or establish a business in the following target industries:

(1) Next-generation automotive industry

(2) Smart electronics industry

(3) Wellness tourism industry;

(4) Agriculture, food and biotechnology industry

(5) Automation and robotics industry

(6) Aviation and logistics industry

(7) Biofuel and biochemical industry

(8) Digital industry

(9) Medical hub industry

(10) Defense industry

(11) Direct and significant supporting industries for the circular economy (e.g., fuel production from wastes, water resource management, etc.)

(12) Aviation and aerospace industry

(13) Human Resource Development in Science and Technology

(14) Environmental Management and Renewable Energy

(15) Technology and innovation management and startup ecosystem

(16) Development for technology targeted

(17) International Business Center – IBC

(18) Alternative dispute resolution services

Advancements in Automation and Robotics to Improve Productivity

Decreased Tax Rates for Foreign Professionals

Overview of the International Business Centre Regime