Board of Investment Registration In Thailand
If your new business in Thailand is likely to provide substantial economic benefits to Thailand, you may be eligible to register your business as foreign owned with the Board of Investment (BOI). Subject to meeting the criteria of the Board, there are incentives and privileges attached to a company formed in this way. If you believe that your business might fall into this category, we will be happy to advise and guide you through the process.
Privileges offered by BOI to Promoted Projects
BOI offers both tax incentives and other substantial privileges to promoted projects.
The tax incentives include:
- Exemption of corporate income tax
- Exemption/reduction of tariff on imported machinery
- Exemption/reduction of tariff on imported raw material
The non-tax privileges include:
- You can own the freehold of land
- You can bring foreign expertise to work on your BOI projects
- Your BOI approved business can be 100% foreign-owned
- Your BOI approved company is exempted from work permit and visa rules
The BOI helps you, the investor, in three ways:
- The risk associated with your investment is reduced.
- Your initial investment costs are reduced
- The rate of return on investment is improved
The business categories eligible for BOI approval are:
- Agriculture and agricultural products
- Mining, ceramics and basic metals
- Light industry
- Metal products, machinery, and transport equipment
- Electronics industry and electrical appliances
- Chemicals, paper and plastics
- Services and public utilities
The above categories are further divided into specific activities within the categories. The Board of Investment Registration Thailand approval process is complicated and usually, takes several months. Contact us as soon as possible and let our legal team advise and guide you throughout the entire process to a successful conclusion.
