The business landscape in Thailand has changed exponentially in the past few decades. The Thai government has taken many initiatives in securing foreign investment. One such initiative is the Thailand Board of Investment (BOI). Misconceptions about the business realities in Thailand are commonplace. Do you know that your business can enjoy a host of incentives if you get a BOI Thailand Registration? Imagine having a business in Thailand that enjoys tax levies and other benefits.
Below we have enlisted a couple of facts regarding Board of Investment registration that you did not know:
What is the Board of Investment in Thailand?
Established in 1997, the BOI is a government body that aims to encourage foreign investment in Thailand. It provides equal opportunity to local and foreign businesses within the industry that BOI promotes. The Board of Investment has specific criteria for each project that is applying for privileges. These criteria are based on the location of your business and whether you are eligible or not.
A BOI registration brings these benefits to your business:
1. You can enjoy tax benefits such as exemption from income tax, tariffs, and also a significant reduction in import duties. Also, you are entitled o enjoy deductions from the costs pertaining to electricity, water supply, and transportation cost.
2. You can own land in Thailand and can also bring foreign experts and workers for working on specific projects. With a BOI certification, you also get exemptions from visa and work permit rules.
3. The BOI helps investors by reducing any associated investment risks.
4. It helps you to reduce your initial investment costs and ensures that you enjoy a high rate of return.
Board of Investment Registration: Process
Applying for BOI Thailand Registration is a complex process. You can always take the help of expert legal services in Thailand for avoiding any unnecessary complications. The requirements might differ with the nature of your investment. However, the general necessities are the same for all businesses. You have to furnish information regarding the company, its shareholders, finances, a breakdown of your investment, the nature of your project, a market plan, and an estimate of your costs and profits.
Are you looking forward to business opportunities in Thailand? Let us help you ease your process with our expert assistance. We can ensure that your BOI registration process runs smoothly and the future of your company is not jeopardized. For further information and consultation, please get in touch with us. Email us at [email protected] and our team will get back to you within one Thai working day.
