Why Should You Register with Thai BOI?
100% foreign-owned company being one of the main reasons why foreign investors choose to register with BOI, the other reasons have also contribute greatly to the decision-making. Significantly, companies that are BOI approved aren’t subjected to any foreign equity restriction, especially in the manufacturing industry. Moreover, tax privileges like CIT exemption, tariff exemption and reduction on import machinery and raw materials can be enjoyed by a BOI registered company. Additionally, they are given some non-tax benefits, including permission to own a property, exemption from work permit and visa rules. In fact, they are also allowed to bring their skilled employees to Thailand.
The Board of Investment under the recently launched special measures expects an increase in the value of the projects. About 1,600 projects gained tax privileges in 2016 in various industries like digital economy, international headquarters, international trading schemes, research and development, medical equipment manufacturing and software. With this, the BOI stated that service sectors such as tourism, education and medical will be hugely promoted. Those who have been thinking of investing in any of these sectors can expect to be highly privileged.
You will be stunned to know how fast foreign investment is growing in Thailand. In the recent past, almost 45 projects were undertaken by the Thailand BOI that valued $791 million. One of the BOI officials was found extremely confident when he exclaimed that this number can be dramatically increased over the coming years. As a matter of fact, the BOI has signed a paper with Hong Kong for the intention of cooperation in order to enhance investment in every economy.
Also, they have implemented new investment policy that is expected to offer a revised set of incentives to support the goal. They are modernizing their industrial base while promoting sectors with clean technologies, efficiency, creativity, and innovation, contributing to a way more mature economy. One of the officials says, “While promoting foreign investments we are seeking companies, which can assist Thailand to capitalize the best on its ample natural resources. Let’s say, the country produces almost 4 million tons of rubber, but only a small fraction of it goes for domestic production of the rubber items. We are therefore looking for producers of these products, like automotive tires.”
If you are interested in BOI registration we can help. Our legal experts will assist you throughout, filling the application, registering the name to company registration.
