Top 11 Privileges of BOI Thailand and More…

Astonishingly, there are many potential investors who still don’t know much about the facilities a BOI promoted company can get in Thailand. If you are one of them, then this article might help you derive a good deal of information. Board of Investment Thailand promotes foreigners to invest in certain economic zones and activities. The business categories range from agricultural and agricultural products, light industry, chemicals, paper and plastics, metal products, transport equipment and machinery to service and public utilities and electrical appliances. As for the privileges it offers scan through the below-mentioned domains;

A BOI registered company will fetch you both tax and non-tax incentives. The tax incentives include;

1. Under Section 28/29: Exemption or reduction of the import duties on machinery
2. Under Section 30: Reduction on the import duties for essential materials
3. Under Section 31 and 34: Exemption of corporate income tax on the dividends as well as the net profit derived from promoted activity
4. Under Section 35(1): 50% reduction of the corporate income tax
5. Under Section 35(2): Costs of electricity, water supply, and transportation will be reduced greatly, almost double reduction.
6. Under Section 35(3): 25% deduction on the price of installation and/or construction of the facilities.
7. Under Section 36: Exemption on the import duty on materials imported for production of export.The non-tax facilities include;
8. Under Section 24: Permission to enter Thailand to study investment opportunities
9. Under Section 25 and 26: Permission to bring skilled workers or experts to the kingdom for work
10. Under Section 27: Permission to own a land
11. Under Section 37: Permission to remit money in foreign currency

These privileges will help you in reducing the risk associated with investment while improving the rate of return on the same. Moreover, the initial investment cost will also be reduced. So, if your business is likely to add substantial economic advantages to Thailand, then you may be eligible to register your company under BOI Thailand. However, the registration process can be quite complicated and generally takes several months. This is why it becomes necessary to have a legal advisor by your side who will guide you through to the entire procedure.
Konrad Legal has a good rapport with the Thai Government that helps us to get all sorts of jobs done easily.