Now? Yes, it is. Look around and you will find so many examples.
Board of Investment Company Registration
One of the best ways of doing that is by registering a foreign company under the Board of Investment. However, to be able to do that your business must fall under the BOI business list that includes ceramics, mining, basic metals, light industry, metal products, electronic industry, paper and plastics and IT development and so on.
Once you know if your business is eligible for BOI registration, you can begin with the application. As soon as you apply, your project will be evaluated by the Board of Investment executives. Whether or not it is approved you will be notified. In case it is approved you will be issued a promotion certificate while making you equally eligible for incentive utilization and business start-up.
But for your information, this can be a little costlier.
Joint Venture Agreement
If you are a little tighter on the budget part, you can also consider a Joint Venture in Thailand. So what it is all about? This exists when more than two parties join forces with an aim to make profits and/or share losses. They are an understanding between the parties in a contractual format. Typically, there are two types of JVs;
- Incorporated Joint Venture;
- Un-incorporated Joint Venture;
The incorporated Joint Venture requires the incorporated parties to remain different entities with relaxation to submit tax. On the other hand the un-incorporated Joint Venture requires the un-incorporated parties to file for a tax number to submit tax.
Joint Ventures in Thailand are commonly found signed between Thai nationals and foreigners. And if the JV is intended to be a majority foreign shareholder, then its status needs to be changed and also must be registered under the FBA of Thailand.
