Thailand Board of Investment provides many incentives to qualified foreign and local investors as well as investment information and services. The basic requirement is that the investment should fall under the promoted activities of BOI and should facilitate the transfer of technology to the Kingdom and know how to locals.
Other criteria include the location of the promoted activities and whether these are priorities or not. Speak to attorney in Thailand for more information and assistance with starting a BOI company in Thailand.
For the tax privileges, activities under BOI can benefit from:
– corporate income tax exemption,
– tariff exemption or reduction on import machinery,
– tariff exemption or reduction on import raw material
For the non tax privileges, activities under BOI can benefit from:
– permission to own land,
– permission to bring foreign expert to work on the promoted projects,
– exemption on foreign ownership of companies,
– exemption from work permit and visa rules
The activities eligible to the BOI privileges are listed in 7 categories
– Agriculture and Agricultural Products,
– Mining, Ceramics and Basic Metals,
– Light Industry,
– Metal Products, Machinery and Transport Equipment,
– Electronic Industry and Electric Appliances,
– Chemicals, Paper and Plastics,
– Services and Public Utilities.
Each of these categories is divided in special activities.
A minimum level of investment capital (excluding cost of land and working capital) of one million baht shall be required for all types of activities eligible for promotion.
For more details about the eligible activities and the conditions (particularly whether you activity is considered as a priority activity or not), you can contact us or have a look on the Thailand Board of Investment website: www.boi.go.th
Our firm has a package to assist you with applying for a BOI privilege. This includes the following services:
- Thorough Consultation with the client
- Liaise with the relevant Thai Government Offices to seek guidance in setting up a BOI company that suits the objectives and location of the client’s business. These include the required documents, process, time frame and relevant government fees.
- Provide the client with a list of required documents and inform them about estimated time frames.
- Prepare the application papers and supporting documents and submit the application to the BOI office for its consideration.
- Review the clients’ project presentation in advance with the assistance of the BOI contact person if necessary prior to confirming their appointment with the BOI committee
- Accompany the client for the project presentations
- Follow-up with the BOI concerning the whereabouts of the application or should they require further documentation and information.
- Update the client concerning developments of the BOI application.
- Translation of BOI certificate into English