Thailand's Board of Investment Promotion (BOI)

Last updated: 9 Aug 2023 | 946 Views |

Thailand's Board of Investment Promotion

or "BOI" is a government agency that focuses on promoting investment for both in Thailand and overseas for the main purpose of increasing ability to compete in the regional ASEAN community, as well as increasing number of foreign investors to invest in Thailand. Foreign investors shall benefit from getting BOI certificate, including the ability to operate a 100% foreign-owned business and land in Thailand. To become a BOI company, your business must invest the required amount of capital into one of the BOI’s promoted activities. If you do so, you will enjoy lots of benefits, many of them are related to taxes.

BOI eligible businesses and criteria

Agriculture and agricultural products (View PDF)
Mining, ceramics and basic metals (View PDF)
Light industry (View PDF)
Metal products, machinery and transport equipment (View PDF)
Electronic industry and electronic appliances (View PDF)
Chemicals, paper and plastics (View PDF)
Services and public utilities (View PDF)
Technology and innovation development (View PDF)

Tax related priviledges from BOI

Corporate Income Tax exception maximum for 13 years (depending on type of business and BOI conditions)
Income Tax reducing of 50% for 5 more years (only in investment promotion area)
Import Tax exception for machines
Import Tax exception for raw material for exporting goods
Import Tax exception for materials using for research and development

Non-tax related priviledges from BOI

100% own by foriegn shareholders
Holding ownership on land
Issuing business visa (Non-B visa) to foreign craftman / specialist
Issuing work permit for foreign craftman / specialist
Issuing dependent visa (Non-O visa) to the family of the above foreign craftman / specialist

Application Preparation Time

The application is approximately eight pages in length and requires financial projections, the estimated number of employees, basic information, and more. It must include a business plan and a project plan, so investors are encouraged to conduct a feasibility study beforehand. The application process generally takes two to four weeks to complete.

Application Consideration Time

15 - 40 working days for less than THB 200 million project
60 working days for THB 200 - 2,000 million project
90 working days for more than THB 2,000 million project

Compliance and requirements after certificate granted

The BOI company shall be required to maintain proper reports and compliance. In which, there are specific reporting and schedules as specified by the Board of Investment (BOI). If the company failed to submit the reposrts or any other requirements, the company shall be notified by the Board of Investment. And the company must respond to such notification with an explanation within the time given by BOI. If the company failed to response in time, the license may be revoked by BOI.

However, with our assistance, you can be assured that your company shall comply with all requirements.

Our initial consultation shall be for free of charge. So please do not hesitate to contact us to find out how we can provide you with the best solution that perfectly fits for your requirements.

Save your valuable time and allow us to assist you on the application.