Board Of Investment (BOI)
The BOI was set up to promote investment in Thailand by providing privileges to local companies or foreign entities planning to incorporate in Thailand. It allows foreigners to run 100% foreign-owned businesses in Thailand. It Promotes investments in Thailand by providing information, services and incentives. It operates directly under the Prime Minister’s Office, with the Prime Minister as acting chairman. It does not officially grant business licenses for investors to operate a businesses in Thailand but rather industry-specific investment incentives like:
- Tax incentives, such as corporate income tax exemptions up to 8 years, and exemption or reduction on import duties of raw materials, machinery and equipment.
- Ability to operate a 100% foreign-owned company and no requirement to apply for a foreign business license.
- The right to purchase and possess land to be used for BOI projects.
- Assistance from the One-Stop Service Centre for work permit application for foreign employees as well as exemption from capital and Thai-to-Foreign staff ratio requirements.
- Investors can apply for Board of Investment promotion prior to registering a local entity in Thailand.
- Other incentives as stipulated in the BOI Announcements.
If the project falls under one of the promotion categories below, you qualify for investment promotion from the BOI.
- Controlling and advertising affiliated companies.
- All types of consulting services, except those engaged in:
- Buying and selling securities
- Foreign currency exchange
- Legal affairs
- Civil engineering
- Information services related to source and procurement, but not brokerages or agencies.
- Engineering and technical services, except those related to architecture and civil engineering.
- Testing and certifying standards of products, production, and services standards.
- Exporting of all types of products.
- Wholesaling of all types of products within the country, excluding local agriculture products, second-hand products, art & crafts, antiques, and natural resources.
- Wholesaling and/or retailing of machinery, engines, tools, and equipment.
- Provision of training on the use of machinery, engines, tools, and equipment.
- Installation, maintenance and repairing of machinery, engines, tools, and equipment.
- Calibration of machinery, engines, tools, and equipment.
- Computer program (software) design and development
Exceptions may be granted through permission extended by the Ministry of Commerce or concerned government agencies.
Sending applications to the Board of Investment is best done through a Thai law firm as it is quite a complex procedure. For more information, please click the button for a free consult or fill in the form below. More information can also be found at the BOI website.