The Board of Investment (BOI) was established pursuant to the Investment Promotion Act (B.E. 2520; 1977, as amended) for purposes of promoting certain foreign and domestic investment that are seen as welcome in Thailand.
The Board of Investment has set investment promotion policies as follows:
In addition to authorizing foreign majority ownership and control over Thai corporations, the BOI has discretionary authority to grant certain trade, taxation, employment, financial and other benefits.
BOI incentives are divided into two categories (tax incentives and non-tax incentives) and specified in the BOI certificate granted to successful applicants.
The BOI certificate is accompanied by a list of conditions. If the applicant fails to meet the conditions (and remain in compliance therewith) the BOI certificate is subject to revocation.
Non tax incentives are available at BOI’s discretion and include such investment privileges as majority foreign ownership, land ownership and expedited visas and work permits for foreign executives and technicians (and their families).
BOI’s basic package of tax incentives includes the following (subject to modification by the BOI on a case-by-case basis):
BOI tax incentives vary in accordance with the specific product or service under the promoted project, and the geographic location of the promoted project.
BOI bases its determination on promotion privileges upon the following factors:
Under the current policy, the BOI distinguishes between so-called activity based and merit based incentives.
After submission of the complete application, the process of approval will require 40 days. Upon such approval, the business may start to operate. However, in the following there will be an additional process required for obtaining the BOI certificate.
The BOI officers in charge usually speak English well and they make themselves available to clarify any questions regarding the application requirements.
Please feel free to contact us if you have any inquiries: [email protected]