Tag Archive: scheme

  1. Thailand 4.0 – BOI approves incentive scheme for “Smart City”

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    The Board of Investment Thailand (BOI) agreed to promote investment incentive schemes for “Smart City” to improve living standards. Smart City is an initiative for advanced IT systems and innovations; the incentives shall contribute to the promoted city’s development in six fields and enhance the people’s quality of life, especially in more remote areas. Smart City focuses on the improvement of:

    • Smart Mobility: efficient transportation and logistics management, car sharing, green mobility
    • Smart People: education for digital awareness, lifelong learning by providing village internet and digital learning centers
    • Smart Living: healthcare services, public safety, living comfort due to intelligent living facilities
    • Smart Economy: ease of doing business, business connectivity, innovation and transformation
    • Smart Governance: efficient public services, digitalization for more transparency
    • Smart Energy & Environment: green energy, clean and safe environment

    Thailand 4.0

    Investors who plan to develop Smart City infrastructure systems, especially with the focus on telecommunication infrastructure will benefit from the BOI incentives; provided that the project includes operations in one of the six aforementioned fields. Furthermore, IT system developers who support the Smart City project by creating, installing and providing solutions for one of the six fields will be promoted by these incentives. However, it is notable that the BOI grants a corporate income tax exemption of eight years for investors operating in the eligible fields plus a 50% reduction for another five years. By implementing its own solutions, Thailand strives for technological independence in the digital sector.

    Smart City is a step towards “Digital Thailand” and according to the Minister of Digital Economy and Society Dr. Pichet Durongkaveroj, “Digital Thailand” aims to reduce the disparity in the society and enhance the regional development. Therefore, digital education is seen as a key factor for Thailand’s technological development.

  2. Visa and Work Permit under the BOI Scheme

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    Since 15th June 2016, it is possible for foreigners to obtain a visa (extension of stay) and work permit in Thailand for a period of two years, under the Board of Investment (BOI) or the Industrial Estate Authorized Thailand (IEAT) schemes. In specific cases, a period of even four years may be granted.

    1. Two-year visas and work permits

    Foreigners employed by BOI or IEAT promoted companies may obtain two-year visa and work permits from the One Stop Service Centre, and would not need to deal with the Labour Department or Immigration Office. The process is quicker and can be completed in a single day, after the online registration process has been completed.

    The process of visa and work permit application is as follows:

    1. The company intending to bring in a foreign skilled worker contacts the BOI and IEAT office to issue an invitation letter. This application is carried out online and can take between 1 to 2 weeks.

    2. The invitation letter issued by the BOI or IEAT office should be delivered to the foreigner along with supporting company registration documents, for the foreigner to apply for a non-immigrant business visa (type B only) (90 days) at a Thai Embassy or Consulate abroad.

    3. The company should submit an online request to “open a position” for the foreigner to work under the company, where details of the foreigner’s position, job description, etc. will need to be provided. The consideration process for opening a position takes approximately one week.

    4. Once the position is opened and approved, the application for the foreigner’s work permit and visa extension can be submitted online. This process usually takes between 3-4 business days.

    5. The final step involves the foreigner physically going to collect the work permit booklet from the Employment Office and having his visa extended at the Immigration Bureau, both located at the One Stop Service Centre for Visas and Work Permits. The visa and work permit may be granted for periods of 1 year or 2 years depending on type of business.

    2. Four-year visas and work permits

    Moreover, the BOI announced that certain foreign workers employed by either International Head Quarters (IHQ) or International Trading Centers (ITC) may be granted visa extensions and work permits for up to 4 years (together with their dependents).

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