This is part 2 of 3 posts on Thailand BOI Cluster Policy. Read Thailand BOI Cluster Policy – part 2 of 3 here.
In this part, we talk about Thailand BOI’s Investment Incentives for Cluster-based Special Economic Development Zones and the criteria for the approval of incentives.
The Board of Investment grants the following incentives for Super Cluster
- 8-year corporate income tax exemption and an additional 5-year 50% tax reduction
- Import duty exemption on machinery
- Consideration of granting Permanent Residence to the leading specialist
- Permission for foreigners to own land to implement the promoted activities
For Other Clusters, the following incentives are granted
- 3 – 8 year corporate income tax exemption and an additional 5-year 50% reduction
- Import duty exemption on machinery
- Consideration of granting Permanent Residence to the leading specialist
- Permission for foreigners to own land to implement the promoted activities
Approval Criteria for Thailand BOI Cluster Incentive Package
- The activity must be one classified under eligible BOI categories
- The business must be located in the designated provinces for each relevant cluster
- The business must have a cooperation with academic institutions / research institutions / centers of excellence in the designated areas e.g. Talent Mobility / Work-integrated Learning / Co-operative Education / Dual systems or Cooperation in development of human resource or technology as approved by Thailand Board of Investment
- The BOI applications must be submitted by end of 2016 and production or operation must start by end of 2017. (Extension is possible if deemed appropriate.)
Read here for the list of eligible activities for Thailand BOI promotion regardless of cluster policy and the benefits given.
Contact ThaiLawyers today to learn about Thailand BOI process.