Thailand BOI for Gems and Jewelry Business is possible if you are manufacturers, Thai or foreign. They now have a chance to establish or branch out their business in this country with the Board of Investment promotion. Some foreigners may wonder if they do not have Thailand BOI promotion for Gems and Jewelry Business, can they still own it 100%. Yes, they can. The Thai Foreign Business Law does not prohibit foreigners from manufacturing jewelry. However, with the Board of Investment promotion, the jewelry manufacturing business can get Thailand BOI benefits. Below are some of them.
• 3yrs amnesty for corporate tax
• Tax exemption for importation of machinery
• Tax exemption for raw materials for one (1) year (can be extended according to BOI rules & eligibility)
• Other non-tax incentives
For this kind of industry, the company also needs to get certification or license from Ministry of Industry for their factory. Registering your company and getting a certification from Ministry of Industry go hand in hand, with or without the investment promotion from Thailand BOI for Gems and Jewelry Business.
We understand that it can be overwhelming to know the legalities you need to do when setting up your business in a foreign country. Need assistance in making this happen? Send us an email now at Info@ThaiLawyers.com and get an assistance from Thailand BOI experts.