The Board of Investment of Thailand (BOI) promotes the business activity of manufacturing electrical appliances.
To be eligible for BOI promotion, the project must manufacture air conditioners, refrigerators and freezers, washing and drying machines only. Such products must meet Thailand’s energy efficiency standards and have the high energy efficiency label (label no. 5) from the Ministry of Energy or have other equivalent energy efficiency.
Once promoted, the company can be granted with basic incentives as follows:-
- 3 years exemption of Corporate Income Tax with a cap (this offers a corporate income tax exemption on profits from the promoted activity, limited to 100% of the project’s investment, as determined by the BOI)
- Exemption of import duties on machinery
- Exemption of import duties on raw materials used in R&D
- Exemption of import duties on raw materials used in production for export
- Permit to own land
- Permit to bring into the Kingdom skilled workers and experts to work in investment promoted activities
- Permit for foreign nationals to enter the Kingdom for the purpose of studying investment opportunities
- Permit to take out or remit money abroad in foreign currency
Thai Lawyers can assist in getting BOI promotion for your eligible business activity, setting up a company and obtaining visa and work permit for your foreign employees. Consult with us now for further information.