BOI companies with incomes from various sources
Recently Thai Lawyers have received many inquiries from businesses that want to obtain BOI (Board of Investment) promotion. Most of them think that with the BOI status, they can own their business in Thailand 100% and can receive incomes from different sources. We want to explain here that having a BOI promoted company does not mean you can do any businesses. You can do only the business activity that the BOI approve on the BOI certificate.
For example, if you get the BOI certificate to do E-commerce platform, you need to start building your E-commerce platform inside the country and only charge the buyers and sellers on the platform for using your platform. (Just for E-commerce category, you can charge as a percentage of the transaction amounts). You cannot use the company to earn income from renting and selling real estate, consulting, trading goods, brokerage, etc.
Thailand has its Foreign Business Law, which allows foreigners to do certain business activities. For most business activities, if you do not want to have a Thai majority partner, you need to get a permission to operate the business. One way of owning your business 100% is to get a BOI promotion whose main purpose is to promote investment in the business categories that Thailand need for they create jobs or bring in new technologies. So if you want to know if your business is one of the BOI eligible activities, you should talk to us. We have the best solutions for you.