A foreigner wanting to do advisory service related to engineering asked Thai Lawyers if we can get Thailand BOI certificate for their engineering business here. We would like to share the points to consider if you want to get BOI for your engineering – consulting business. If you provide engineering and technical services, which are not related to architecture and civil engineering, then you can try to apply for Thailand BOI before you set up your company. However, if it is architecture or civil engineering related, you will need to set up a company and get licenses related to architecture and/or civil engineering before you can submit the application with the board of investment. Then after you get the BOI certificate, you need to spend at least THB 10 million in selling and administrative expenses per year within the first 3 year period from the time your BOI certificate was issued. Otherwise, your BOI status will not valid anymore.
Why should you get BOI in Thailand? Because it helps your company to hire foreign employees and get them work permit more easily than without BOI. Non-BOI companies need to have 2 – 3 million Baht capital in order to sponsor one work permit and they need to hire four Thai employees for each foreigner they hire. This is well known as 4:1 ratio. BOI even permits you to own land, or example, you can buy a house with land to be used as your office for your BOI business activity.
Learn more about what Thailand BOI is. If you have any questions, contact Thai Lawyers Ltd. We can help you find the best way to operate your business in Thailand.