BOI Promotion for Economic Forest Plantation
The BOI provides incentives and benefits for doing business in Thailand within the economic forest plantation industry. This does not include the forestation of Eucalyptus trees. As global growth and populations have increased, environmental leaders have shared the importance of sustainable forest plantation and healthy economic incentives. To benefit from the economic forest plantation incentives, businesses must meet certain conditions.
The BOI conditions and incentives are summarized below:
- Conditions:
- Projects must have research and development activity.
- Total plantation area in close proximity must not be less than 300 rai, at least 50 rai of which must be adjacent.
- Projects must receive approval from the Ministry of Natural Resources and Environment.
- Incentives are A1 category:
- Exemption from corporate income tax for 8 years with no cap.
- Exemption of import duties on new machinery.
- Exemption of import duties on raw materials used in production for export.
- 100% foreigner ownership.
- Permit to own land.
- Permit to bring in skilled workers and experts to work in the Kingdom.
Thai Lawyers can assist you in setting up your company in Thailand, get the investment promotion from the BOI and obtain Foreign Business Certificate. Contact us now.