The Board of Investment of Thailand promotes biotechnology industry. In this post, we list down the eligible manufacturing activities that are using Biotechnology:
- Manufacture of plants, animals or microorganism breeding using biotechnology
- Manufacture of biopharmaceutical agents using biotechnology
- Manufacture of diagnostic kits for health, agriculture, food and environment using biotechnology
- Manufacture of bio-molecules and bioactive substances using microorganism, plant cells and animal cells
- Manufacture of raw materials and/or essential materials for molecular biological research and development, experiment, testing or quality control for production of biological substance
Once the investment promotion is obtained, the BOI can grant the following tax and non-tax incentives to the promoted activities:-
- Full corporate income tax exemption for 8 years without any limit on the amount
- 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
- Permission to own land to be used in doing the promoted project
- Permission to hire expats with less restriction in getting work permit & visas
- Permission to bring skilled workers and experts into the Kingdom to work in the promoted projects
The minimum capital required for such activities depends on the forecast for the investment and working capital. If you engage Thai Lawyers to obtain the BOI promotion for your project, we will help you prepare the 3-year operation forecast and all related figures needed to prepare the BOI application. Contact us now for initial consultation.