Foreigners can engage in co-working space business and be eligible for Thailand BOI promotion as a digital ecosystem supported business. Under activity no. 8.3.3 Co-working space, the BOI has the following conditions before they can consider granting the promotion for this project:
- The service area must not be less than 2,000 square meters.
- The investment (excluding the cost of land and working capital) must not be less than 10 million Baht.
- There must be management elements (i.e. Co-Working Management, Membership Management System and Supporting Management).
- There must be provision of basic tools or equipment for servicing such as office equipment, computer, printer, etc.
- There must be basic public utility in the project such as high speed fiber optic communication system, uninterruptible power supply, air conditioning system, and fire suppression and accident prevention systems.
If the project is approved, the company can be granted non-tax benefits as follow:
- Exemption of import duties on machinery
- Other non-tax incentives such as eligibility to own land if ever you want to build a building for your co-working space, and to have Thailand work permit for expat employees.
Are you planning to open a co-working space business in Thailand? Contact Thailand BOI experts for consultation and setting up your company under the BOI promotion.