BOI Promotion for Manufacture of Solar Products
The BOI provides incentives for doing business in Thailand within the fast-growing solar power industry. This includes the manufacturing of parts and/or equipment for solar-powered products.
Global investment in renewable energy grew tremendously last year, far surpassing fossil fuels and driving down the price of clean energy. As appeal for sustainable fuel grows, new infrastructure and supply is being created to meet global demand. In 2017, world investment in solar energy grew by a staggering 20%. In Thailand, 8% of energy consumption comes from renewable energy; the country hopes to raise this figure to 30% by 2036. Attractive incentives are offered to investors in the industry.
The BOI incentives and benefits for the business of the manufacturing of parts and/or equipment for solar-powered products are summarized below:
- 5 years of corporate income tax exemption
- 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 enough for your business
- Many work permits for your skilled workers and experts without the ratio of capital or Thai employees to the number of expats.
Talk to ThaiLawyers today for the smoothest route to set up your Thailand BOI company.