As one of the eligible business activities under the digital industry category and associated with activity 8.1.1, which covers the development of software, digital platforms, or digital content., the Board of Investment (BOI) of Thailand promotes activity number 8.1.2: Modification of software, digital platforms, or digital content.
The main conditions for this activity are as follows:
- The minimum investment capital of each project must be at least THB 1.5 million per year, calculated based on the salaries paid to Thai information technology personnel (of the promoted project).
- The company must submit a business plan detailing the modification of marketed or serviced software, digital platforms, or digital content, in compliance with the conditions specified by the BOI.
- The promoted activity category cannot be amended.
- The use of existing or used machinery is permitted.
However, unlike activity 8.1.1, no tax incentives will be granted for this project. If promoted, the BOI will only provide non-tax incentives which include the following:
- Up to 100% foreign ownership of the company
- Visas and work permit for expat employees
- Exemption from import duties on machinery used for R&D and training services
- Permission to remit funds overseas in foreign currency
- Permission for foreign nationals to enter Thailand to explore investment opportunities
Planning to set up a BOI promoted company? Consult with Thai Lawyers to guide you through the process.