If you are interested in getting BOI promotion for manufacturing of fuel, you may be eligible if the fuel is made from agricultural products, including agricultural scrap or garbage or waste. Because of the nature of manufacturing, your business can be owned 100% by foreigners. The following activities should be the nature or components of the fuel your company produces, which you can apply for the investment promotion from Thailand BOI (Board of Investments):
- Manufacture of fuel from agricultural products
- Manufacture of fuel from agricultural scrap or garbage or waste, e.g. biomass to liquid (BTL), biogas from wastewater
- Manufacture of biomass briquettes and pellets
Your business will get the benefits under BOI. To list some of the advantages if your company will be listed as a promoted company of Thailand BOI:
- 8 years corporate income tax exemption for manufacture of fuel from agricultural products, agricultural scrap or garbage or waste, e.g. biomass to liquid (BTL), biogas from wastewater (However the tax exemption is only for 5 years in case of manufacture of biomass briquettes and pellets.) This includes also tax exemption on dividends.
- Tax exemption for importation of machinery
- Tax exemption for raw materials for one (1) year (can be extended according to BOI rules and eligibility)
- Work permits and one year visa for expats
- Owning land enough for your BOI promoted business
Ready to start your business here in Thailand, we can help you get this done in a quick and easy way. See our references and send us an email at Info@ThaiLawyers.com.