Under the machine and automation system industries, the Board of Investment of Thailand promotes the manufacture of machinery, equipment and parts and/or repair of mould and die.
To be eligible, the project must have the forming process of parts that serve in the main function of the manufactured machinery and/or the engineering design.
Once promoted, the BOI can grant the following incentives:
- A 5-year corporate income tax exemption, limited up to 100% of investment (not including the cost of land and working capital);
- Exemption of import duty on machinery;
- Exemption of import duty on raw or essential materials used in manufacturing export products for 1 year, which can be extended as deemed appropriate by the Board of Investment;
- Permission to own land enough for use in the promoted business;
- Permission to get many work permits for specialists and management
If you are looking to establish a manufacturing business in Thailand and it can be eligible for BOI promotion, contact Thai Lawyers now for getting a BOI certificate, setting up a company and getting work permits and visas for your expat employees.