If your business is to manufacture automotive and parts in Thailand, consider locating your factory in Ayutthaya, Pathum Thani, Chonburi, Rayong, Chacheongsao, Prachinburi or Nakhon Ratchasima, and applying for Thailand BOI promotion with the Board of Investment. You may be eligible for special BOI benefits from the Cluster Policy. However, you need to check whether your activities are one or more of the following:
- Manufacture of motorcycle with engine size of at least 248 CC. (only for projects with forming of engine parts)
- Manufacture of automobile engines
- Manufacture of important parts that are not locally produced or sufficiently produced i.e.
- parts using advanced technology
- safety and energy efficient system
- equipment for hybrid, EV, PHEV cars
- fuel injection parts / transmission / engine system
- Manufacture of automobile tires
Here are the benefits from Thailand BOI for the above activities located in the 7 provinces:
- 8-year corporate income tax exemption and an additional 5-year 50% tax reduction
- Import duty exemption on machinery
- Consideration of granting Permanent Residence to the leading specialist
- Permission for foreigners to own land to implement the promoted activities
Contact ThaiLawyers for assistance with Thailand BOI process.