Thailand BOI or Board of Investment operates under the Ministry of Industry and is the principal government agency for encouraging investment, and also acts as Thailand’s marketing arm and actively promotes the country worldwide as one of the best investment locations in Asia.
The BOI offers an attractive and competitive package of tax incentives, imposes no foreign equity restrictions on manufacturing activities or on some service, provides assistance in the provision of visas and work permits to facilitate entry and subsequent operation for a foreign-owned business and waives restrictions on land ownership by foreign entities.
If you are looking to do business in Asia, you need to consider getting investment promotion from the BOI.
Foreigners who want to own 100% of their business in the land of smiles should consult with ThaiLawyers to see if their business is eligible for getting Thailand BOI. Businesses that need to hire many foreigners, but do not want to hire 4 Thais for each work permit, should see if their business is one of Thailand BOI eligible activities.
Thai Lawyers provide very easy application process for Thailand BOI Companies.
To prepare the application for investment promotion with the Board of Investment is complicated and there are many accounting/financial related sections that most law firms cannot help with, so most of the work is done by the clients.
ThaiLawyers Ltd. is in collaboration with CPAs to make the BOI application very easy for our clients. We study your business and write the project for you. After considering the below information about Thailand BOI, if you want to learn more to see if it is right for you, you definitely should contact us. (Here is our BOI clients’ testimonials). You should also read the information about the Thailand BOI process.
What are the Thailand BOI Incentives?
The Board of Investment offers two kinds of incentives or benefits to promoted projects, regardless of location: tax incentives (include exemption or reduction of import duties on machinery and raw materials, and corporate income tax exemptions) and non-tax incentives (include permission to bring in foreign workers, own land and take or remit foreign currency abroad.) Moreover, it offers more privileges based on the location of the business in the three Investment Promotion Zones throughout Thailand.
Read the new Thailand BOI benefits. Some benefits of getting the investment promotion is up to 8 years tax exemption as well as ease of issuing work permits for foreigners under certain criteria. Check the List of Business Activities Eligible for Thailand BOI Promotion to see if your planned business can apply for the promotion from the Board of Investment). It is also recommended that you learn about Thailand BOI cluster policy, which was announced in November 2015.
We ThaiLawyers specialize in helping SME, medium and other businesses in creating a foreign presence in Thailand.
If you have any further questions or want to consult with us about how to setup a Thailand BOI Company, please contact us today and one of our English speaking Thai Lawyers will contact you within 24 hours to assist you with any query or issue you have in creating a company here in Thailand.