The BOI, Board of Investment was set up with the aim of improving the competitiveness and attractiveness of the Thai economy by encouraging innovation, the agricultural and industrial service sector and supporting small and medium-sized enterprises (SMEs).
Emphasis is also placed on ecological innovations (Eco-friendly environment), renewable and alternative energies, better resource management and sustainable development.
Promotion for installation in regions such as the EEC (East Economic Corridor) and connectivity with ASEAN while ensuring the competitiveness of Thai companies.
Many advantages are granted to BOI businesses, including tax and administrative benefits.
- According to the activities a 50% discount on corporate tax for 5 years for investments within the promotion zones regions.
- Exemption for imports of machinery, equipment, raw materials used for export and research and development
- 100% foreign ownership possible (activities listed in the foreign business act are excluded)
- Possibility for a foreigner to own land
- Possibility of hiring foreign employees with the necessary skills.
Do you have a specific investment project justifying the application for BOI promotion? Below, the categories of eligible activities:
- Agriculture and agricultural products
- Mining, ceramics, and metals
- Industries Legeres (example textile production)
- Metal products, machinery, and transport equipment
- Electronics industry
- Chemicals and plastics
- Chemicals, Paper, and Plastics
- Services and Public Utilities (Examples: tourism activities, co-working space, hotel +1000rooms) Electricity generation, production of tap water, real estate/real estate in the industrial context, technological developments);
- Technology and Innovation & Development
We can discuss about your project, answer all your questions about the eligibility of your activity and assist you throughout the procedure.
This article is a general briefing note which does not replace the advice for any individual situation, the firmshall not be rendered liable for its content.