The Thailand Board of Investment (BOI) is a government agency under the Office of the Prime Minister that aims to promote foreign and local investment in targeted industries and economic sectors. BOI offers a wide range of incentives and benefits to companies that qualify for investment promotion, making it an attractive option for entrepreneurs and corporations looking to establish or expand their business operations in Thailand.
Registering a company under the BOI can provide significant tax and non-tax benefits, 100% foreign ownership in many cases, streamlined work permits, and visa facilitation for foreign staff. However, the registration process is selective and involves several steps that require careful planning and documentation.
This article offers a comprehensive guide on how to register a company under the Thailand Board of Investment, including eligibility criteria, application procedures, incentives, and compliance requirements.
The Board of Investment (BOI) is Thailand’s main investment promotion agency. Its objective is to attract investment that contributes to Thailand’s economic development, competitiveness, and innovation. The BOI promotes industries in line with Thailand’s national development strategy, including high-tech, digital, green, and value-added sectors.
BOI promotion allows companies to enjoy benefits that are otherwise unavailable to standard Thai or foreign companies.
1. Tax Incentives:
2. Non-Tax Incentives:
The BOI targets a broad range of sectors, including but not limited to:
Each sector has specific criteria that must be met to qualify for incentives.
Before applying for BOI promotion, businesses must:
Consulting with a legal or investment advisory firm is recommended to ensure alignment with BOI policies.
Applications for BOI promotion must be submitted online through the BOI Investment Promotion System (e-Investment Promotion Portal).
Documents required include:
BOI officers may contact the applicant for clarification or request further documents during the review.
After initial review, applicants are invited to present their project to BOI officials. The company representative (or appointed consultant) explains:
This step is crucial, as BOI needs to evaluate the project’s developmental impact.
Following the presentation:
If the application is approved, a BOI promotion certificate is issued within 10 days, and the company is granted promotional privileges.
Once BOI approval is obtained, the company must:
The company must also open its BOI-promoted project within the approved timeline.
After registration, the company must follow BOI compliance requirements:
Failure to comply may result in revocation of promotional privileges.
BOI promotes foreign investment by facilitating immigration processes:
This flexibility is especially attractive for companies needing to deploy international talent quickly.
BOI-promoted companies must:
If the company meets the full conditions of its BOI certificate, it can enjoy tax and non-tax benefits without interruption.
Working with local advisors or BOI-accredited consultants can help avoid delays or rejection.
Registering a company under the Thailand Board of Investment is a strategic move for businesses seeking growth in Southeast Asia. BOI promotion not only provides significant tax breaks and legal advantages for foreign investors but also signals government support for your business operations in Thailand.
By carefully preparing your application, aligning with the BOI’s targeted industries, and meeting compliance requirements, you can take full advantage of Thailand’s investment-friendly environment. Whether launching a tech startup, manufacturing plant, or service center, BOI registration is a powerful tool to enhance your company’s competitive position in the Thai market.