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Business in Thailand

BOI Investment Promotion

Thailand's Board of Investment incentives for foreign investors, including tax holidays, FBA exemptions, and work permit facilitation.

Overview

The Board of Investment (BOI) offers significant incentives to encourage investment in targeted industries and regions. BOI-promoted companies can enjoy corporate income tax exemptions, import duty exemptions, FBA exemptions, and facilitated work permits. Understanding BOI promotion is essential for foreign investors planning significant investments in Thailand.

Key Points:

Corporate income tax exemption up to 8 years for eligible activities
FBA exemption allows majority foreign ownership
Facilitated work permit process through BOI One Start One Stop center
Land ownership permitted for promoted projects
Import duty exemptions on machinery and raw materials
Application process takes 3-6 months typically

Eligible Activities

BOI promotes investment in specified industries aligned with Thailand's economic development goals.

Agriculture and agricultural products
Mining, ceramics, and basic metals
Light industry and textiles
Metal products, machinery, and transport equipment
Electronics and electrical appliances
Chemicals and petrochemicals
Services and public utilities
Technology and innovation activities

Available Incentives

BOI incentives vary based on activity category and location.

Corporate income tax exemption (3-8 years)
50% reduction of CIT for additional 5 years
Import duty exemption on machinery
Import duty exemption on raw materials for export products
Permission to own land for promoted projects
Permission to bring in foreign workers and experts
Permission for majority foreign ownership

Application Process

BOI applications follow a structured review process.

Submit application with project feasibility study
BOI reviews application (target 40-60 working days)
Present project to BOI committee if required
Receive promotion certificate upon approval
Complete project within specified timeframe
Submit annual reports on project progress
Maintain compliance with promotion conditions

Relevance for Foreign Nationals

BOI promotion is often the most practical route for foreign investors seeking majority ownership of a Thai company. BOI-promoted companies can be 100% foreign-owned and enjoy expedited visa and work permit processing. The One Start One Stop center provides streamlined services for BOI companies.

BOI Investment Promotion

Overview

Key Points:

Eligible Activities

Available Incentives

Application Process

Relevance for Foreign Nationals

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