KHONSU LEGAL
BOI Promotion
BOI Benefits
Tax exemptions, full foreign ownership, and streamlined business operations in Thailand.
- Foreign ownership100% foreign company ownership without the need for Thai partners.
- Tax incentivesExemption from corporate income tax for certain types of activities.
- Incentives for the import of raw materials.Reduction or exemption of import duties on raw materials and essential materials.
- Requirements for minimum capital.From 1 million baht of paid-up capital (depending on the category and type of project).
- Hiring foreign employees.Exemption from the requirement to hire four Thai employees for each foreigner.
- Exemption or reduction of taxes on dividends.Companies receiving BOI incentives in certain categories may be exempt from paying taxes on dividends.
- Permission to own land.The land must be used for carrying out activities corresponding to the approved project.
- Incentives on electricity and water.Double deduction from expenses on transportation, electricity, and water supply.
What is a BOI company in Thailand?
BOI (Board of Investment) is Thailand’s investment board, established to promote and support both foreign and domestic investments in the country. The BOI plays a key role in Thailand’s economic strategy, aiming to attract capital, technology, and experts in order to stimulate economic growth and the development of key sectors.
Step-by-step plan.
1
Evaluation of compliance with BOI requirements.
Will your application for a BOI license be successful? Our experts will review your business plans and inform you about your chances of success.
2
Preparation and submission of the BOI application.
We assist with preparing and submitting your BOI application, ensuring compliance for success.
3
Presentation of your project in BOI.
Our experts will work closely with you and your team to ensure you are fully prepared for the presentation.
4
BOI approval
Company registration, submission of an application for obtaining the Foreign Business Certificate.
Which types of businesses are eligible for the BOI certificate in Thailand?
1.
IT industry and high-quality services
- It covers software development, digital platforms and content, as well as businesses supported by the digital ecosystem
- Thai film production
- Film production support services
- Industrial zone for film production
- Research and development
- Engineering design
- Scientific laboratories
- Calibration services
- Product sterilization service
- Human resource development
- It covers tourism promotion services and events to support the tourism industry
- Public transport systems, bulk cargo transportation, and loading/unloading equipment
- Logistics service centers
- It focuses on the creation of smart cities. The concept is aimed at using modern technologies and innovations to improve the quality of life for residents and enhance the efficiency of urban management
2.
Key and supporting industries
- Creative design and product development
- Production of technical or functional fibers
- Production of functional yarn or fabric
- Production of recycled fibers
- Production of other fibers, yarns, or fabrics
- Bleaching, dyeing and finishing, printing and finishing
- Production of clothing and home textiles
- Production of bags, footwear, and leather or synthetic leather products
- Production of gemstones and jewelry, including raw materials and prototypes
- Production of sporting equipment and its parts
- Production of musical instruments
- Production of furniture and its parts
- Production of toys
- Printing production
- Production of petrochemical products
- Production of plastic products
- Production of pulp or paper
- Production of products made from pulp or paper
- Production of electricity or steam from waste or fuel derived from waste
- Production of electricity or steam from renewable sources such as solar energy, wind energy, biomass, or biogas, excluding fuel derived from waste
- Production of electricity or steam from hydrogen
- Production of electricity or steam from other energy sources
- Production of potable water, industrial water, or steam from waste
- Production of potable water, industrial water, or steam
- Energy Service Companies (ESCO)
- Recycling and reuse of unwanted materials
- Sorting and separation services for unwanted materials located in industrial zones or industrial areas supported by the BOI
- Industrial zone or industrial park
- The project must have at least 51% Thai shareholders of the registered capital
- Projects in Bangkok and Samut Prakan are not eligible for promotion
- The total area of the project must be at least 500 rai
- The area allocated for factories must be at least 60% and no more than 75% of the total area, except for projects with a total area greater than 1,000 rai, for which the factory area must be approved by the board
- Production of chemicals
- Production of chemical products for various needs
- It includes electronic design, production of electronic products, and electrical appliances
3.
Biotechnology and medical industry
- Production of biotechnology-derived products; bioplastics, biochemistry. Development of biotechnology
- Includes nonwoven materials and hygienic products, medical devices, active pharmaceutical ingredients, and medicines
- Includes specialized medical centers and healthcare services
- Focuses on conducting and supporting medical research
4.
Machines and automation
- Production of fuel cells and their components
- Shipbuilding and repair
- Manufacture and/or repair of rolling stock, parts, or equipment for railway systems
- Charging stations and battery swap stations for electric vehicles
- Focused on the development and production in the aerospace sector
- Production and/or repair of vehicles and weapon systems for national defense
- Production and/or repair of unmanned systems for national defense and components used in production and/or repair
- Production and/or repair of weapons and training equipment, as well as their components
- Production and/or repair of auxiliary equipment for combat operations
- Production of scientific equipment
- Production of lenses not classified as medical devices
- Production of engines, equipment, or parts
- Production of auto parts
- Production of general-purpose vehicles
- Production of motorcycles (except those with an engine capacity of less than 248 cc)
- Production of battery electric vehicles, hybrid electric vehicles, and platforms for them
- Production of electric batteries for motorcycles
- Production of battery electric tricycles and platforms for them
- Production of battery electric buses and trucks and platforms for them
- Production of electric bicycles (E-BIKE)
- Production of fuel cell electric vehicles and equipment for fuel cell systems
- Design of electronic devices such as microelectronics, optoelectronics, or embedded systems
- Production of electronic products, devices, and components
- Production of electrical appliances, devices, and components
5.
BCG Industries
Bioeconomy, Circular Economy & Green Economy
- Includes upper agriculture; economic forest plantations and energy crop plantations, animal breeding or livestock farming, deep-sea fishing
- Processed agricultural products; plant starch, oils and fats from plants or animals, leather goods, natural rubber, preservation of food, beverages, food additives, ingredients or dietary supplements, future foods, animal feed or feed ingredients, alcohol or pharmaceutical alcohol from agricultural products, including waste, as well as natural extracts and products derived from them
- Modern agriculture; plant or animal breeding, production and maintenance of machinery and equipment for modern agricultural systems, plant factory
- Support for the agricultural sector; fertilizers, equipment for drying and storing crops, sorting and storage of agricultural products, refrigeration units and transportation, trading centers for agricultural goods
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Our Team
- AndyManaging Director
- RomanPartner
- SathapanaLicensed Lawyer
- JanthipPartner
- NailsaVisa Specialist
- ChanakarnLicensing Specialist
- MarinaClient Manager
- SawarinLicensed Accountant
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by KHONSU LEGAL
BOI approval in Thailand allows qualified companies to take advantage of a variety of beneficial incentives. These incentives include 100% foreign ownership of the company, tax exemptions and reductions, as well as relaxed requirements for obtaining work permits for foreign employees. These benefits are not available to traditional structures of Thai companies.
Foreigners who wish to work, do business, or engage in investment activities in Thailand are required to apply for the appropriate visa and work permit. Companies that have received BOI support can assist in obtaining visas and work permits for foreign employees and are subject to fewer requirements compared to traditional Thai companies.
In addition to specific tax incentives, the main benefits of BOI privileges include the possibility for foreigners to own up to 100% of the company’s shares, acquire land, and an easier process for obtaining visas and work permits:
TAX INCENTIVES
The tax privileges granted by BOI vary depending on the project’s category and location:
Other benefits provided to all BOI projects include:
TAX INCENTIVES
The tax privileges granted by BOI vary depending on the project’s category and location:
- Exemption from corporate income tax for up to 9 years
- Exemption or reduction of import duties on equipment and raw materials
- Exemption from dividend tax
- Deductions for transportation, electricity, and water supply costs
Other benefits provided to all BOI projects include:
- Ownership of up to 100% foreign shares
- A one-stop service center for obtaining visas and work permits with simplified criteria for foreign skilled workers
- Permission to own land
- Permission to transfer funds abroad in foreign currency
- Protection from company nationalization
- Agriculture and agricultural products
- Mining, ceramics, and basic metals
- Light industry
- Metal products, machinery, and transportation equipment
- Electronics industry and electrical appliances
- Chemical products, paper, and plastics
- Services and utilities
- Technology and innovation development
To receive BOI benefits for your company in Thailand, you need to go through the following steps:
- Conducting a business feasibility study
- Submitting an application to BOI and attending an interview
- Receiving BOI approval and accepting the proposed conditions
- Registering the company with BOI benefits in Thailand
- Obtaining work permits and visas
- Meeting necessary reporting and compliance requirements
Yes, foreigners can open a company in Thailand. There are also options that allow for the establishment of companies with 100% foreign ownership