Foreign Company (Board of Investment)

In 1997, the Thai government set up the Board of Investment (BOI). The intention governing this establishment was to give investment incentives to both local as well as foreign entrepreneurs, who look forward to investing in the promoted activities of the agency.

In order to achieve this objective, there were a few adjustments made to the investment promotion policies to ensure the flow of investments from more and more businessmen, decentralize the industrial base of Thailand, and proactively respond to Thailand’s future economic situations.

Thailand BOI has designed specific criteria for projects applying for incentives and privileges. These criteria are dependent on the area of promotion, along with the degree of priority.

Two of the most noteworthy benefits offered by the BOI for promoted projects are:

• Tax benefits, for example,exception from corporate income tax, exemption on tariff or a reduction in the import machinery, and exemption on tariff or a reduction in the import raw material.
• Non-Tax benefits, for example, consent to own land, authorization to bring foreign experts onboard to work on the promoted projects, an exemption from work licenses and visa rules, and from foreign ownership of companies.

Irrespective of the location of the business and the business activities involved, non-tax benefits of the Board of Investment are applicable to all the BOI promoted projects. It is in the following three ways that BOI helps investors.

• Reduce the initial investment cost, and increase the rate of return on investment.
• Reduce investment associated risks.
• Facilitate support services at all times.

Sending applications to the Thailand BOI is a complex process, and therefore, involving a Thai law office to do so is a prudent idea. At BLS, our experts would help you with the application submission process. For more information on our process, for the right guidance throughout the process, get in touch with us through any of our contact numbers.