The Thailand Board of Investments (BOI) is responsible for implementing Thai government policy for promoting certain business deemed beneficial to the Thai economy. Thai BOI assists Thais and foreign investors to start and conduct businesses in desirable areas of economic activities by offering a system of incentives.
Thailand BOI Incentives
The Thailand BOI incentives are classified into the following types:
- Tax Incentives
A BOI promoted company in Thailand may be eligible to receive an exemption or reduction of import taxes duties and may also be eligible to be exempted from a juristic person’s tax and dividends, as well as double deductions from the cost of transportation, electricity, water and project’s infrastructure installation.
- Non-Tax Incentives
Local and foreign businesses certified by the Thai BOI are eligible to hire foreign skilled workers and experts. Further, the BOI provides for express non-immigrant visa and work permit processing through “One-stop Visa”. Non-tax incentives may also permit foreign freehold landownership to businesses involved in industrial related projects.
Setting up a Thai BOI Promoted Company
Investors seeking to do businesses in Thailand may apply for a Thai BOI promotion. The BOI categorizes industries according to types and provides application forms specific to each industry. Generally, companies that are given priority for Thai BOI licensing are those involved in technology and innovation, manufacturing and export and other investments showing potential business growth. Non-industrial businesses such as nursing homes for the aged and movie productions are also promoted by the Thai BOI with investment incentives.
