100% foreign ownership is permitted, granting investors flexible investment plans
What is BOI?
Board of Investment, or BOI, is a government agency that promotes foreign investment in Thailand, directly under the prime minister's office. The Thai government has always been encouraging foreign investment. In 1954, it enacted the BOI act, an investment promotion policy, aiming to attract more foreign enterprises to invest in Thailand and improve the economic vitality of Thailand. Since 1954, each new cabinet has issued new policies to provide more promotion and support for foreign investment in Thailand.
· 100% foreign ownership is permitted.
· Enjoy preferential tax policy, zero tariff, tax exemption for imported equipment, and exemption from business income tax for up to 15 years
· Foreigners are allowed to own land and hold permanent title to land.
· All family members of foreign technical professionals are allowed to enter the country and can be issued with visas and work permits.
· Some industries enjoy licenses for foreign currency to be transferred to overseas.
· A Thai joint venture should have a ratio of Thai and foreign employees of 4:1. But BOI companies have no proportional restrictions on foreign and Thai employees.
· Foreign nationals may obtain a license to enter the Kingdom for research investment, and skilled workers and experts can enter the Kingdom for investment promotion activities.
Preferential tax policy for approved investment projects according to their grades.
· Exemption/reduction of import duties on machinery.
· Exemption of import duties on materials imported for R&D purposes.
· Exemption of corporate income tax on net profit and dividends derived from the promoted high technology and innovation activity.
· Double deduction from the costs of transportation, electricity and water supply.
· Exemption of import duty on raw or essential materials imported for use in production for export.
· Reduction of import duties for raw or essential materials.
· Exemption of corporate income tax on the net profit and dividends derived from the promoted activity.
· A 50-percent reduction of the corporate income tax.
· Additional 25-percent deduction of the cost of installation or construction of facilities.
Applying for a BOI Company
Applying for a BOI company is a tedious job. ACS law firm has many years of experience in collaborating with BOI officials, which can help you complete the application process more efficiently.
As the BOI category is relatively limited, different industries will be eligible for different tax benefits, based on factors such as business size, location, and turnover. ACS can provide consulting services on preferential BOI tax policies for designated industries to help you make a pre-investment feasibility analysis more clearly.
Our Professional BOI Lawyers
Our professional BOI lawyers are always at your service.
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