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BOI Application

One-Stop Service Center for BOI Application

What is BOI Promotion?​

 

Over the last 5 years the new Thai government has made many changes to the foreign investment laws in the hopes of attracting foreign companies to setting up in Thailand. Changes have also been made to the speed and ease of setting up a foreign business entity in Thailand. The Thailand Board of Investment is the body in charge of attracting more foreign investment into Thailand. Any company incorporated in Thailand can enjoy a whole host of benefits from being certified as a “BOI Promoted Company” by the Board of Investment of Thailand. Beyond major tax incentives, applying to be a “BOI Company”, comes with a range of non-tax benefits. Such as streamlined visa applications  and waivers on foreign land ownership restrictions.

Apply for a BOI Application. Take our help.

To promote foreign investment within the country, the Office of the Board of Investment of Thailand has revamped foreign investment laws. Because of this, a foreign entrepreneur can more easily and quickly set up a business in Thailand. Considering Thailand’s favorable economic climate, foreign investors have never been better. A significant reason such companies must apply for BOI approval is that they can reap many benefits of doing business in Thailand after getting the same. Overall, it is now safer for BOI-approved foreign companies to make these investments and expand their business. Contact us at Interloop and give wings to your foreign investment and diversification dreams.

Eligibility Criteria for BOI Promotion​

In order to be eligible for investment promotion by the Board of Investment Thailand; your business must fall under one of the following industries

Agriculture and Agricultural Product

Metal Product, Machinery and Transport Equipment

Mining, Ceramics and Basic Metals

Light Industry

Electronic Industry and Electric Appliances

Chemicals, Paper and Plastic

Services and Public Utilities

Technology and Innovation Development

Benefits of Applying for BOI Promotion

Up to 8-years Corporate Tax Holiday​

Up to 100% Foreign Ownership

Streamlined Work Permit Applications

Ability to Own Land​​

Exemption of Import Duties on Raw Materials Used in R&D​

Tax Waiver on Importation of Machinery​​​

How does BOI investment promotion benefit Thailand’s economy?

In order to be eligible for investment promotion by the Board of Investment Thailand; your business must fall under one of the following industries

Increased National Competitiveness

The overall business capacity of firms within an economy increases when there is more research and development, innovation, fairer competition, value creation in the industrial, agricultural, and services sectors, and reduced economic & social disparity.

Energy Savings

The promotion of environment-friendly activities helps save energy. That is because alternative, cost-efficient energy sources are used to drive balanced & sustainable growth.

Strengthening of Value Chains

The BOI promotes clusters of regions as favorable areas of investment. As a result, the regional economic potential is fully tapped, which leads to increased value generation from supply chains.

Enhanced Local Security

By promoting investment in border provinces of Southern Thailand, the local economy develops. As such, there is an increased potential to improve security. This, in turn, enhances the sense of safety among the natives.

Better Economic Connectivity

Under the BOI’s endeavor, Special Economic Zones–especially those in border areas–are promoted. So, there is better economic connectivity of internal and external industrial estates with neighboring countries. Eventually, the country is better prepared to enter the ASEAN Economic Community. Besides, with more businesses filing for BOI applications in Thailand, the share of Thailand’s role in the global economy is bound to increase.

What perks does a BOI promoted company get?

If a foreign or local entrepreneur wants to invest in the Board of Investment of Thailand’s promoted activities, they get more investment incentives from the government. The BOI aims to decentralize Thailand’s industrial base to nurture local skills. Eventually, there are more business opportunities, and the social welfare of people living in rural and urban areas is improved.

Businesses promoted by the Board of Investment of Thailand can avail several tax and non-tax incentives:

Tax Benefits

These include:

1. Exemption from Corporate Income Tax for some years.

2. Reduction of taxes or their exemption on dividends due to be paid to shareholders.

3. Reduced or no import duties on raw materials, machinery, and essential commodities.

4. Lesser costs of electricity, transportation, water supply, and installation and construction facilities.

Non-Tax Benefits

1. Land Ownership
Business owners have permission to send money abroad in foreign currency. They also get protection against the nationalization of their company.

2. 100% Foreign Ownership

The entrepreneur can bring foreign skilled workers and experts. Such specialists’ visas and work permits are processed within a day at the Board Of Investment’s One-Stop Service Centre for Visas & Work Permits.

CASE STUDY

Cartrack

BOI Application Service

Cartrack Technologies (Thailand) Co.,Ltd.

Cartrack Technology (Thailand) Co., Ltd is a multinational company from South Africa, which provides software services for fleet management & GPS tracking. 

With the express purpose of expanding their operations into Thailand, we assisted Cartrack in setting up their entity through the BOI investment promotion scheme which granted them the right to have 100% foreign ownership.

Cartrack is also able hire a expats & apply for their Visa/Work Permits through the BOI scheme. Last but not least, they also gained  a 5-year corporate income tax waiver.

What is the process of BOI application in Thailand?

Application Preparation

Once you provide the required details, the team at Interloop prepares and fills in the application for you, which can be issued either in your firm’s name or your name. It consists of two parts:

Project Plan
As per the industry that your business promotes, we ask for information about your work processes. We also want to know how and what value you bring to your customers, the details of the product, software, hardware, and machinery used in production. The entire process takes about a month. Then, after around 14 days, we will inform you of the project presentation date.
Business Plan
Here, we consider and analyze the financial value your company brings to the economy. Your future expenses, sales, clients, marketing, hiring, and employees requirements are taken into consideration.
Application Submission and Scheduling BOI Presentation
We submit your completed application online and set a date for you to present your project/idea to the Board Of Investment committee. We get the Board’s resolution in around 1.5 months.
Company Registration
Once we receive a positive resolution from the Board, you are usually given six months to register with the Department of Business Development. It is important to note that the Board can promote only the companies registered in Thailand.
Issuing the BOI Certificate
There are two requirements for the certificate to get issued: the business must be registered in Thailand, and you must show Proof of Funds–at least one-fourth of the essential capital requirement of 1M+ THB.
Securing Work Permit and Visa
These documents are required for the employees & the foreign director.
Achieving Compliance
Now that you have got the certificate, officials at your BOI-promoted business have to regularly notify the authorities concerned about your business activities and accounts.

Consult Our Professional Team

We can make it simple.

How does the team at Interloop help?

The government has launched many BOI investment promotion initiatives, and we want you to know and derive all benefits of setting up a company in Thailand. Need to get your company registered? Talk to us, and we will help you at every step along the way. Once you partner with the experts at Interloop, leave behind all your worries and concerns about company registration. We will do all the heavy lifting for you to take it easy. Spend the time saved in taking managerial decisions that will affect the running of the business in the long run. Our team offers complete hand-holding right from the start till the end. But that’s not all. We also provide post-registration services–tax filing, immigration, compliance, and much more. Interloop is the one-stop solution offering a comprehensive BOI company registration package including planning, BOI application, visa and work permits, and compliance. Get in touch with one of our experts if you want to set up business operations in Thailand. Reach out to us now!

We can make it simple.

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Get in touch

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Level 3, Prasert Sutt Building 360 Sanambinnam Nonthaburi Road,
Bang Krasor, Mueang Nonthaburi,
Nonthaburi 11000 Thailand

Singapore

#23-05 International Plaza, 10 Anson Rd, Singapore 079903

Contact Us

TH Phone : +66 (0) 97 106 9113
SG Phone : +65 9102 0303
Office Phone : +66 (0) 2 007 0971
Email : enquiry@inlps.com
Line@ ID : @inlps

Our Hours

MON-FRI : 09:00 – 18:00

Get in touch

Contact Us

TH Phone : +66 (0) 97 106 9113
SG Phone : +65 9102 0303
Office Phone : +66 (0) 2 007 0971
Email : enquiry@inlps.com
Line@ ID : @inlps

Our Hours

MON-FRI : 09:00 – 18:00

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Thailand Office

Level 3, Prasert Sutt Building 360 Sanambinnam Nonthaburi Road,
Bang Krasor, Mueang Nonthaburi, Nonthaburi 11000 Thailand

Singapore Office

#23-05 International Plaza, 10 Anson Rd, Singapore 079903

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