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.
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.
In order to be eligible for investment promotion by the Board of Investment Thailand; your business must fall under one of the following industries
In order to be eligible for investment promotion by the Board of Investment Thailand; your business must fall under one of the following industries
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.
The promotion of environment-friendly activities helps save energy. That is because alternative, cost-efficient energy sources are used to drive balanced & sustainable growth.
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.
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.
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.
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:
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.
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.
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.
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:
We can make it simple.
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.
Level 3, Prasert Sutt Building 360 Sanambinnam Nonthaburi Road,
Bang Krasor, Mueang Nonthaburi,
Nonthaburi 11000 Thailand
#23-05 International Plaza, 10 Anson Rd, Singapore 079903
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
MON-FRI : 09:00 – 18:00
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
MON-FRI : 09:00 – 18:00
Level 3, Prasert Sutt Building 360 Sanambinnam Nonthaburi Road,
Bang Krasor, Mueang Nonthaburi, Nonthaburi 11000 Thailand
#23-05 International Plaza, 10 Anson Rd, Singapore 079903