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POST-BOI SERVICES

One-Stop Service Center for BOI Application

BOI Compliance After Obtaining The Promotion Certificate​

Once an applicant has obtained the Promotion Certificate from the Board of Investment (BOI) Office, The promoted company must comply with the several conditions

The One-Stop Post BOI Service Solution

Now that you’ve got the promotion certificate, it’s time to ensure that you have all the resources and the bandwidth to run your company operations. Besides, it is crucial to ensure compliance for the business activities to run smoothly. With these things in place, steering ahead of the competition is no longer a challenge. Take the help of our team of specialists to manage it all. Our suite of services covers everything from the start till the end–project consultation, handling documents, even submitting forms. Our assistance helps you save precious time, which you can invest in brainstorming ideas to channel your company’s long-term growth.

Our Post-BOI Services

To be a project consultant, take care of you at every step after obtaining a promotional certificate

We help you plan everything about a project: its schedule, milestones, dependencies, finding the right tools to complete the project cost-effectively, and allocating the required budget as per the resources used. Our finance experts check your business model and, accordingly, plan your budget. We even assist you with the issues of increased staff rates. Simply put, we do everything to ensure that the project aligns with the overall business goals. Our team of legal consultants keeps you informed on all updates made to business policies and the way of conducting business. We understand that you do not want to take the risk of being unaware of the recent changes to codes of practice. The experts also help you deal with all legal compliance issues.

Preparing information for submit various annual forms as determined by the BOI

Some additional forms need to be filled in for the smooth running of a business. One of these is an Apostille. It is a certification that allows you to accept documents sent by officials outside national borders. It is a post BOI service by the Interloop team that enables you to apply for an Apostille through the Secretary of State office. Our body of experts assists you in filing form(s) to get a Federal Tax ID number. You do not need a Federal Tax ID number if you are a sole proprietorship and do not have any employees. But you need the same if your business is a Limited Liability Company, Corporation, or a partnership.

Providing consultation and prepare forms for your benefits

If you are investing in one or a few of the promoted activities of the Board of Investment of Thailand, you need to submit certain forms to derive investment benefits. These include both Tax Benefits–exemption from Corporate Income Tax and import duties on various items, low electricity costs, etc–and Non-Tax benefits–ownership of land and 100% foreign ownership. We understand that this is a lot of paperwork. Our expert team specializes in simplifying such complex processes. We do all this so that increasing costs do not become a burden for you right at the start of your business. Talk to one of our specialists, who will be happy to assist you.

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Full Services of permission request

First thing’s first. Be clear about the nature of your business. It will help you know about the kind of permissions you’ll need. Accordingly, our Post BOI service team will help you draft a Founders Agreement. It mentions essential business details, including operational information, responsibilities, compensations, exit clauses, and much more. As a result, your business will have a rock-solid foundation before it expands. You also need to adhere to various labor laws, no matter the size of your business. Ensure compliance with PF payment, gratuity, minimum wages, maternity benefits, and sexual harassment laws, among others. Our legal counsel will help you assess the applicable laws and ensure regulatory compliance.

Procedures Of Post-BOI Services

Continuing implementation of the project

 Annual report

Corporate income tax holidays

Obtain full operation start-up certificate​

Which Business Best Practices to follow?

Capital Investment Best Practices

To benefit from reduced tax duties, import all business machinery and equipment within thirty months. Also, get the company/factory building constructed within three years. By this time, all the equipment should have been installed. If you face a hurdle and need more time to complete these steps, inform the Office of the Board Of Investment about it in writing.

Accounting Best Practices

Ensure that you file all the mandatory reports–Withholding Tax, Social Security Fund, yearly auditing, and Value Added Tax. The BOI inspectors & revenue department officials strictly monitor and enforce corresponding penalties if you don’t follow the above-mentioned standard protocol.

Project Best Practices

Submit the project’s progress report while confirming that it will be implemented after six months, a year, and two years after the promotion certificate has been issued. You first need to obtain a full operation start-up certificate to start operations. To get the license for beginning operations, you must have successfully followed the capital investment best practices. And if there is a snag, send a letter to the BOI office requesting an extension to complete the capital investment process.

Operations Best Practices

You have to seek permission from the BOI to halt the business operations if the need arises. Moreover, get written permission from the BOI if you are trying to sell, mortgage, transfer, or lease the machinery imported at a reduced or an exempted reduced duty rate. The sanction also needs to be sought if you use the equipment or machinery for non-approved purposes.

Consult Our Professional Team

We can make it simple.

Things to Remember

  • After obtaining the license, submit your company’s Financial Status Report, including the project operation result (TorSor 310 form), every year by 31 July.
  • You can avail corporate income tax holiday for a certain number of years even if your company has not yet obtained the full operation start-up certificate. So, if you are looking to get the benefit, reach out to one of our BOI services experts and they will help you in no time.
  • If you want to establish branches of foreign companies in Thailand, no general registration is required. But if it operates within specific fields (banking and services, petroleum exploration and production), special registration or licensing is required once the business activities start.

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NO JOB IS TOO SMALL OR TOO BIG FOR US​​
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What is the International Business Centre?​

Once a firm is granted the IBC status, it can avail tax privileges on the equipment and machinery used for training and R&D activities. It also gets non-tax privileges on permission for skilled workers and experts to work in investment promoted activities, take out or remit funds abroad in foreign currency, and own land. To get the IBC status, your company needs to have at least THB10 million fully paid up. It also needs to have at least ten skilled and expert staff members. In December 2018, the BOI canceled the promotion of businesses under the International Headquarters and International Trading Centre categories. Now, a business could only be promoted under the category of IBCs. Note that if your company’s BOI application was submitted before 11 December 2018, its approval would not be affected. Contact us to know more about the post BOI services we have to offer.

Thailand Office
Singapore Office

Get in touch

ThailanD

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
Email : enquiry@inlps.com
Line@ ID : @interloop

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
Email : enquiry@inlps.com
Line@ ID : @interloop

Our Hours

MON-FRI : 09:00 – 18:00

Follow Us
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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We look forward to growing with you
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