BOI Promotion for Nanotechnology Development
Thailand Board of Investment sees the crucial benefits to Thailand in promoting the nanotechnology industry. If your business can meet these conditions, it is definitely worthwhile to pursue the BOI application.
- Target technology development procedures shall be used as a base for the manufacturing process or service provision in the target industry as approved by the BOI.
- There must be a technology transfer with an educational institution or research institute as approved by the BOI e.g. Technology Research Consortium.
- Project located in a science and technology park promoted by the BOI or one that is approved by the Board will receive an additional 50 percent reduction in a corporate income tax for 5 years after the end of its corporate income tax exemption period.
- Project may apply for merit based incentive and be granted the corporate income tax exemption for not exceeding 13 years.
- Project shall be granted import duty exemption on goods.
Here are the benefits of getting BOI promotion for your business in the nanotechnology industry
- Exemption from corporate income tax for 10 years without cap on the income tax you can save.
- Exemption of import duties on new machinery that you may need to import for your new business.
- Exemption of import duties on raw materials used in production for export.
- 100% foreigner ownership of your business
- Your BOI promoted company can own land that you will use only for your promoted business activity.
- Your company will be able to get a lot of work permits for your skilled workers and experts.
MSNA Group can help you set up your BOI company in Thailand with ease. Talk to us today.