Thailand BOI company registration is one of the way foreigners may be able to own their Thai business 100%. The Board of Investment promotes investment in the country by offering two kinds of incentives to promoted projects, regardless of location: tax incentives (include exemption or reduction of import duties on machinery and raw materials, and corporate income tax exemptions) and non-tax incentives (include permission to bring in foreign workers, own land and take or remit foreign currency abroad.) Moreover, Thailand BOI offers privileges based on the location of the business in the Investment Promotion Zones throughout Thailand.
Click here to learn about the new Thailand BOI benefits for application submitted to the Board of Investment starting from 1 January 2015.
Thailand BOI promotion – eligible activities (Information as of January 2016 from www.boi.go.th)
BOI Eligible activities – Section 1 : Agriculture and Agricultural Products, for example fertilisers, plant and animal breeding, forest plantation, deep sea fishery, packing and storing of vegetables and flowers, plant or animal fat, products from natural extracts, rubber, bio fuels, food additives, food supplement and cold storage.
BOI Eligible activities – Section 2: Mining, Ceramics and Basic Metals, for example prospecting minerals, potash mining and dressing, advanced or nano material products, glass and ceramic products, fire resistant materials, heat insulation materials, gypsum, steel, metal powder, ferro alloy, and coil centers.
BOI Eligible activities – Section 3: Light Industry, for example textiles, fabric sports equipment, musical instrument, furniture, toys, jewelry, lens, medical devices, and leather products.
BOI Eligible activities – Section 4: Metal Products, Machinery and Transport Equipment, for example, metal products or parts, surface treatment, machinery, equipment, automobiles, engines and parts, rubber tires, ships, aircrafts, fabrication industry or platform repair for petroleum industry and science equipment.
BOI Eligible activities – Section 5: Electronic Industry and Electrical Appliance, for example, electrical products, electrical equipment for industrial use, electronic products, transmission cable, parts for telecommunication products, printed circuit boards, solar cells, media for hard disk drive, flat panel display, software and E-commerce business.
BOI Eligible activities – Section 6: Chemicals, Paper and Plastics, for example, industrial chemicals, polymers, oil refineries, petrochemicals, plastic products for industrial goods, plastic packaging, recycled plastic products and medicines.
BOI Eligible activities – Section 7: Service and Public Utilities, for example, production of electricity, production of tap water, loading facilities for cargo ships, airports, mass transit system, distribution centers, international headquarters, international trading centers, trade investment support offices, energy service companies, real estate development for industrial use, cloud service, research and development, bio technology related services, engineering designs, scientific laboratories, calibration, sterilisation and waste treatment.
Thailand BOI’s 3 investment promotion zones
1. Twenty provinces with low per capita income: Kalasin, Chaiyaphum, Nakhon Phanom, Nan, Bueng Kan, Buri Ram, Phrae, Maha Sarakham, Mukdahan, Mae Hong Son, Yasothon, Roi Et, Si Sa Ket, Sakhon Nakhon, Sa Kaew, Sukhothai, Surin, Nong Bua Lamphu, Ubon Ratchatani and Amnatcharoen
2. Special economic development zones
3. Science and Technology Parks that are promoted or approved by Thailand Board of Investment.
Criteria for Thailand BOI approval should be considered by investors during the application preparation.