Since the last decade, Thailand has been the biggest manufacturer of hard disk drives. Thailand offers low cost, literate, high quality labour and national infrastructure that facilitates the export market. The big digital companies are now manufacturing their products in Thailand to take advantages of these benefits. Some of the conditions and incentives that could help you are listed below.
BOI Activity 5.4.6 Manufacture of hard disk drive
Conditions:
– The areal density of hard disk drives must not be less than 2,000 gigabits per square inch.
– The cost of refurbishment of existing machines shall be regarded as an investment and will be taken into account in the calculation of corporate income tax exemption cap. The original cost of existing machines shall not be regarded as an investment.
Incentives:
An exemption of corporate tax for 8 years.
Exemption of import duties on machinery
Exemption of import duties on raw materials used in production for export
100% foreign ownership
Permit to own the land
Permit to bring skilled workers and experts into the Kingdom
Get in touch with us so we can help you set up your BOI Company in Thailand.
On 1 February 2018, a new visa was launched in Thailand which is known as the SMART Visa. This Visa was introduced to attract new talents and technologies in order to further develop the targeted industries. The SMART Visa program is designed to enhance Thailand’s attractiveness in drawing science and technology experts, senior executives, investors and start-ups. The SMART Visa focuses investment on the “10-S Curve Industries” or the country’s targeted industry.
The 10-S Curve industries or the targeted industries include:
Next generation automotive
Smart electronics
Affluent, medical and wellness tourism
Agriculture and biotechnology
Food for the future
Automation and robotics
Aviation and logistics
Biofuels and biochemical
Digital
Medical hub
The SMART Visa has five different categories that a person can apply for:
SMART “T” Visa is for highly skilled professionals in the science and technology aiming to work in the targeted industries
SMART “I” for investors in companies using technology in manufacturing or delivering services of being in the targeted industries.
SMART “S” for foreign start-up entrepreneurs who wish to invest in the targets industries in Thailand.
SMART “E” for senior executives working the companies using technology and manufacturing or delivering services and being in the targeted industries.
SMART “O” for spouse and children of SMART visa holders.
In order to be eligible, applicants must obtain a qualification endorsement letter from the SMART Visa Unit. During the process, applicants will also need to go through a technical endorsement screening by the designated agencies after which a letter will be issued by the Thailand Board of Investments which the applicants use in order to apply for their SMART Visa.
The benefits of applying a SMART Visa instead of any other type of visa are:
The visa is valid for 4 years instead of the usual 1 year.
There is no requirement of work permit
Spouse and children will have the same rights as the SMART Visa holder in Thailand (only SMART T Visa allows the dependents to work in Thailand)
Extension of Visa (annual reporting instead of 90 days)
No re-entry permits
To see if you are eligible to apply for Thailand SMART Visa, contact us for initial consultation.
Thailand Investment Promotion for Software Park Business
As the digital way of life has now been touching all corners of the Thai society, the software industry is a very crucial driver for the country’s technological, social and economic development. With a very competitive market, Thailand is a very attractive software investment location for its skilled and affordable workforce, with programmers with a strong suit. If you are planning to invest in a Software Park business in Thailand, then the conditions and incentives below might help you.
Conditions:
Project must have high-speed fibre-optic main communication system throughout the area.
The main telecommunication system must have a high-speed cable from the software park to domestic and international telecommunication centre.
Continuous back-up of electricity supply must be installed.
The total area must not be less than 5,000 square meters.
Incentives to set up a software park in Thailand promoted by the board of investment are:
An 8 year exemption from corporate income tax
Exemption of import duties of machinery such as computers and software
Exemption of import duties on raw materials used in production for export
100% foreign ownership
Permit to own the land
Permit to bring skilled workers and experts to work in Thailand.
For further queries, please feel free to read the Thailand BOI information and contact MSNA to help you with your BOI company registration.
