The Thai Board of Investment (BOI) provides both Thai and foreign investors opportunity to obtain investment promotion for a variety of businesses under applicable policies and criteria. Those businesses under the BOI promotion will be receive incentives depending on their business activities and merits to the country.

TISO

Currently, Trade and Investment Support Office (TISO) is a promoted business activity (category 7.7) on the BOI promotion list. To apply for TISO, the business must meet the two main conditions:

1. Annual sales and administrative expenses must be at least 10 million baht.

2. The business plan and scope of business must be one of the followings:

2.1 Monitoring and/or servicing associated enterprises including providing or letting office or factory building to company’s associated enterprises

2.2 Advisory services on business operations, except those engaged in buying and selling securities and foreign currency exchange. Accounting, legal, advertising, architecture and civil engineering businesses must obtain business licenses from the Department of Business Development or related government agencies prior to submitting the investment promotion application

2.3 Information services on goods sourcing.

2.4 Engineering and technical services, except those related to architecture and civil engineering services.

2.5 Business activities related to machinery, engines, tools and equipment, such as: – Importing for wholesaling – Training services – Installation, maintenance and repair – Calibration

2.6 Wholesaling products manufactured in Thailand.

2.7 International business process outsourcing whose services are provided through telecommunication networks, such as administrative services, finance & accounting services, human resource services, sales & marketing services, customer services, data processing, etc.

Incentives

The incentives for TISO cover only the non-tax incentives. That is to say, the business under this category will receive no corporate income tax exemption.

Regarding to aforesaid fact, this type of promotion will mainly benefit foreign investors. With these non-tax incentives the promoted business will receive:

• Permission to own land;
• Permission to take out or remit money abroad in foreign currency;
• Permission to bring in skilled workers and experts to work in investment promoted activities; and ultimately
• Permission for 100% foreign ownership of the promoted business.

If you are interested in setting up your business in Thailand, we highly suggest you to get an experienced agent like MSNA Group to assist you, to deal with the complicated process of business set up and make a plan for your next move.

Contact MSNA Group for your business need in Thailand. 

Over the past five years, not only the number of companies under the BOI investment promotion has significantly grown, but also the number of foreign expatriates working with those companies. It is clear that a work permit to be granted under the BOI investment promotion is one of the channels for a foreigner to stay and work in Thailand.

However, the fact is people, from time to time, change their employer due to many factors: job incentives, salary, position, etc.

To change employer from a BOI-promoted-company to another, the following steps are for an employee holding a work permit under BOI to take.

Step 1. Suitability and compatibility

Similar to applying for a work permit in the first place, for changing employer, such foreign employee must be well-suit for the new position in the new company with supporting biographic, education background, work experiences and qualifications.

Step 2. Approval of position in the Single Window System

Unless the company has an available approved position in their Single Window System, the company will have to get its new position to be approved by the BOI by uploading all required document as well as providing position details namely: position title, scope of work, qualification for the position and work duration, and so on, into the system.

Step 3. Removing the employee from the existing position

The current employer then has to remove the employee from the existing position as well as to cancel the current work permit and visa via the Single Window system. The work permit holder should make sure that the current employer will process the cancellation of his work permit and Visa in a way that it will take effect not less than 15 days from the day they submit the notification online. This way, the new employer will have enough time to process the new work permit.

Step 4. Application for the placement in to the new position with the new employer

Since the employee can use his/her existing Non-Immigrant “B” visa to get a new work permit under the BOI promoted business of the new employer, the process from this step will be similar to applying for a work permit under a BOI company the first time. Pursuant to the approval of the Step 3, the new employer will have to submit all necessary documents through the Single Window system (such as bio data form, a copy of passport and a copy of certificate of the employee, etc.

Step 5. One Stop Service Center and Digital Work Permit

Upon the approval of step 4, the employee will go to One-Stop Service Center to pick up his Work Permit and extend his Permit of Stay to a longer term.

The keys of the success of changing employers are timing and precision. If any of the steps falls behind the schedule or is done incorrectly, the employee’s visa will expire before the placement is done causing him to leave Thailand and, once again, to apply for a new Non-Immigration “B” visa. This is why you need an expert like MSNA Group to assist you with each step. Contact MSNA Group for your business needs in Thailand.