Once promoted by the Thai Board of Investment, the company must follow the conditions as specified in the BOI promotion certificate in order to be granted with tax and non-tax incentives.

For non-tax incentives, the BOI can grant the following:

• Majority or 100% foreign ownership of the company (100% foreign shareholding)
• Right to own the land to operate the promoted business
• Visa and work permit to expat employees
• Exemption of import duty on machinery used for R&D and training services
• Permission for taking out or remitting money overseas in foreign currency
• Permission for foreign nationals to enter Thailand for the purpose of studying investment opportunities

For tax incentives, the Revenue Department provides the following as specified on the BOI promotion certificate:

• Exemption of corporate income tax on the net profit and dividends derived from the promoted activity
• Reduction of personal income tax for expat employees
• Exemption or reduction of import duties on machinery
• Exemption of import duties on materials imported for R&D purposes
• Reduction of import duties for raw or essential materials
• Exemption of import duty on raw or essential materials imported for use in production for export

We at MSNA together with our BOI expert team can guide you to fully understand the BOI incentives that can be granted to your promoted project. We can also assist you in complying with the BOI conditions as specified in your BOI promotion certificate.