If your business is software related, BOI is the best way to set up your business in Thailand.
The BOI promoted company has the following advantages:
- The company needs only THB 1 M capital/investment.
- The company can be owned 100% by foreigners.
- The company can get more work permits for its foreign technicians or experts than non-BOI companies. (Normally, a non-BOI company needs to have at least THB 2M capital for each work permit and must hire 4 Thai employees for each work permit it is getting.)
- The promoted company is permitted to own land which is to be used as its location to do software business only.
- The promoted company is exempted for the import duty on the machinery (hardware and software.)
- The promoted company is exempted for corporate income tax on the net profit generated from the promoted activity for a period of 8 years as from the date it starts to generate such income.
- The dividends derived from the promoted activity are also tax exempted.
- The promoted company is allowed to transfer money to overseas in foreign currency.
Read Thailand BOI information and contact MSNA for consultation on getting BOI for your software business.