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:

  1. The company needs only THB 1 M capital/investment.
  1. The company can be owned 100% by foreigners.
  1. 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.)
  1. The promoted company is permitted to own land which is to be used as its location to do software business only.
  1. The promoted company is exempted for the import duty on the machinery (hardware and software.)
  1. 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.
  1. The dividends derived from the promoted activity are also tax exempted.
  1. 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.