If you will be doing consulting business, you may be eligible for Thailand BOI promotion under the activity “Trade and Investment Support Offices (TISO)”. The scope of activity covers advisory services on business operations except those engaged in buying and selling securities, foreign currency exchange, accounting, legal, advertising, and architectural and civil engineering businesses.
The main condition for this activity is that the company’s annual selling and administrative expenses must be at least 10 million Baht. Note that the direct costs of your services, for example, the salaries of the consultants who provide the company’s services to clients, are not part of the selling and administrative expenses. Your Thai accountant who knows how to fill out a corporate income tax return should be able to tell what expenses are considered to be in this group. MSNA group, which is a local Thai accounting firm with years of experience in helping foreign businesses obtain a BOI certificate, may be a great help in this area.
Although you cannot get tax exemption under this activity, you can still be granted with non-tax incentives which are as follows:
- more visa and work permits for foreign employees to work in your BOI promoted company
- privilege to own land to be used for operating the BOI promoted activity
- can be allowed to take out or remit money abroad in foreign currency
Contact MSNA group for getting BOI promotion, company registration, visa and work permits.