Can a company providing R&D activities apply for BOI promotion in Thailand?
Thai companies providing research and development business can apply for BOI promotion. Qualifying R&D activities are defined as follows:-
- Basic research – involves theoretical or operational activities that are conducted to explore new knowledge from basic natural phenomena and factual observation, without initially considering the application.
- Experimental development – involves a systematic operation based on the knowledge from research and/or experience with the objective of producing new materials, products or inventions; to install new procedures, systems and services; or to substantially improve the existing products.
- Applied Science – involves research to explore new knowledge with an objective to put it in practice for specific use.
Interested in getting Thailand BOI, contact ThaiLawyers for application requirements and procedures.