Investment promotion by Thailand BOI for Senior/dependent care centers includes many incentives. To receive the promotion, the business must meet the following conditions:
1. The facility must be a senior/dependent care center according to the health business establishments Act.
2. The care center must have no less than 50 beds for services.
3. The care center must provide the senior/dependent persons with care and support by allowing them to stay overnight and offering rehabilitation activities.
4. Thai national shareholders must have at least 51% of registered capital.
5. The care center must receive a license to operate a health business establishment prior to applying for Corporate Income Tax (CIT) exemption.
6. Revenue eligible for CIT exemption must come exclusively from accommodation and senior care services, i.e. activities and food services, etc.
Once promoted by the BOI, Senior/dependent care centers shall be granted with the following incentives:
– Corporate Income Tax exemption for 3 Years.
– Exemption of import duties on machinery.
– Exemption of import duties on raw materials used in R&D.
– Exemption of import duties on raw materials used in production for export.
– Permit to own land
– Permit to bring into the Kingdom skilled workers and experts to work in investment promoted activities
– Permit for foreign nationals to enter the Kingdom for the purpose of studying investment opportunities
– Permit to take out or remit money abroad in foreign currency
When applying for the BOI promotion, it is important to have an expert’s help, not only in doing the BOI application, but also in coordinating with the BOI officers. Consult with ThaiLawyers to know more about the procedures in getting BOI promotion for your eligible business activity in Thailand.