Thailand BOI Promotion Process

Thailand BOI promotion process – a brief process that MSNA will walk you through, once you decide that BOI promotion is what you want to do for your business in Thailand.

1. Thailand BOI application: We will work with you closely in preparing the application forms and gathering all the supporting documents. We basically will ask you a lot of questions and fill out the application forms for you. For the forecast and accounting related numbers, we will prepare them and have your approval before we use them in the application.
2. The approved Thailand BOI application will be submited to the Board of Investement Office.
3. Within the next few days, we will confirm with the BOI Office when we can do the presentation of the project for them. They may need us to submit more documents.
4. Within 40 days (40 days for projects of not more than 80 M Thai Baht, 60 days for 80 – 750 M and 90 days for more than 750 M) after all additional documents are received by the BOI, these will happen:

• The BOI will inform us in writing whether they approved the project within 7 working days from the decision date, detailing the conditions, privileges and benefits granted, if approved. The notification of approval will be sent to us with a form of promotion acceptance for us to fill out.
• Upon receipt of the BOI letter approving the project, we must reply by completing the form of promotion acceptance and sending it back to the BOI within one month. If we want to have any changes or special conditions or privileges, we have to request for it at the time.
• In order to receive the investment promotion certificate, we must set up the new company within six months of accepting the approval, and submit all of the following documents to the BOI (all of which we will arrange for you):
– Application form for promotion certificate
– The memorandum of association
– The certificate of business registration
– A certificate stating the registered capital, a list of directors indicating those empowered to bind the company, and the address of the head office
– A list of the shareholders and their nationalities
– A document showing the transfer of funds from overseas, or a certificate of investment from overseas issued by the Bank of Thailand for foreign investors
– A joint venture contract, licensing agreement, technical assistance contract and/or technology transfer contract (if any)
– Form of utility and manpower requirements.

• The BOI will issue the investment promotion certificate after receipt of all specified documents, and the promoted company must follow the conditions laid out in the Certificate.

Note: You can apply for BOI even if your company has already been set up in Thailand.

Read Thailand BOI Company Registration page for the incentives and eligible activities.

Here is information about Thailand Company Registration.