We want to setup a Thai company and engage in hotel business. Can we be eligible for BOI promotion? What are the benefits if we got promoted?
Answer:
Yes, you can be eligible for BOI promotion provided that you meet the criteria and conditions set by the Board of Investment. For each hotel that you will build, there must have at least 100 rooms in it. Also, the minimum investment, not including cost of land and working capital, should not be less than Baht 500 million.
Once you got promoted, you can receive BOI privileges depending on your hotel location:
- If it is located in Zone 1, Zone 2, Hat Yai district of Songkhla or Muang district of Chiang Mai, you will be granted only non-tax incentives.
- If it is located in Zone 3, you will receive only an exemption of import duty on machinery and other non-tax privileges.
- If it is located in the provinces of Kalasin, Nakhon Phanom, Narathiwat, Nan, Buri Ram, Pattani, Phayao, Phrae, Maha Sarakham, Yasothon, Yala, Roi Et, Si Sa Ket, Sakon Nakhon, Satun, Surin, Nongbualamphu, Chaiyaphum, Nongkhai, Ubon Ratchatani, Udon Thani and Amnat Charoen, you will receive the rights and benefits according to the BOI Announcement No. 1/2543 dated August 1, 2000.
Interested in getting BOI promotion for your company in Thailand, contact ThaiLawyers for more information.