BOI

BOI Thailand Services

To support international business expansion and investment, the Board of Investment (BOI) offers a comprehensive range of services to meet the diverse needs of investors.

• Provide guidance and detailed information on investment opportunities, including applicable rules and regulations for BOI investments.
• Connect investors with relevant government and private sector entities to streamline business operations, including company registration and work permit applications
• Assist in establishing industrial connections and identifying local suppliers.
• Facilitate the identification and recognition of international experts and researchers in science and technology through the BOI Strategic Talent Center (STC).
• Provide advice on overseas investment opportunities and conduct training sessions for Thai investors.

BOI Thailand’s Vision

The Board of Investment (BOI) in Thailand is actively working to attract foreign investment. The BOI aims to strengthen the Thai economy by prioritizing innovation, competitiveness, and inclusive growth.

• Innovation – Aim for an economy fueled by technology, innovation, and creativity.
• Competition – Strive for an economy that’s competitive, adaptive, and capable of high growth.
• Inclusivity – Build an economy that prioritizes environmental and social sustainability, opens up opportunities, and reduces inequality.

BOI Thailand Benefits

The Board of Investment (BOI) in Thailand offers significant incentives to businesses that invest in priority sectors such as research, technology, and other activities that contribute to national development. These incentives may include tax breaks and the ability to hire foreign experts. Businesses operating in eligible industries and undertaking BOI-promoted activities may qualify for these benefits.

Tax Incentives from the BOI:

• Exemption/reduction of import duties on machinery
• Reduction of import duties for raw or essential materials
• Exemption of import duties on materials imported for R&D purposes
• Exemption of corporate income tax on the net profit and dividends derived from the promoted activity
• A 50 percent reduction of the corporate income tax
• Double deduction from the costs of transportation, electricity, and water supply
• Additional 25 percent deduction on the costs of installation or construction of facilities
• Exemption of import duty on raw or essential materials imported for use in production for export

Non-Tax Incentives from the BOI:

• Permission for foreign nationals to enter the country for the purpose of studying investment opportunities 
• Permission to employ foreign skilled employees and experts
• Permission to own land
• Permission to remit money abroad in a foreign currency

What is the BOI Application Process?

1. Preparing for the Thailand BOI Application Process

The first thing you should do is examine the BOI’s criteria for promotion to see if your planned business is eligible for promotion. You can find this information on the BOI’s website or at their physical location.

This information is dense with a good deal of legal language, so it may be better to go over the BOI’s requirements with your lawyer to ensure you have a good grasp of the information.

2. Submit Application for Investment Promotion

If you are certain you are eligible for promotion, submit the completed online application with the necessary documents (see below) via the BOI Thailand e-service portal.

3. Scheduling Your Presentation

Within 10 business days following the application’s submission, the BOI office will make contact to arrange a meeting in which you will present your project and undergo an interview with the BOI committee.

4. Presenting Your Project and Evaluation by the BOI

In this meeting, you will showcase your business idea to the Board and make your case as to why you should receive promotion. Following your presentation, BOI officers will assess your presentation, and provide you with the Board’s decision after some time. The time it will take for you to get an answer depends on the investment amount (how much money you are putting into this business and industry) as follows:

• For investments under 200 million THB, the review for BOI endorsement takes up to 40 working days after a complete application is accepted.
• For investments under 2 billion THB, a subcommittee’s review for BOI approval occurs within 60 working days after a full application is submitted.
• For investments above 2 billion THB, a subcommittee’s evaluation is required, and the consideration time is 90 working days after all the required documents are completely submitted.

5. Notification of Approval

The BOI will notify you in writing whether your application is successful within 7 days from the resolution certifying date. This notification will detail the conditions, privileges, and benefits awarded. It also includes the form necessary to acquire the BOI certificate.

6. Promotion Acceptance

You must acknowledge the consideration results within 1 month from the date of resolution notification by submitting your promotion acceptance forms via the online portal.

7. Promotion Certificate Application

Once you have accepted the promotion, you will need to gather and submit additional paperwork to receive your BOI promotion certificate, which will provide your company with the many benefits mentioned above.

You must submit your promotion certificate application forms (see below) within 6 months from the submission date of the promotion acceptance forms. This is also typically done through the online portal.

8. Promotion Certificate Issued

The BOI will issue the operation start-up certificate within 10 working days from the date that you submit the full set of required documents.