BOI Companies
BOI Promoted Companies
Board of Investment provides incentives and privileges for promoted companies, including 100% foreign ownership, the right to own land, and tax reductions. Contact us to find out more.
The Thailand Board of Investment (BOI), established in 1966 under the Office of the Prime Minister, is Thailand’s premier agency for promoting foreign and domestic investment. Designed to drive economic growth and innovation, the BOI offers a robust package of incentives to businesses in targeted industries, fostering a competitive and business-friendly environment. By aligning investments with Thailand’s economic goals, such as advancing technology and sustainable development, the BOI helps companies thrive while contributing to the nation’s progress. At Formichella & Sritawat, we specialize in guiding clients through the BOI application process to maximize these benefits.
BOI Privileges for Promoted Companies
The BOI provides a comprehensive set of tax and non-tax incentives to eligible businesses, tailored to their industry, investment size, and location. These privileges enhance profitability and operational flexibility, making Thailand an attractive investment destination. Key privileges include:
Tax Incentives
- Corporate Income Tax Exemption: Up to 8 years for net profits and dividends from promoted activities, with extended exemptions (up to 15 years) for high-tech industries or projects in the Eastern Economic Corridor (EEC).
- Import Duty Exemptions/Reductions: On machinery, raw materials for export production, and materials for research and development (R&D).
- Double Deduction: For costs of transportation, electricity, and water supply, reducing operational expenses.
Non-Tax Incentives
- 100% Foreign Ownership: Exemption from Thailand’s Foreign Business Act restrictions, allowing full ownership in eligible sectors (except restricted areas like communications or banking).
- Land Ownership: Permission for foreign entities to own land for promoted activities, a rare privilege in Thailand.
- Visa and Work Permit Facilitation: Streamlined processes to bring in foreign experts and skilled workers, with exemptions from certain work permit requirements.
- Export Privileges: Permission to export products without restrictions, supporting global market access
Eligible Industry and Criteria
The BOI targets industries critical to Thailand’s “new economy,” including:
- BCG Industries: Agriculture, food, biotechnology, and medical.
- Advanced Manufacturing: Automotive, aerospace, electronics, and robotics.
- Digital and Creative Industries: Software, digital technology, and high-value services like logistics and tourism.
- Basic and Supporting Industries: Minerals, chemicals, and industrial real estate.
To qualify, businesses must align with BOI’s promoted activities, demonstrate technological or economic contributions, and meet minimum investment thresholds (e.g., 1 million THB, excluding land and working capital). Projects in the EEC may want to look at the EEC Promotion as an alternative. Also certain low-income provinces may receive enhanced incentives.