In 1997, the Thai government established the Board of Investment (BOI) to provide investment incentives for both foreign and local entrepreneurs who are interested in investing in the agency's promoted activities.
To do this, investment promotion policies were adjusted in order to attract more businessmen; decentralize Thailand's industrial base and respond to future economic situations.
Thailand BOI has formulated criteria for projects applying for incentives and privileges. These depend on the location of the promoted activities and whether these are priorities or not.
Board of Investment Privileges
Two of the most significant privileges offered by the BOI for promoted projects are:
- Tax privileges such as corporate income tax exemption, tariff exemption or reduction on import machinery and tariff exemption or reduction on import raw material
- Non-Tax privileges such as permission to own land, permission to bring foreign expert to work on the promoted projects, exemption on foreign ownership of companies and exemption from work permit and visa rules.
Board of Investment Non-Tax Privileges
Regardless to locations and activities, Non-Tax privileges are available to all BOI-promoted projects. The BOI helps investors in three ways:
- Reduce the risks associated with investment
- Reduce initial investment costs and to improve the rate of return on investment
- Support services at all times
Sending applications to the Thailand BOI is best done through a Thai law firm as it is a very complex procedure. For more detailed information, please contact us through our numbers listed below. Our staff of local and foreign lawyers will provide you with a detailed information on the subject matter.