The Thailand Board of Investment (“BOI”) is an agency formed by the Thai government tasked with promoting foreign investment into the Kingdom. It does so by incentivizing qualified investors with several benefits and providing information to facilitate a smoother investment process in Thailand. The Board operates directly under the Prime Minister’s Office.
The incentives provided by the BOI can split into two main categories: tax and non-tax incentives. The former consists of several exemptions and/or reductions in taxes for certain amounts of time, depending on the prospective applicant’s business activities. The latter consists of privileges that are not normally afforded to foreign investors, including full foreign ownership of a corporate entity and permission to own land in the Kingdom.
The process of applying for BOI promotion is complex and involves a bureaucratic process of compiling paperwork and other documents deemed necessary by the Board. It is recommended that those interested in applying for BOI promotion seek out an experienced law firm to facilitate the application.
In order to be qualified for BOI promotion, projects must engage in at least one of the eligible business activities listed by the Board. These include: