Thailand established a special economic zone called the Eastern Economic Corridor in the Eastern Seaboard. The Eastern Economic Corridor (“EEC”) provides generous tax and non-tax incentives for investors looking to invest in Chonburi, Rayong, or Chachoengsao. Benefits vary depending on which targeted industry an investment project is involved in, and can include a 50% reduction of corporate income taxes for 2 years; exemptions on import tariffs for machinery, raw materials, and research; as well as permission to own land.
The Office of the Board of Investment has opened applications for EEC benefits until the last working day of 2021. Given the bureaucracy and paperwork involved, it is crucial for investors looking to establish business in the eastern seaboard to consult legal experts who specialize in these matters to ensure the application process is done right the first time. Contact Silk Legal to help you with the process.
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