The Thailand Board of Investment (BOI) is a government agency operating directly under the Office of the Prime Minister. Its mandate is to promote inbound investment by offering qualifying businesses a package of tax and non-tax incentives that are not otherwise available under Thai law.
Established under the Investment Promotion Act (as amended by Acts No. 2, 3, and 4), the BOI is focused on three national goals:
- Innovation: building an economy driven by technology, innovation, and creativity
- Competitiveness: building an economy that is adaptive and generates high growth
- Inclusiveness: building an economy that values environmental and social sustainability and reduces inequality
Incentives fall into two main categories: tax incentives and non-tax incentives. The specific package granted depends on the activity group and whether additional merit-based or area-based bonuses apply.
- Corporate income tax (CIT) exemption for 3 to 13 years
- CIT exemption with no cap for top-tier activities (Groups A1+, A1)
- Up to 13 years total CIT exemption with R&D merit incentives
- Import duty exemption on machinery
- Import duty exemption on raw materials used in R&D
- Import duty exemption on raw materials for export production
- Double deduction on transportation, electricity, and water costs
- Additional 25% deduction on facility installation/construction costs
- 50% CIT reduction for 5 years in low-income provinces (Groups A1, A2)
- Permission for full foreign ownership (100%) of a Thai company
- Right to own land in Thailand
- Permission to bring in skilled foreign workers and experts
- Permission to remit profits and foreign currency abroad
- Visa and entry facilitation for foreign personnel studying investment opportunities
- Enhanced visa and work permit facilitation through BOI-promoted status
In order to be qualified for BOI promotion, projects must engage in at least one of the eligible business activities listed by the Board.
Select your industry below for more information:
BCG Industries
Agriculture, food processing, biotechnology, medical devices, pharmaceuticals, future food, plant factories
Advanced Manufacturing
Machinery and vehicles, electrical and electronics, EV components, batteries, precision machinery, aerospace parts, automotive
Basic & Supporting Industries
Metals and materials, chemicals and petrochemicals, public utilities, real estate for industrial use, EV battery service centres
Digital, Creative & High Value Service
Software development, data centers, cloud services, AI, digital platforms, fintech infrastructure, IBC/TISO, R&D, logistics, tourism, creative industries, smart city systems
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.
Confirm that your business activity appears on the BOI’s list of promoted activities and satisfies the applicable criteria. Compile supporting documents: audited financial statements (if any), business history, production process details, machinery list, and relevant compliance evidence.
Submit your application and supporting documents to the BOI. Certain application types (performance improvements, business transfers, and social/local development projects) must be submitted in paper form directly at a BOI office.
The BOI will contact your representative within 10 working days of submission to schedule a project presentation. You will present your business plan and how the project aligns with BOI promotion objectives.
The BOI evaluates your application. Review timelines depend on project size: up to 40 working days for projects valued at THB 200 million or below; up to 60 working days for projects up to THB 2 billion; and up to 90 working days for projects above THB 2 billion.
The BOI notifies you of its decision within 7 days of the resolution date.
The promotion offer must then be formally accepted within 1 month after the BOI accepts the application. However, it is possible to extend this period up to 3 months (1 month at a time).
The Promotion Certificate Application Form must be submitted within 6 months of accepting the promotion has been accepted. The certificate formally activates your rights to the approved incentives and non-tax privileges.
Silk Legal acts as a liaison at each stage of the BOI process, from initial eligibility assessment through to post-approval compliance. Our team has experience advising on BOI applications in the technology, digital assets, fintech, Web3, and several other sectors.
Our BOI services include:
- Eligibility assessment and activity classification
- Structuring the corporate entity and shareholding to optimise BOI eligibility and ownership outcomes
- Preparation of the BOI application and supporting documentation
- Liaising with the BOI on your behalf
- Advising on merit-based and area-based incentive strategies to maximise the CIT exemption period
- Incorporation of the BOI-promoted company and registration with relevant authorities
- Ongoing post-approval compliance advice, including amendment applications and condition monitoring
- Coordination with related regulatory requirements, including work permit facilitation for foreign specialists
