1. Submit application form with required documents, either online or hard copy.
2. Book presentation appointment within 10 days of submitting form and documents.
3. Waiting periods based on investment value, excluding cost of land and working capital:
< 200 million baht investment value. Within 40 days.
> 200 million to 2 billion baht investment value. Within 60 days.
> 2 billion baht investment value. Within 90 days.
4. Submit promotion acceptance form within one month of notification, either online or hard copy.
5. Submit company establishment form within six months of approval, either online or hard copy.
Following BOI approval, you must take these actions to receive your certificate:
1. Submit these documents:
2. Set up the company within six months. If this is not attainable, you can request a one month extension up to three times.
3. Any discrepancies regarding the certificate must be resolved with the BOI before proceeding with commercial activities.
1. Allows foreigners to run 100% foreign-owned businesses in Thailand.
2. Promotes investments in Thailand by providing information, services and incentives.
3. Operates directly under the Prime Minister’s Office, with the Prime Minister acting as the chairman.
4. Promulgates investment promotion policies under the Investment Promotion Act B.E. 2520 (1977) and Official Announcements.
5. Does not officially grant business licenses for investors to operate a businesses in Thailand but rather industry-specific investment incentives, such as:
|Thai Company||BOI Company|
|Thai-foreigner staff ratio||4:1||Flexible*|
|Tax||20%||Varies between industries|
|Maximum foreign ownership||49%||100%|
|Tax on machinery imports||VAT rate||0%|
|Ongoing requirements||Immigration inspections||BOI update form submissions|
*Industries that prohibit 100% foreign ownership: agriculture, mining, motorcycle manufacturing, and international trading.
Tax incentives vary by industry and include exemptions on import duties, shareholder dividends and overheads.
Non-tax incentives include 100% foreign ownership, approval of work permits and business visas and foreign ownership of land.
The BOI’s investment promotion policies focus on:
Your business must be categorized under one of the eight eligible industries, or supportive of one (see TISOs), in order to be eligible for BOI promotion. Each of the eight approved industries is further divided into ‘divisions’. Furthermore, each industry is defined by conditions and has its own incentives, both of which are complex and change constantly. The eligible industries are:
A Trade and Investment Support Office, or TISO, is a recognized BOI category that is eligible for B2 incentives. B2 incentives include exemption of import duties on raw materials used in production for export and non-tax incentives.
TISOs cover a broad range of activities that are supportive of other businesses, including: