Why the Thaiger?
There are numerous steps you need to do in order for your business to get BOI certification. We understand that this process can be complicated and time-consuming, but we’ve got you! We offer a smooth and efficient service for your business in Thailand, with years of experience in the application for investment promotion at the BOI.
What is BOI in Thailand?
Thailand has maintained its reputation as a friendly destination for foreign investment. It has even become the centre of commerce in Southeast Asia nations. To further promote foreign investment in the country, the Thai government also established the Thailand Board of Investment in 1997.
The Thailand Board of Investment, or “BOI,” is a government-run organisation that helps promote direct foreign investment in Thailand. It provides investment incentives for both foreign and local entrepreneurs who want to invest in the organisation’s promoted activities. The core roles and responsibilities of BOI Thailand is to promote valuable investment, both Thai overseas investment and investment into Thailand.
BOI Application Process
The general procedure for submitting a BOI Thailand application as outlined in the section below.
Before you apply, you need to have a feasibility study and research of your project. The first stage involves the pre-assessment of your business and project plan. You need to present it to the relevant government offices, as it will give you some insights into whether your BOI application will be successful.
Submit your completed application form and required documents through the Thaiger and our partners. We’ll contact you and help you schedule an appointment for the project to be presented and interview in front of the BOI committee.
Presentation and Evaluation
A written letter will be sent to you outlining the BOI rights, advantages, and conditions that have been given to you. You will also be issued the BOI certificate application form. Make sure to respond within 30 days by filling out the details needed.
BOI Company Registration
In order to receive the BOI investment promotion certificate, you have to set up a Thai company within 6 months of the acceptance approval. There will be more required documents that you have to submit for the registration.
Issuance of BOI Certificate
After you have submitted the additional documents, you’ve completed the registration, you will then be given the investment promotion certificate by the Office of the Board of Investment.
Benefits of BOI Thailand Company
Getting a BOI promotion certificate brings a lot of advantages to your company and your self, companies with a BOI promotion certificate can benefit from the following tax and non-tax incentives, here is a list of benefits that the BOI will grant you:
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BOI-Related Services We Offer
The following are the services included in our BOI Thailand services. You can choose to have all or only one of the services.
You need to have a realistic outlook on the implications and requirements of a BOI investment promotion. We can help you get a realistic outlook by doing a deep analysis of the promotion opportunities for the specific investment you are going to do.
We’ll also explain the advantages and disadvantages of a BOI promotion depending on your specific promotions the government can grant your business.
- Deep analysis of the promotion opportunities for the specific investment you can get.
- Explain the advantages and disadvantages of BOI promotion for your business.
- Help you get a realistic outlook on BOI promotions.
While the BOI application may seem like a straightforward process, it can actually be complicated and requires a lot of preparation. We can support you with the entire application procedure, from preparing the application for BOI investment promotion and supporting documents, to negotiating for the conditions.
We are familiar with the questions that will be asked in the meetings and the conditions that will be offered. Therefore, we can help you create strategies to optimise your investment promotion scope, size, and duration.
- Help you prepare the required documents.
- Assist you in the meeting and presentation in front of the Board.
- Help you negotiate the conditions of the BOI promotion.
Once your business gets approval and you’ve received your BOI investment certification, you may need advanced legal and tax advice and assistance for your BOI promoted company. The Thaiger and our partners can help you with related taxation services.
- Give you legal and tax advice for your BOI promoted company.
- Help you with your cross-border tax planning.
- Help structure the release of customs and import duties.
Working in Thailand comes with a lot of advantages thanks to the BOI investment campaigns.
I used believe that foreigners couldn’t own 100% of Thai companies, but I was completely wrong. I found out about BOI. The Thaiger and their one-stop services make it simple to access a variety of opportunities and support me to get my BOI promotion certificate.
Top tip: There are various opportunities in Thailand to invest and own a successful bussiness for foreigners. All you need is to find the right access and services.
BOI Approval Evaluation
Your business will be evaluated by the Board after you submit the complete documents. The duration for BOI to make the decision to approve is different depending on the investment value.
Investment value of less than 200 million THB
The Board will consider your investment for BOI promotion within 40 working days following your submission of the complete application.
Investment value of more than 200 million THB
Your investment will be considered by the Board within 60 working days following your complete application submission.
Investment value of more than 2 Billion THB
The Board will consider your investment within 90 working days following your submission of the complete application.
Other Related Products
There are other services you may want to check out to ensure you will get full support for your business in Thailand.
Thinking about business investments in Thailand? Let us help you get started with the process.
Tax/VAT registration is essential when setting up your business in Thailand. Register your Tax/VAT through us for a faster and easier process.
Accounting is part of every successful business. Our accounting service can help you calculate and prepare tax returns. Consultancy and advisory, bookkeeping, as well as audit and assurance are also included in the service.
Need to buy a property for your business in Thailand? Partnering with Thailand’s best property portal, FazWaz, we can help you find the right commercial property to suit your needs.
Required Documents for BOI Application
Check out the information below to see what documents are required for BOI application. In addtion, you must attend a presentation and interview session as government officials may want to ask questions and interview you about the project.
General Corporate Documents
The affidavit, Shareholders List, Memorandum of Agreement, and Financial Statement are examples of corporate documents (For established company).
Copy of passport or ID card of the founder of the company.
The business investment plans which include business relation, target market, financial strategy, marketing plan, and environment-friendly policy must be presented.
Present the company’s and its associates’ brochures and information of business framework, type, size, and process.
Applicants have to present the project’s software, hardware, tools, equipment, and machines detail which include origin, amount, and value.
The construction and operation plan includes estimated revenue expenses for the first 3 years.
Every successful business does accounting. However, starting a business while managing your accounts efficiently is difficult. That’s why a company cannot exist or operate without the help of professional accountants. Accountants play a significant role in numerous things, including tax preparation services, auditing, bookkeeping, and consultancy.
Accounting services will assist you in managing and running your company in Thailand, as well as understanding your tax obligations and exemptions, performing financial analysis, tracking expenditures, and being legally compliant with Thai financial filings. You can rest assured that everything is going smoothly and customers are satisfied without dealing with your finances.
Frequently Asked Questions About BOI Thailand Services
Yes, BOI will accept SMEs into consideration as long as your business and investment follow the conditions.
The project should have at least 1 million Bath for minimum capital investment which excluding assets and operating capital costs.
For international shareholding in ventures that qualify for investment promotion, the BOI Thailand has set the condition:
First: Thai nationals shall own shares totalling not less than 51% of the ventures.
Second: there are no ownership limits for foreign investors in ventures unless breaching other laws.
Third: when considered necessary, the Board can set international shareholding limits for some activities eligible for investment promotion.
It is necessary to develop adequate and effective recommendations and policies to protect the environment and reduce pollution on the environment. The site and emissions treatment of a project with possible environmental effects would be given special attention by the Board. Environmental impact assessment reports are also necessary for co-operations above a certain size.
A non-immigrant B visa is necessary to enter Thailand for business purposes (business visa). This gives you legal permission to participate in commercial practices in Thailand, including prospecting for a venture. This visa can be applied for at a Royal Thai Embassy or Consulate in your home country.
The mandatory price for A single-entry visa with a three-month validity will cost 2,000 Baht, while multiple entries with a one-year validity will cost 5,000 Baht.
Agriculture products, services on public utility, chemicals, paper, plastic, ceramic, technology innovation, electronic industry and electric appliances, metal products, machinery, transport equipment, and mining.
Inquire Now to Receive your BOI Thailand Services