BOI Application in Thailand
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Thailand Board of Investment (BOI) Consulting Services
Thailand stands as a vibrant hub for business, offering a wealth of opportunities for growth and innovation. For foreign investors, the Board of Investment (BOI) plays a pivotal role in making these opportunities even more attractive by providing significant tax incentives, streamlined visa and work permit processes, and the ability to own land.
All-Inclusive
189,000 THB
including government fee
What is the Thailand Board of Investment (BOI)?
BOI stands for Board of Investment – Thailand’s government agency responsible for promoting both local and foreign investment in the country. If you’re wondering “what BOI means” or “what BOI stands for”, it’s essentially Thailand’s investment promotion authority that offers attractive incentives to qualified businesses.
The Thailand BOI was established to accelerate economic development by encouraging investments in strategic sectors. Through various tax incentives, streamlined processes, and ownership privileges, BOI Thailand serves as the gateway for international businesses seeking to establish operations in Southeast Asia’s economic hub.
Is Your Business Eligible for BOI Promotion?
The BOI encourages investment in a diverse array of sectors, all aimed at enhancing Thailand’s economic landscape. While the specific eligibility criteria can be nuanced, generally, businesses falling into these broad categories are often considered for BOI promotion:
Agriculture and Food Processing
Modern farming techniques, food technology, and sustainable agriculture projects.
Bio-Economy, Circular Economy, and Green Economy (BCG)
Projects promoting sustainability, renewable energy, and eco-friendly manufacturing.
Medical and Wellness
Healthcare services, medical device manufacturing, and pharmaceutical production.
High-Value Services
Tourism, logistics, digital services, and research and development (R&D) centers.
Smart Electronics
Advanced electronics manufacturing, robotics, and automation.
Digital Economy
Software development, data centers, and e-commerce platforms.
Targeted Technology and Innovation
Biotechnology, nanotechnology, and advanced materials.
Infrastructure and Utilities
Projects supporting essential services and connectivity.
It’s important to remember that the BOI’s focus is on projects that bring significant economic benefits, introduce new technologies, and contribute to local employment. Our team is here to help you assess your specific business model against the BOI’s current priorities, ensuring you pursue the most advantageous path.
Your Journey to BOI Promotion with Act & Align Advisor
Navigating the BOI application process can seem intricate, but with our expert guidance, it becomes a clear, step-by-step journey. We are dedicated to ensuring your experience is as smooth and successful as possible.
1
The Introductory Meeting: Your First Step Towards Clarity
Before any commitments are made, we invite you to an introductory meeting, completely free of charge. This initial conversation is a valuable opportunity for us to connect and understand your vision. We'll delve into your business model and objectives for launching a new project or business in Thailand. Our goal is to determine if a BOI application aligns beneficially with your aspirations. If we collectively agree on the potential, we will then embark on the project and commence the feasibility study.
2
Feasibility Study: Unveiling Your Project's Potential
During the Feasibility Study, we meticulously analyze your project in depth. This involves evaluating the various BOI categories that could potentially apply to your business model. Should your business or project fulfill the BOI requirements, our next step is to identify the category that offers the maximum merit-based incentives for you. We will then present and discuss these shortlisted categories with the BOI. Only upon receiving their positive feedback do we confidently move on to the full Application process.
3
Preparation & Submission of Application: Crafting Your Compelling Case
Following a successful feasibility assessment, the next crucial phase is the Preparation of BOI Application. This step typically takes 1 - 3 week. During this time, we will provide you with comprehensive templates and checklists to help you prepare a robust business plan and a compelling presentation, ensuring all BOI requirements are met. With your invaluable input, we will then meticulously draft the Application document. Upon completion, we move to the Submission of Application through the BOI E-Platform. At this stage, it's also possible to apply for an Express Visa & Work Permit for Senior-level employees, streamlining the process for your key personnel.
4
The Interview & Evaluation: Articulating and Assessing Your Vision
Once your application is submitted and screened by the BOI, the next significant step is the BOI Interview. This is usually scheduled approximately 10 days after submission. This crucial meeting is an opportunity for you to present your project directly to BOI officers and potentially other BOI Senior committees. With our unwavering support both before and during the interview, we will ensure you are well-prepared to answer all questions with clarity and confidence. If necessary, there might be further clarification requests and/or an additional interview. Following the interview, the process moves to Evaluation by BOI Committee. This comprehensive assessment typically takes 40-90 days after submitting all documents, depending on the overall investment value of your project. This period culminates in the committee's decision: a resolution for approval, re-approval, or non-approval.
5
Notice of Approval & Acceptance: The Green Light for Your Venture
Upon a positive decision from the committee, you will receive a Notice of Approval by BOI, typically within 7 working days after the resolution adoption date. This official letter outlines the terms and conditions for your BOI promotion. Once you receive the Notice of Approval, you have a window of 6 months to formally accept the promotion. This acceptance is the pivotal point that allows you to move forward with establishing or adjusting your company structure under BOI privileges.
Your Journey to BOI Promotion with Act & Align Advisor
After receiving your BOI Notice of Approval and formally accepting it, the path diverges slightly depending on whether you are establishing a new company or integrating the BOI promotion into an existing one. We will guide you through either scenario with precision and care.
Option 1: Establishing a New BOI-Promoted Company
If your plan is to establish a new company to leverage your BOI promotion, we will assist with the incorporation process. A key financial requirement for this option is that 25% of the registered capital needs to be transferred from overseas into the new company’s bank account. This critical step, along with company registration, typically needs to be completed within 6 months after the acceptance of approval from the BOI.
Option 1: Establishing a New BOI-Promoted Company
If your plan is to establish a new company to leverage your BOI promotion, we will assist with the incorporation process. A key financial requirement for this option is that 25% of the registered capital needs to be transferred from overseas into the new company’s bank account. This critical step, along with company registration, typically needs to be completed within 6 months after the acceptance of approval from the BOI.
Receiving Your BOI Certificate & Foreign Business License
Regardless of whether you choose to set up a new company or utilize an existing one, the next step is the issuance of your official BOI Certificate. This typically occurs within 10 working days after submitting the necessary company documents. With this Certificate in hand, your business is officially entitled to enjoy all the merit-based and non-merit-based incentives stipulated. Should your business comprise 51% or more foreign shareholding, we will also guide you through the Application for a Foreign Business License. This process typically takes 4 weeks and is crucial for allowing your foreign-majority-owned company to legally operate in Thailand.
BOI Visa & Work Permit: Streamlined Entry for Your International Team
As a BOI-promoted company, you will be entitled to employ foreign experts underprivileged conditions. These highly valued individuals can either be hired during the application process (before the issuance of the BOI Certificate) or after. We facilitate this process, ensuring your new employees can join your team promptly and seamlessly. It’s important to note that the duration of the BOI Visa and Work Permit (typically 1 or 2 years) will depend on the assessment and discretion of the BOI Single Window system.
The Advantages Await: Unlocking Your Success with BOI Promotion
With BOI promotion, a world of strategic advantages opens for your business in Thailand. We believe in providing you with every opportunity to thrive, and the BOI incentives are designed to do just that. Here’s how these benefits can truly empower your journey:
Significant Tax Incentives
Enjoy valuable exemptions or reductions on corporate income tax, import duties, and even dividends, enhancing your financial resilience and market competitiveness.
Embracing Foreign Ownership
In most cases, BOI certification elegantly facilitates 100% foreign ownership, providing you with full control, even in sectors traditionally restricted.
Streamlined Visa & Work Permits
The BOI process offers a smoother and faster pathway for your foreign staff's visas and work permits, ensuring a seamless transition for your valued personnel.
Empowering Land Ownership
BOI-promoted companies are uniquely positioned to own land, offering your operations a tangible and secure base for growth.
Dedicated Support Services
You are not alone on this journey. The BOI provides invaluable guidance, assistance, and streamlined administrative procedures, and we are here to ensure you navigate these with grace, from setup to ongoing operations.
Enhanced Market Access
BOI-promoted companies often gain preferential access in government procurement and specific industries, providing you with a distinctive advantage in the market.
Your Trusted Partner in Thailand
Ready to explore the advantages of BOI promotion for your business in Thailand? Contact us today for a confidential introductory meeting. We are here to guide you with clarity and expertise, every step of the way.
Contact us
to get personalized guidance and take the first steps toward setting up your entity. We are gladly to support.
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📧 Email: inquiries@actandalignadvisor.com
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