The Board of Investment (BOI) is a program helping people to open and operate companies in Thailand for Thai or foreigners. This law was created in 1954 and has since been updated. With a BOI Company, the ownership does not have to be a majority of Thais but can be a 100% foreign owned. In addition, taxes are favorable.
Activities and business categories of BOI companies are:
Agriculture and Agricultural Products
Mining, ceramics and basic metals
Metal products, machinery, and transport equipment
Electronic industry and electronic appliances
Chemicals, paper, and plastics
Services and public utilities
Technology and innovation development
A BOI Company has many advantages:
1. Feasibility Study,
2. BOI application and interview at BOI Headquarters,
3. BOI Approval and acceptance of terms,
– Registration of Thailand BOI Company, (Name Reservation, MOA Registration, Company Registration, Statutory Meeting, VAT and Tax Registration, FBL registration if needed)
After getting the BOI Certificate, companies should also proceed to:
– Get visa and work permit for directors and employees
– Reporting and Compliance to the BOI
– Accounting BOI requirements.
Applying for a BOI company in Thailand can be a complex and challenging process when attempted independently. Firstly, navigating the intricate regulations and legal requirements can be daunting for foreign entrepreneurs, leading to potential errors and delays in the application process. Additionally, understanding the intricacies of various industry sectors eligible for BOI incentives can be a considerable hurdle without the necessary expertise. Mistakes or misinterpretations in the application can result in rejection or a loss of valuable time and resources.
To overcome these hurdles and ensure a smooth and successful BOI company application in Thailand, it is strongly recommended to seek professional consultation. Our team brings a wealth of experience and expertise in helping businesses establish themselves in Thailand. We understand the intricacies of BOI regulations, industry-specific requirements, and the local business landscape. With our guidance, you can streamline the application process, avoid costly mistakes, and maximize the benefits of BOI incentives.
Let us be your trusted partner in turning your business aspirations into reality in Thailand. Contact us today for a consultation and take the first step towards your business success in Thailand.
Share with us your requirements and needs, we will get back to you with a personal and confidential quotation.