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,
– Light industry
– Metal products, machinery, and transport equipment,
– Electronic industry and electronic appliances,
– Chemicals, paper, and plastics,
– Services and public utilities,
– Technology and innovation development.
Why set up a BOI company?
A BOI Company has many advantages:
– 100 % Foreign Ownership is permitted,
– Can issue work permit and visa for the worker and his family,
– 0 % Tax,
– Foreigners can own land.
BOI Companies are very easy to handle, less hurdles. Nonetheless, BOI Certification is adapted for large investors looking to establish in Thailand. Private legal team will assist you in finding the best solution to open your company and save you time and money. The procedure for BOI can be complicated and lengthy.
3 steps are mandatory to complete the BOI Registration:
– Feasibility Study,
– BOI application and interview at BOI Headquarters,
– 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.