What is the BOI?
The BOI (Board of Investment) is an agency created by the Thai government to provide investment benefits and appeal to foreign or local investors that invest in activities or industries which seem beneficial for the Kingdom.

What are BOI benefits?
Key investment benefits provided by the BOI range from:

• Exemption from Thai profit taxes.
• Exemption from or reduction of import taxes duties on both machinery and raw/essential materials imported.
• Deduction of transportation, electricity and water costs deduction of project’s infrastructure installation.

Non tax privileges range from:

• Foreign ownership of the business.
• Legal landownership (for industrial related project only).
• One stop work permits.
• One stop visas.

Is BOI subjected to conditions?
You will have to exchange documentations and reports with the BOI.
This mean that you will have to:

• Implement every promise you made in your BOI application and
• Match the conditions the BOI has subjected your license to.

For the whole duration of your investment, you will be under the BOI supervision and you will have to notify the BOI or file application for permissions at many stages of your investment.
The BOI will keep himself informed of your business to insure that you match the conditions of your promotion.

Do you need to be worried about the Revenue Department?
Many foreign investors think because they were granted taxes privileges by the BOI they do not need to worry about the Revenue Department. This is not true you are still bound to all general accounting and bookkeeping requirements as defined by the Revenue Code except for the explicit benefits given by the BOI.

How can I get the most benefits out of my BOI application?
The amount and types of benefits that you may receive will depend of how well your investment fit the government targets. If you invest into an activity which is seems priority for the country’s economic then you will receive maximum benefits.
To the contrary if you invest into a non priority activity you will receive the minimum benefits only.
In order to assure you get the most out of your investment please do not hesitate to contact our professional team of Thai lawyers and international law specialists who will take a good care of your case.