What is BOI?  Why are Thai and foreign investors interested in doing business in the BOI?

There are not only Thai and foreign investors who pay more attention to doing business in Thailand than other countries. Thailand has many advantages, whether it is resources, climate, and geography, suitable for being the center of ASEAN especially logistics and transportation by land, by sea, and by air, with many skilled and qualified workers. There are agricultural raw materials with both quantity and quality potential as well as a variety of agricultural products such as rice, rubber, sugarcane, vegetables, and fresh fruit. All of which is enough to create profits and rewards for many for investors who have already invested in Thailand.

Therefore, the government has established The Office of the Board of Investment (BOI) to support and encourage investors who want to do business in Thailand and increase the attractiveness of foreign investors to invest even more.

What is BOI??

BOI stands for The Office of the Board of Investment.

It is a government agency under the Office of the Prime Minister. Its core roles and responsibilities are to support and promote investment in business within BOI to increase potential and competitiveness for Thailand by reduce investment risks and reduce the initial cost of investment and increase return on investment. Helping with consulting and investment services to stimulate the economy and develop the country sustainably including attracting more foreign investors to invest in the country.  The companies that can join the BOI must meet the criteria and meet the conditions of the BOI only.

Learn about investment promotion criteria at https://bit.ly/3dAWDdt

There are 8 categories of business in BOI investment promotion as follows:

See more information at  https://bit.ly/3gZRLAX

There are 8 steps to obtain a BOI.

1. Learn Information

• The BOI applicant can learn information via www.boi.go.th or BOI Central Regional Office, Foreign Office.

2. Submit Investment Promotion Requests (Submit Online Only)

• The BOI applicant submits a request through the e-Investment Promotion System via www.boi.go.th.

3. Explanation of the Project

• The BOI applicant has appointments with BOI officers who responsible for the project to clarify the project within 10 working days from the date of request submission.

4. Project Analysis

• BOI officials analyzed the project by using the consideration period according to the investment size.

5. Notify the Result of Consideration

• BOI officials will notify the result within 7 days from the date of approval of the minutes of the meeting.

6. Accept Investment Promotion Resolution

• The BOI applicant respond to investment promotion resolutions within 1 month from the date of receiving the notification via 2 methods by e-Investment Promotion or submit the BOI resolution (Form F GA CT 07).

7. Obtain a Promotion Certificate

• BOI recipients can submit a request for a "Promotion Certificate" with evidence for consideration within 6 months by 2 ways are fill out the form via e-Investment Promotion www.boi.go.th, or fill out the form to apply for the Promotion Certificate (Form F GA CT 08) and submit the supporting documents.

8. Issue Promotion Certificate

• The BOI staff will issue a "Promotion Certificate" within 10 working days from the date the office receives the Promotion Certificate application form and complete evidence.

The procedures for requesting investment promotion  https://bit.ly/2XXJKUc

Submit through the Investment Support System (e-Investment Promotion)  https://bit.ly/3gV6nBi

Acceptance Form of the Investment Promotion Resolutions F GA CT 07  https://bit.ly/3ctfSUR

Supplementary Form for requesting a Promotion Certificate F GA CT 08  https://bit.ly/303lzqa

What are the benefits of BOI activities?

1. Tax Incentives

• Exemption of Corporate Income Tax up to 13 years (Depending on the type of business and conditions)
• 50% tax deduction for another 5 years (Only for Investment Promotion Zones)
• Exception / Deduction Import duties on machinery
• Exception / Deduction Import duties on raw materials
• Exemption of Import duties for research and development

2. Benefits not related to Taxation

• Foreigners are allowed to hold 100% of shares (except businesses that have other specific laws)
• Permission to hold land ownership
• Allow foreigners who are skilled craftsmen / experts to come to work in Thailand.
• Allow families to follow foreign employees into Thailand (parents, spouses, and children)
• Allow foreigners to send money or transfer money overseas

What are the criteria to approve the project requesting investment promotion?

1. Talent development of competitiveness of the agriculture sector, industrial and service sectors
2. Prevention of environmental quality impacts
3. Have the minimum investment and project feasibility

The procedures to bring a company into BOI is not difficult, you have to be careful and thorough preparation of documents. You have to check the conditions of the business, the criteria and conditions set by the BOI. If the company meets the criteria of BOI and the documents are complete, you can apply immediately. Requesting support from the BOI will help you to receive various benefits that good for your business.

Check the application of the Promotion Investment at https://bit.ly/36Y6CXS

Thank you information from;

• BOI
• Pro Ind Solutions

BOI是什么？为何泰国和外国投资者想在BOI 开展业务？

BOI คืออะไร? เหตุใดนักลงทุนชาวไทยและชาวต่างชาติจึงสนใจทำธุรกิจใน BOI?

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