Knowledge about the Applications for Investment Promotion (BOI)

If you have any doubt about how to apply the Applications for Investment Promotion (BOI) including renewing a work permit, work permit extension, what businesses does the BOI promote? and what are the benefits from the investment promotion?
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What are the required documents for the renewal of a work permit for BOI-promoted businesses?

• A letter showing that you are allowed to work under the law.
  - Letter from The Board of Investment of Thailand (BOI) or The Industrial Estate Authority of Thailand (IEAT)
• A certificate of Juristic Person issued by the Department of Business Development, Ministry of Commerce (not more than 6 months)
• Passport / passport substitute, foreign identification card, residence certificate
•  Form for Notice of work permit for foreigners

What are the eligible businesses for the BOI promotion?

The BOI categorizes the eligible businesses for promotion into eight major categories. If your business is in the BOI business categories, you can ask for more information about submitting an ask for promotion.

• Agriculture and Agricultural Products
• Light Industry
• Mining, Ceramics and Basic Metals
• Metal Products, Machinery and Transport Equipment
• Electronic Industry and Electric Appliances
• Chemicals, Paper and Plastics
• Services and Public Utilities
• Technology and Innovation Development

What are the benefits of the BOI promotion business?

• Exemption of coporate income tax up to 8 years
• Eligible foreigners to hold 100% shares
• Eligible to hire foreign craftsmen/experts
• Eligible to be a Land ownership
• Exemption of import duties on raw materials used in R&D
• Exemption of import duties on machinery

Any nationality company conducting business in Thailand can apply for promotion if the company meets the conditions and is approved by the Board of Investment. The company will have the status of "BOI Promotion Company" and received an investment promotion certificate. Also, they will have many benefits such as exemption of corporate income tax up to 8 years, exemption of import duties on machinery, including benefits besides taxes such as permission to own land or allow foreigners to hold shares 100%, etc.

Related Articles:

• What is BOI? Why are Thai and foreign investors interested in doing business in the BOI?
• What are the criteria for hiring foreigners to work with companies in the BOI?
• What are the procedures and documents for applying for working in BOI of foreigners?

Thank you for information from:

• BOI
• OSOS

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