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BOI Promoted Company
All aspects of your BOI Licence Application taken care of – saving you valuable time and resources.
What is a BOI Company in Thailand?
Applying for a BOI Promotion should always be the first option considered when opening a company in Thailand. BOI promoted companies have access to great benefits such as 100% foreign ownership, tax exemptions and relaxed rules for work permits and visas.
• Foreign ownership
Up to 100%.
• Tax Incentives
Corporate Income Tax exemption for some activities.
• Foreign Business License
Possibility to apply for Foreign Business Licenses to do other business activities regulated under the FBA.
• Minimum Capital Requirements
From one million THB paid-up capital (depending on the category and type of project).
• Business Restrictions
Restricted to the business activities for which the BOI Promotion has been obtained.
• Hiring of Foreign employees
No restrictions for foreign skilled employees.
Pricing
FROM
THB 120,000 *
+ 7% VAT
5 business days
(Average time from the moment
we receive complete information from you)
* + Government Fees: THB 8,500
Application handled by a corporate expert.Scope of work
- Preparing and filing documents with the Board of Investment to apply for the desired BOI licence. This includes assisting with the drafting of the required 3 year business plan and project plan.
- Answering questions in relation to the BOI Licence and application process.
- Preparing the client for all aspects of the process including the pitch to BOI Officers.
- Assisting with the international fund transfer, obtaining of the BOI License and Foreign Business Certificate.
- Advising you on the post BOI Licence obtention compliance requirements to ensure the smooth operation of your business.
Need more?
Additional services that you may need as well
What is the process for obtaining a BOI Licence in Thailand?
Be prepared for obtaining your BOI Licence with our comprehensive and free registration checklist.
Be prepared for obtaining your BOI Licence with our comprehensive and free registration checklist.
BOI Eligibility Assessment
Will your application for a BOI Licence be successful or not? Our experts will go through your business plans and let you know your chances of success.
TIMELINE
3 business days
Preparing and filing the BOI application
Our experts will take care of all aspects of the initial application including collecting and preparation of all of the required documents and filling out the application forms.
TIMELINE
1 to 2 weeks
Pitching your project to the BOI
Registration of a Limited Company (or transferring the BOI approval to an existing company), open a bank account and transfer the required minimum capital from abroad and application for the Foreign Business Certificate.
TIMELINE
3 weeks to Register a Limited Company, open the bank account and transfer the funds 2 weeks to obtain the Foreign Business Certificate
Frequently asked questions
Do I need a lawyer to obtain a BOI promotion?
There is no legal requirement to appoint a lawyer to obtain a BOI promotion but it is highly recommended to ensure a smooth process and increase your chances to obtain a BOI promotion. At Belaws, our expert lawyers take a pragmatic approach and will intervene only when it is strictly necessary for savvy clients. This is notably the case with young entrepreneurs applying for eCommerce or software promotion where the fees can start from THB 50,000 for limited assistance.
What is the cost of a BOI company in Thailand?
The cost for assisting you during the whole application process depends on the category of the project and starts from THB 120,000 for the most popular BOI Licenses (BOI software, BOI Ecommerce, BOI TISO) to THB 300,000 (factories and activities required to obtain approval from several authorities). The registration of the company ranges from THB 20,000 (for a 100% foreign or Thai-owned company) to THB 75,000 (mix ownership with specific Articles of Association and a Shareholder Agreement). The monthly fees for proper accounting and tax filing according to international standards will start from THB 3,500 and increase depending on the number of transactions.
What is the minimum capital requirement for a BOI Company?
The minimum capital requirement for a BOI company starts from 1 million THB depending on the type of project and at the discretion of the BOI. At least 25% must be remitted before the issuance of the BOI certificate (a proof of transfer from abroad may be requested for foreign-owned BOI companies). The remaining capital must be paid up within 36 months from the date of issuance of the BOI promotion certificate.
For digital companies such as eCommerce and software, the minimum capital generally requested by the BOI is 1 million THB.
BOI Company vs. Thai Limited Company
A BOI Company gets to enjoy a number of attractive benefits over a traditional Thai Limited Company but this comes with additional scrutiny from official authorities. The key differences are highlighted below:
| BOI COMPANY | THAI LIMITED COMPANY | |
| Foreign ownership | Up to 100% | Limited to less than 50% in most activities |
| Thai to foreign employee ratio | No ratio for foreign skilled employees | 4:1 |
| Corporate income tax rate | Up to 9 years exemption depending on the nature and location of the project | 20% |
| Import of machinery | No tax. | No specific restriction if more than 50% of the capital is held by Thais shareholders |
| Reporting and audits | Regular updates and audit from the BOI Annual accounting audit | Annual accounting audit |
What are the benefits of a BOI Licence?
Aside from specific tax incentives, the most benefits of a BOI promotion is the possibility for foreigners to hold up to 100% of the company’s shares, buy land and facilitation for visas and work permit:
| TAX INCENTIVES
Tax privileges granted by the BOI varies depending on the category and the location of the project |
|
| OTHER INCENTIVES
Other incentives are granted to all BOI project |
|
What business activities are promoted by the BOI?
- Agriculture and Agricultural Products
- Mining, Ceramics and Basic Metals
- Light Industry
- Metal Products, Machinery and Transport Equipment
- Electronic Industry and Electric Appliances
- Chemicals, Paper and Plastics
- Services and Public Utilities
- Technology and Innovation Development
For more information about the Promoted activities, please visit here
What is the BOI looking for when approving Licence applications?
- Promote investment that helps enhance national competitiveness by encouraging R&D, innovation, value creation in the agricultural, industrial and services sectors, SMEs, fair competition and inclusive growth
- Promote activities that are environment-friendly, save energy or use alternative energy to drive balanced and sustainable growth
- Promote clusters to create investment concentration in accordance with regional potential and strengthen value chains
- Promote investment in border provinces in Southern Thailand to help develop the local economy, which will support efforts to enhance security in the area
- Promote special economic development zones, especially in border areas, both inside and outside industrial estates, to create economic connectivity with neighboring countries and to prepare for entry into the ASEAN Economic Community (AEC)
- Promote Thai overseas investment to enhance the competitiveness of Thai businesses and Thailand’s role in the global economy
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Question Before You Begin? *
Question Before You Begin? *
Speak to our expert by scheduling afree call on how to set up a BOI Company in Thailand with Belaws.
(*) This Conversation is intended to provide basic answers to questions you may have about the BOI Promotion. But it is not a Lawyer’s Consultation.
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