Belaws Thailand
  • thailand
  • legal
    • Legal
      • All Legal services
      • Urgent. Same day advice
      • Immediate legal consultation
      • Document Review
    • Our expertise
      • Employment Law
      • Merger & Acquisitions
      • Restructuring & Insolvency
      • Banking & Finance
      • Real Estate
      • Startups Services
      • Blockchain Expertise
      • Energy, Mining & Infrastructure
      • Intellectual Property
      • Tax Expertise
      • Telecommunication, Media & Technology
      • Commercial Transactions
      • Family Law
      • Download your free copy of our guide, 'Starting a Business in Thailand for Foreigners,' featuring essential insights for successfully establishing a business in Thailand.
  • incorporation
    • Incorporation
      • All Incorporation services
      • Business feasibility check
      • Market research
      • Entry strategy
    • Companies type
      • BOI Company
      • Limited company
      • Branch Office
      • Representative Office
      • U.S Treaty of Amity company
      • Startups Services
    • Business Licenses
      • Foreign Business License
      • E-commerce License
      • Factory License
      • Important License
      • Restaurant License
      • See all Licences
  • Accounting & secretary
    • accounting & secretary
      • All Accounting & Secretary services
      • Urgent. Same day advice
      • Immediate consultation
      • Document review
    • corporate
      • Draft minutes
      • Changing directors
      • Share transfer
      • Registered address change
      • Capital increase
      • Meetings AGM
      • Meetings (EGM)
      • Closing a company
    • Legalisation
      • Notarisation and legalisation
      • Translation document
    • accounting
      • Bookkeeping & tax filings
      • Annual audit
      • Payroll
      • Payroll outsourcing
      • Tax
      • VAT Registration
      • Corporate Income Tax
      • Personal income tax
  • Corporate
    • accounting & secretary
      • All Accounting & Secretary services
      • Urgent. Same day advice
      • Immediate consultation
      • Document review
    • corporate
      • Draft minutes
      • Changing directors
      • Share transfer
      • Registered address change
      • Capital increase
      • Meetings (AGM)
      • Meetings (EGM)
      • Close a company
      • Translation document
      • Notarisation & Translations
      • Notarisation & Legalisation
      • Translation documents
    • accounting
      • Bookkeeping & tax filings
      • Annual audit
      • Payroll
      • Payroll outsourcing
      • Tax
      • VAT Registration
      • Corporate Income Tax
      • Personal Income Tax
  • visas
    • visas
      • All Visas services
      • Urgent. Same day advice
      • Document review
      • Immediate Visa consultation
    • live in thailand
      • Thailand LTR Visa
      • Thailand Elite Visa
      • Retirement Visa
      • Marriage visa
      • Change your visa type
      • See all visa options
    • work in thailand
      • PEO services
      • Non immigrant B Visa
      • Work Permit
      • BOI Visa & Work Permit
      • Change your visa type
  • BLOG
  • CONTACT
    • fr_FRFrançais
    • en_USEnglish
  • Menu Menu
  • INCORPORATION
  • LEGAL
  • ACCOUNTING & SECRETARY
  • VISAS
  • Blog
  • IMMEDIATE CONSULTATION
  •  
  • en_USEnglish
  • fr_FRFrançais
Belaws Home ›› Thailand ›› Blog ›› Exploring BOI Promotions for the Digital Industry in Thailand

legal

Exploring BOI Promotions for the Digital Industry in Thailand

25/05/2023

Thailand has made itself an attractive option for companies in the digital industry due to the availability of receiving a promotion from the Thailand Board of Investments (BOI). Promotions from the BOI come with many desirable benefits, such as 100% foreign ownership, tax breaks, and relaxed restrictions for obtaining work permits for foreign workers. 

Another appealing feature of the BOI promotion for digital industry/software development companies is the low application and audit requirements. You only need an initial capital deposit of 1.5 million THB, and there is no strong audit during the first years of operation.

Opening a Shop in Thailand
<a href="https://www.freepik.com/free-vector/business-people-working-laptop-development_4332351.htm#query=software%20industry&position=39&from_view=search&track=ais">Image by katemangostar</a> on Freepik

Key points

  • Promotions from the BOI come with many highly attractive benefits, such as 100% foreign ownership, tax breaks, and relaxed restrictions for obtaining work permits for foreign workers. 
  • To qualify for a BOI promotion in the digital industry, the company’s business activities must involve at least one of the following: software development, digital platforms, or digital content creation.
  • Companies that qualify for a BOI promotion for Digital Industry are eligible for the following tax incentives: An exemption on corporate income tax (for eight years), import duties on machinery, raw materials used in R&D, and production for export.
  • The minimum investment for a qualifying project must not be less than 1,500,000 THB per year.

What is the BOI?

Thailand’s Board of Investment (BOI) is a special government agency that promotes foreign investment within Thailand. A BOI promotion removes many barriers to doing business in Thailand, such as the restrictions of the Foreign Business Act.

More detailed information relating to the Foreign Business Act can be found here.

Furthermore, the BOI also provides the following incentives for qualifying projects:

  • 100% foreign ownership of a company.
  • Reduced requirements for supporting work permits, i.e., no quotas for hiring foreigners.
  • The ability to own land.
  • Tax benefits such as income tax exemptions for a fixed period. Please note that tax incentives depend on specific promotions and are not available to all.

What business activities are eligible for BOI promotion for the digital industry?

To qualify for a BOI promotion in this area, the company’s business activities must fall within one of the groups below.

  • Software Development: BOI promotions often include software development activities that contribute to the digital economy. This can include developing custom software, mobile applications, web development, software-as-a-service (SaaS) platforms, and other digital solutions.
  • Digital Platforms: Examples of digital platforms include; Online Marketplace Platforms, e.g., retail, freelancing, real estate, or other specialized marketplaces. Digital Content Distribution Platforms that distribute and monetize digital content such as movies, music, e-books, digital art, or other forms of multimedia. Collaboration and Communication Platforms enable teams or individuals to collaborate, communicate, and share information remotely. Online Learning and EdTech Platforms that facilitate remote learning and skill development through digital technologies.
  • Digital Content Creation: BOI promotions may support digital content creation, including animation, game development, multimedia production, virtual reality (VR), augmented reality (AR), and other creative digital media services.

What incentives are available for a BOI promotion for the digital industry?

Companies that qualify for a BOI promotion for Digital Industry are eligible for the following incentives:

Non-tax incentives:

  • 100% foreign ownership,
  • Permit to own land, 
  • Ability to hire skilled workers and experts to work in investment-promoted activities with no restrictions, 
  • Permit to take our or remit money abroad in foreign currency.

Tax Incentives:

  • Exemption of corporate income tax for eight years
  • Exemption of import duties on machinery
  • Exemption of import duties on raw materials used in R&D
  • Exemption of import duties on raw materials used in production for export.

What conditions apply to eligible companies?

  1. The minimum investment of each project must not be less than 1,500,000 baht per year. Qualifying investment is based on the expenditure on salaries for employees.
  2. The project must undertake a business activity involving software, digital platforms, or digital content creation in Thailand.
  3. The corporate income tax exemption is capped at 100 percent of the actual expenditure in the year of application. Expenditure includes the following:
  • The amount spent on salaries for Thai information technology personnel who are newly hired exceeds the salaries spent on Thai information technology personnel employed before the application submission date for investment promotion.
  • Expenditure on the information technology development-related training course to develop the employee’s skills.
  • Expenditure spent on obtaining certificates such as ISO 29110 or CMMI from Level 2 or other equivalent international standards.

How can Belaws help?

For more information about BOI promotions in Thailand, why not talk to one of our experts now?

Talk to an expert

If you want to learn more about how our experts can help with your accounting and secretary needs, please click here. For more details about our incorporation services, please click here. 

This article is for information purposes only and does not constitute legal advice.

Share this post
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on LinkedIn
  • Share by Mail
Immediate Consultation
Book now

Our consultations last for a period of up to 1 hour and are conducted by expert Lawyers who are fluent in English, French and Thai.

Consultations can be hosted via WhatsApp or Video Conferencing software for your convenience. A consultation with one of our legal experts is undoubtedly the best way to get all the information you need and answer any questions you may have about your new business or project.

USD 150

Up to 1 hour

Online payment (Paypal or Credit card)

Legal consultation can be conducted in English, French or Thai

Legal consultations are handled by experienced lawyers from the relevant fields of practice

Frequently asked questions

Can I get a job in Thailand as a foreigner?

Foreign individuals in Thailand can get a job, but they need to hold a Non-Immigrant B (Business Visa) and a Work Permit.

Is it hard for a foreigner to get a job in Thailand?

It is possible for foreigners to get a job in Thailand, but they must comply with the specific rules and regulations regarding employment for foreigners.

Can I go to Thailand and find a job?

It is possible to go to Thailand and find a job, but foreigners must follow the legal requirements and obtain the appropriate visas and work permits.

What kind of jobs can foreigners do in Thailand without a work permit?

Foreigners are generally prohibited from working without a valid work permit in Thailand.

Related articles

SMART Startup Visa (visa SMART S) : Le meilleur visa pour les entrepreneurs en Thaïlande ?

Smart startup visa, the best Visa for entrepreneurs in Thailand?

02/12/2021
Thailand’s economy has begun to diversify and we can now see a wide variety of both well-established companies and startups in the technology industry.
December 2, 2021/by bertrand_admin_belaws
Sponsored Work Permit in Thailand

Sponsored Work Permit in Thailand

15/06/2022
Sponsored Work Permits in Thailand provide employee management services and administrative assistance.
June 15, 2022/by jonathan
Thailand is considering a new Labor law for Work-from-Home arrangements

Thailand is considering a new Labor law for Work-from-Home arrangements

23/08/2022
The Thai parliament has recently passed the first reading of the so-called Work-from-home Bill, which seeks to amend the country’s Labour Protection Act (LPA).
August 23, 2022/by jonathan

Subscribe today

Subscribe today

To our newsletter for all the latest legal news
in South East Asia, Belaws updates and
special promotions on our services.

To our newsletter today for all the latest legal news in South East Asia,
Belaws updates and special promotions on our services.

+66 (0) 63 695 5945

We are open:
Monday – Friday
9 am – 6 pm (UTC+7)

Email us

SERVICES

Legal

Incorporation

Accounting & Secretary

Visas

Immediate ConsultationNew

COMPANY

About

Careers

Press & Media

Terms of Services

Privacy Policy

Sitemap

Resources

Belaws Thailand Blog

Facebook Thai Visa Belaws

Ebook on Condo purchase

Ebook Employment Law

Our Offices

Thailand

Singapore

Hong Kong

Cambodia

Vietnam

Belaws 2017 - 2025.
Belaws provides information and software only. Belaws is not a "lawyer referral service" and does not provide legal service or participate in any legal representation.
Belaws is not a law firm or a substitute for an attorney or a law firm. The use of Belaws is subject to our Terms of Use.

What kind of jobs can foreigners do in Thailand? What jobs can foreigners do in Thailand?Image by katemangostar on Freepik Taking A Look At Thailand’s New Draft AI RegulationImage by macrovector on Freepik Taking A Look At Thailand’s New Draft AI Regulation
Scroll to top