Register Your Company in Thailand Smoothly & Worry-Free

BOI Promoted Company

Start your BOI company without unnecessary hassle. We can review your business activities, advise on the BOI promoted category under which you may be eligible to receive promotion, and assist you with the application process from start to finish.

What is BOI?

In 1997, the Thai government established the The Office of the Board of Investment (BOI) with the intention to provide investment incentives for both foreign and local entrepreneurs who are interested in investing in the agency’s promoted activities. Apart from offering incentives to attract more investments, the BOI also sought to decentralise Thailand’s industrial base and help build foundations for nurturing local skill development in attractive industries. A company promoted by this government body is referred to as a “BOI company”.

Overview of a BOI Company

Foreign Ownership

Up to 100%

Capital Requirements

1 million THB paid up capital (or higher depending on the nature of the project)

Tax Rate

Regular progressive corporate income tax rates apply (unless the company receives tax incentives for corporate income tax exemption)

Foreign Business License

Eligible for the Foreign Business License upon issuance of the BOI certificate

Business Restrictions

Restricted to the business for which investment promotion is granted

Registration Duration

3–4 months before a BOI certificate is issued

BOI Promoted Activities

In order to be eligible for investment promotion by the Thai Board of Investment, your business activity will have to fall under one of the following categories:

Agriculture and agricultural products

Mining, ceramics and basic metals

Metal products, machinery and transport equipment

Electronic industry and electric appliances

Chemicals, paper and plastics

Services and public utilities

Light industry

The above list is further broken down into several smaller business activities, mainly involving manufacturing, design, development and technology transfer to Thailand, and can be found here.

In addition to the promoted business categories, another useful resource for self-assessment of one’s eligibility for promotion is consulting the BOI’s investment promotion policies (a list of policies set in place to ensure achievement of the BOI’s vision of Thailand’s economical, social and environmental development):

BOI Investment Promotion Policies

  1. 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
  2. Promote activities that are environment-friendly, save energy or use alternative energy to drive balanced and sustainable growth
  3. Promote clusters to create investment concentration in accordance with regional potential and strengthen value chains
  4. Promote investment in border provinces in Southern Thailand to help develop the local economy, which will support efforts to enhance security in the area
  5. 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)
  6. Promote Thai overseas investment to enhance the competitiveness of Thai businesses and Thailand’s role in the global economy

Benefits of BOI Promotion in Thailand

Contrary to the general regulations and taxation schemes which apply to limited companies in Thailand, companies promoted by the Thai Board of Investment are eligible to several tax and non-tax incentives, such as complete or majority foreign ownership and, at the same time, permission for the foreign company to own land!

Tax Incentives

Tax privileges granted under the BOI promotion in Thailand include but are not limited to:
  • Corporate income tax exemption for a certain number of years
  • Exemption or reduction of import duties on machinery, raw materials and/or essential materials
  • Exemption or reduction of taxes on dividends payable to shareholders
  • Deductions from the costs of transportation, electricity and water supply, and on the cost of installation or construction of facilities

Non-Tax Incentives

Non-tax privileges granted under the BOI promotion in Thailand include but are not limited to:
  • 100% foreign ownership
  • Permission to bring in foreign skilled workers and experts where their visas and work permits can be processed within a day at the BOI One Stop Service Centre for Visas and Work Permits
  • Permission to own land
  • Permission to remit money abroad in foreign currency
  • Protection against nationalization of the business

BOI Promotion Application Process

The BOI promotion application process generally consists of three stages, each taking place at a different department (The Board of Investment, Department of Business Development and One Start One Stop Investment Centre for Visas and Work Permits).

Step 1: The Board of Investment

  • Preparation of the application for investment promotion
  • Interview with officials, presenting the business plan
  • Project evaluation by the responsible authorities
  • Receiving BOI certificate once the company is formed

Step 2: Department of Business Development

  • Name reservation
  • Incorporation of the company
  • Receiving BOI promoted status and certificate

Step 3: One Start One Stop Investment Centre

  • Visa and Work Permit

We can guide you through the entire process and assist you in preparing the application, drawing up necessary business plans for submission based on your envisaged activities, accompanying you at the interview with the BOI officials after the application has been submitted, and support you until the last step of collecting the BOI investment promotional certificate from the BOI office in Thailand.

BOI Company vs Thai Limited Company

As previously mentioned, a BOI company gets to enjoy a number of attractive benefits over its Thai limited company counterpart. Basic differences in several key areas are highlighted below:

BOI Company Thai Limited Company
Thai to foreign employee ratio Relaxed, can be negotiated 4 : 1
Corporate income tax rate As little as 0% 20%
Foreign ownership As much as 100% Limited to no more than 49%
Import of machinery No tax VAT tax
Ongoing requirements BOI update form submissions On-site inspections from Immigration
Registration duration Six weeks and longer One week or less

Client Testimonials

A Few Words from Our Satisfied Clients

Eric Monteil

Art Consulting (Thailand) Co., Ltd..
I am the managing director of Art Consulting Thailand, a company promoted by the Board of Investment of Thailand (BOI). Simi was in charge to proceed the registration of my company and all related admin tasks such as dealing with BOI, issue work permit and visa, etc. I would say it's a great experience to work with such a professional like Simi. She explain clearly the process and she does what she says in time without any extra cost. All is very clear and there is no trick. Additionally, Simi's fees are very affordable, she is a nice person, focuses on your business issues and find the right and fastest way to go through. I highly recommend services from Umpire legal provided by Simi and her kind and professional colleagues.

Chris Puype

Empyrean Solutions APAC Co., Ltd.
We have been using the services of Umpire legal to incorporate the company in Thailand with certification of the Board of Investment. I found Umpire Legal to be very responsive and clear about the difficult and time consuming process. They helped us through multiple interactive sessions to ensure that all questions were adequately addressed. They really provided expert assistance!

Some of the Companies We Helped Register

Safe Business Structure as a Stepping Stone for Your Success

Gain peace of mind knowing that your business is set up on sound legal foundations and with your best interest in heart.

We will help you select the most suitable structure

Direct and fast communication with English-speaking lawyers

No hidden costs and surprises

Support and advice throughout the whole process

Start Your Business in Thailand the Right Way

Do you have more questions about BOI Promoted Company?
Contact us, we are here to help.

Umpire Legal

Legal & Business Services for Corporates, Startups and Entrepreneurs

Our Office

Umpire Legal Co., Ltd.
246 Times Square Building, Unit 405
4th Floor, Sukhumvit Road (12-14)
Khlongtoey, Bangkok 10110 Thailand

© 2018 Umpire Legal Co., Ltd. | Created by BOLD Digital

Our Office

Umpire Legal Co., Ltd.
246 Times Square Building, Unit 405
4th Floor, Sukhumvit Road (12-14)
Khlongtoey, Bangkok 10110 Thailand

(+66) 098 932 3008
(+66) 02 2541608-9

Umpire Legal
Legal & Business Services for Corporates, Startups and Entrepreneurs
© 2018 Umpire Legal Co., Ltd. | Created by BOLD Digital