Thailand BOI Program

Many businesses are excited about the latest BOI promotion, which offers various incentives and benefits for investing in Thailand. Stay tuned for more details.

Thailand’s BOI offers incentives to attract foreign investors, creating numerous opportunities for economic development. The policy mainly includes tax exemptions, land ownership and other non-fiscal incentives.

BOI Promotion

So what is BOI promotion? BOI promotion includes preferential policies from the Thailand Board of Investment to attract foreign investors and enhance economic development. These measures feature tax incentives, such as income tax and imported raw material exemptions, along with non-tax benefits like land ownership and investment support. Recipients also gain access to the smart visa program, permitting foreigners to stay in Thailand for 2 to 4 years without a work permit. Moreover, BOI offers investors a one-stop service to expedite the approval and registration of investment projects.

Another unique feature of BOI promotion is that it allows you to obtain promotion before you set up your company. This proactive approach enables you to formulate your application based on a well-thought-out business plan, budget and project proposal.

BOI targets computer chip investments

Thailand’s Board of Investment (BOI) seeks to enhance investment in computer chips to support the expanding electric vehicle (EV) industry, in line with the government’s plan for a national semiconductor committee. Narit Therdsteerasukdi, BOI’s secretary general, emphasized that growing foreign investment is strengthening Thailand’s domestic EV manufacturing and that related sectors, such as semiconductors, smart electronics, and circuit boards, also need support.

Increasing investment in computer chips will not only help enhance Thailand’s position in the electric vehicle industry chain, but also promote domestic technological innovation and industrial upgrading.

China has always supported countries in formulating appropriate development strategies based on their national conditions. Simultaneously, China is actively promoting the development of new energy vehicles and integrated circuit industries, aligning with its Made in China 2025 strategy and green development goals. China looks forward to collaborating with Thailand and other countries to foster the prosperity and sustainable development of the global electric vehicle industry.

Business plan

Obtaining BOI certification in Thailand is a strong endorsement for the company. Let me explain to you in detail how to do it.

First, Wellion will conduct a comprehensive assessment of your business plan and the feasibility of your project. This step is crucial because it determines whether your plan meets the BOI’s standards and can be approved.

Second, if the feasibility is optimistic, we will proceed to the next step and need to go through the full application process, which usually takes 3 to 4 months. Detailed documents such as financial forecasts, market analysis reports and detailed business plans need to be prepared.

Third, once your application materials are ready, we will submit them to the BOI for review and handle all subsequent communications. We ensure that all information required by the BOI is provided to you in a timely manner to facilitate the smooth approval process.

Finally, once your materials are reviewed and approved by the BOI, if you have not registered your company, you will have six months to start the project, complete the company setup, obtain the necessary resources and start operations.

Get the advantages of BOI promotion

Obtaining BOI promotion can bring a range of benefits to your business plan, helping your business operations in Thailand to operate better.

Advantages include:

1. Tax incentives: Depending on the nature of your business, you can enjoy a maximum of 8 years of corporate tax exemption; when calculating taxable income, your transportation fees, electricity fees and taxes can be deducted twice; and your infrastructure-related expenses will also be deducted additionally. In terms of import tariffs, imported machinery and raw materials used to produce export goods will not be subject to import tariffs.

2. Non-tax incentives: Unlike other foreign investors, investors who receive BOI funding can own land for commercial operations. And obtain smart visas, which allow investors, executives and technical workers to stay in Thailand for 2 to 4 years without a work permit, thus simplifying long-term residence and employment.

3. Enhanced employment opportunities: Enterprises promoted by BOI usually enjoy government-level support and recognition, which not only helps the company’s operations in the local market, but also enhances the company’s overall reputation and credibility.

Obtaining BOI promotion is a strong endorsement for enterprises, which will help their long-term development and success in the market. However, the specific preferential policies and support measures vary from country to country, so enterprises should understand the relevant policies and conditions in detail before applying for BOI promotion.

As a professional business consultant focusing on the Thai market, Wellion provides you with the necessary assistance. By working with Wellion, you can more effectively understand Thailand’s business regulations, tax policies, and how to maximize the use of BOI incentives, thereby accelerating your business development in the Thai market.