Board of Investment BOI in Thailand
Business Services
What is the Board of Investment BOI in Thailand?
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Key Things to Consider About BOI Thailand:
The Board of Investment BOI in Thailand revolves around three pillars: innovation, competition, and inclusivity. It aims to drive a tech-driven economy, cultivate competitiveness, and promote social and environmental sustainability for equitable economic development. Check if your business qualify.
BOI Thailand Promoted Activities Overview:
- Agriculture and Agricultural Products:
- Plant or animal breeding
- Economic forest plantation
- Crop drying and silo activities
- Animal husbandry
- Deep-sea fishery
- Grading, packaging, and storage of plants, vegetables, fruits, or flowers
- Manufacturing of biological and organic fertilizers
- Manufacturing of natural extracts from raw materials
- Tanneries and leather finishing
- Mining, Ceramics, and Basic Metals:
- Prospecting of minerals
- Manufacture of glass or ceramic products
- Manufacturing of advanced materials
- Manufacture of steel products and components
- Coil centers for construction materials
- Light Industry:
- Textile product manufacturing
- Manufacture of bags, shoes, and leather products
- Manufacturing of furniture and toys
- Gems and jewelry manufacturing
- Medical devices manufacturing
- Metal Products, Machinery, and Transport Equipment:
- Manufacture of metal products and parts
- Machinery and equipment manufacturing
- Vehicle and vehicle parts manufacturing
- Shipbuilding and ship repair
- Aircraft and aerospace equipment manufacturing
- Electronic Industry and Electric Appliances:
- Manufacture of electrical and electronic products
- Electronics design and software development
- E-commerce and digital services
- Chemicals, Paper, and Plastics:
- Chemical products manufacturing
- Oil refinery and petrochemicals manufacturing
- Plastic products manufacturing
- Paper and pulp manufacturing
- Services and Public Utilities:
- Public utilities and basic services
- Mass transit and logistics service centers
- Trade and investment support services
- Energy service companies (ESCO)
- Real estate development for industrial use
- Technology and Innovation Development:
- Technology development in targeted sectors
- Biotechnology, nanotechnology, and advanced material technology development
- Digital technology development
FAQ
Am I eligible for Board of Investment BOI in Thailand promotion if my business activity involves developing an online platform for P2P payment services between sellers and buyers?
Yes, your online platform business falls under the eligible category for investment promotion as part of activity 5.9 Digital Services. This includes software platforms, managed services, digital architecture design services, and various digital services such as FinTech, DigiTech, MedTech, and AgriTech.
Conditions:
- Projects must employ digital specialists and invest at least 1,000,000 baht, excluding land and working capital costs.
- Digital service processes must be approved by the Board.
- Projects investing 10 million baht or more must obtain ISO 20000 or another quality certification approved by the Ministry of Information and Communication Technology within 2 years of full operation, or face a reduction of corporate income tax exemption by 1 year.
- Revenue from digital service business must be regarded as revenue of the promoted business.
- Approval from the Ministry of Digital Economy and Society is required before applying for investment promotion.
What benefits can my company receive upon successful application for Board of Investment BOI in Thailand?
Upon successful application, your company may receive the following incentives:
Basic Incentives:
- Exemption of corporate income tax
- 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
Non-tax Incentives:
- Additional incentives based on merit, such as those for Competitiveness Enhancement, Decentralization, and Industrial Area Development, which may include further corporate income tax exemptions or reductions.
What are the criteria for foreign shareholding in projects applying for investment promotion?
The BOI Thailand has set the following criteria for foreign shareholding:
- For activities under List One of the Foreign Business Act, B.E. 2542, Thai nationals must hold at least 51% of the registered capital.
- For activities under List Two and List Three, there are no equity restrictions for foreign investors unless specified by other laws.
- The Board may impose foreign shareholding limits for certain activities eligible for investment promotion as deemed appropriate.
What are the criteria for applying for BOI Thailand promotion if my business is in the agricultural sector?
To qualify for BOI Thailand promotion in the agricultural sector, projects must meet the following criteria:
- The project’s value-added must be at least 20% of revenues (10% for agriculture and agricultural products, electronic products and parts, and coil centers).
- Use modern production processes.
- Use new machinery.
- Projects with an investment of 10 million baht or more must obtain ISO 9000 or ISO 14000 certification within 2 years of full operation or face a reduction of corporate income tax exemption by one year.
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