As economic and trade exchanges between China and Thailand become more frequent, many Chinese investors are paying attention to investment opportunities in Thailand. Thailand Board of Investment (BOI) is an important government agency that provides tax incentives and facilitates foreign investment. Understanding the BOI application process is essential for Chinese investors. This article provides a step-by-step guide to applying for BOI investment incentives, with the goal of helping investors successfully obtain BOI promotion certificates.
BOI investment incentives benefits
The key benefits of obtaining BOI promotion certificates include 100% foreign ownership of companies, simplified work permit/visa applications for expatriate employees, and preferential corporate tax policies etc. For example, normally companies need to meet certain hiring requirements to apply for work permits. With BOI promotion, the process could be much easier.
BOI eligible business sectors
BOI divides eligible sectors into 8 major categories, including agriculture, light industry, chemicals, machinery & equipment, technology & innovation etc. Each category sets different requirements on minimum capital investment. For example, minimum registered capital for software development projects is 10 million Baht.
Steps to apply for BOI incentives
The key steps are: 1) Determine BOI eligibility based on business sector, capital etc; 2) Prepare proposal and submit application documents; 3) BOI reviews application and issues promotion certificate; 4) Company starts construction & operations per BOI requirements; 5) BOI conducts periodic performance reviews.
The BOI investment app process opens the door for attractive incentives. Understanding policy details and following the step-by-step application procedure will help Chinese investors successfully obtain BOI promotion in Thailand.