Set Up Your Own Thai BOI Company

Thai companies formed with the government’s Board of Investment are given special status and benefits that make them powerful assets for savvy business owners. We examine the advantages and what it takes to set one up.

When you’re ready to get started, we’re ready to help make owning your own BOI company possible.

Set Up Your Own Thai BOI Company

Thai companies formed with the government’s Board of Investment gain special status & benefits that make them powerful assets for savvy business owners. We examine the advantages and what it takes to set one up.

When you’re ready to get started, we’re ready to help make owning your own BOI company possible.

What is Thailand’s BOI?

What is Thailand’s BOI?

The BOI—or Board of Investment—is a Thai government agency responsible for stimulating economic growth, development, and (you guessed it) investment in the Kingdom of Thailand. In pursuit of these goals, the BOI is equipped with certain powers and authority that it uses to incentivize business and investment activity that it deems particularly vital to the country’s success.

One way it does this is by granting special status to certain companies—referred to as BOI companies—which comes with a variety of significant advantages to the business and its owners.

What is a BOI Company in Thailand?

What is a BOI Company in Thailand?

 

On the surface, a BOI company in Thailand is very similar to a regular company. It’s an entity that’s established and registered with the purpose of conducting legal business in Thailand. But that’s about where the similarities end.

While not all businesses are eligible to register as a BOI company, those that are accepted benefit from a set of privileges. These aren’t just simple perks though. They range from substantial financial benefits to regulatory exemptions that can effectively enable entire business models that otherwise wouldn’t be able to exist in Thailand. Let’s explore.

On the surface, a BOI company in Thailand is very similar to a regular company. It’s an entity that’s established and registered with the purpose of conducting legal business in Thailand. But that’s about where the similarities end.

While not all businesses are eligible to register as a BOI company, those that are accepted benefit from a set of privileges. These aren’t just simple perks though. They range from substantial financial benefits to regulatory exemptions that can effectively enable entire business models that otherwise wouldn’t be able to exist in Thailand. Let’s explore.

Benefits of Owning a BOI Company

  • Exempt from corporate income tax for between 3 – 13 years
  • Lower personal income tax on dividends to shareholders
  • Tax deductions on travel, utilities & construction activities
  • Other potential savings
  • Hire foreigners without concern for the usual 4:1 Thai staff to foreign employees rule
  • Foreign employees can easily obtain visas & work permits for spouses
  • Exempt from corporate income tax for between 3 – 13 years
  • Lower personal income tax on dividends to shareholders
  • Tax deductions on travel, utilities & construction activities
  • Other potential savings
  • Hire foreigners without concern for the usual 4:1 Thai staff to foreign employees rule
  • Foreign employees can easily obtain visas & work permits for spouses
  • Exempt from corporate income tax for between 3 – 13 years
  • Lower personal income tax on dividends to shareholders
  • Tax deductions on travel, utilities & construction activities
  • Other potential savings
  • Hire foreigners without concern for the usual 4:1 Thai staff to foreign employees rule
  • Foreign employees can easily obtain visas & work permits for spouses
  • Permission to own land in Thailand (otherwise impossible)
  • Ability to own 100% of your company & be sole shareholder
  • Your business cannot be nationalized
  • Remit money in foreign currency
  • Machinery imports are exempt from import duty
  • Get reduced import duty or full exemptions on raw materials imported for re-export
  • Import duty is waived on items used for R&D
  • Permission to own land in Thailand (otherwise impossible)
  • Ability to own 100% of your company & be sole shareholder
  • Your business cannot be nationalized
  • Remit money in foreign currency
  • Machinery imports are exempt from import duty
  • Get reduced import duty or full exemptions on raw materials imported for re-export
  • Import duty is waived on items used for R&D
  • Gain additional years of corp. income tax exemption through activities like (but not limited to):
    • Various forms of R&D
    • Donations to certain funds, institutions & gov’t agencies
    • Developing technology IP
  • Gain central access to otherwise disconnected government agencies at the BOI’s One Start One Stop (OSOS) Investment Center
  • Gain additional years of corp. income tax exemption through activities like (but not limited to):
    • Various forms of R&D
    • Donations to certain funds, institutions & gov’t agencies
    • Developing technology IP
  • Gain central access to otherwise disconnected government agencies at the BOI’s One Start One Stop (OSOS) Investment Center
  • Gain visibility through the BOI’s One Start One Stop (OSOS) Investment Center, which guides investors to Thai businesses
  • Benefit from BOI-sponsored promotions that drive business and investors to your company
  • BOI status projects a badge of reliability & trust onto your company
  • Gain a competitive edge in formal bidding processes
  • Gain visibility through the BOI’s One Start One Stop (OSOS) Investment Center, which guides investors to Thai businesses
  • Benefit from BOI-sponsored promotions that drive business and investors to your company
  • BOI status projects a badge of reliability & trust onto your company
  • Gain a competitive edge in formal bidding processes
  • Permission to own land in Thailand (otherwise impossible)
  • Ability to own 100% of your company & be sole shareholder
  • Your business cannot be nationalized
  • Remit money in foreign currency
  • Machinery imports are exempt from import duty
  • Get reduced import duty or full exemptions on raw materials imported for re-export
  • Import duty is waived on items used for R&D
  • Gain additional years of corp. income tax exemption through activities like (but not limited to):
  • Various forms of R&D
  • Donations to certain funds, institutions & gov’t agencies
  • Developing technology IP
  • Gain central access to otherwise disconnected government agencies at the BOI’s One Start One Stop (OSOS) Investment Center
  • Gain visibility through the BOI’s One Start One Stop (OSOS) Investment Center, which guides investors to Thai businesses
  • Benefit from BOI-sponsored promotions that drive business and investors to your company
  • BOI status projects a badge of reliability & trust onto your company
  • Gain a competitive edge in formal bidding processes

The benefits BOI companies have at their disposal are significant and expansive, and there are more than just what’s listed here. If you have a business you believe will qualify to be registered as a BOI company, get in touch with us now.

With a BOI company you gain instant credibility in a commercial sea of competition. Since BOI companies are vetted by the Board of Investment and have a relationship with a known government agency, your BOI company will stand out as a verified organization with implied value, right from the start.

But where the perks really start to make a difference is in areas like ownership structure. Whereas in a normal Thai company foreigners other than Americans cannot be the majority owner—requiring them to find a Thai partner to hold at least 51% of their company—this rule is waived for owners of BOI companies, allowing you to own 100%.

Another key advantage you’ll get with a BOI company is exemption from the usual rule requiring Thai companies to employ 4 Thais for every one foreigner. That’s right. With a regular company you need 4 Thai staff members on payroll before you can issue a single work permit, even if it’s for you as the owner.

That all changes when you have a BOI company. So if you’re a foreign company looking to establish a subsidiary in Thailand and relocate a team of foreign experts you already have, you can do just that—without worrying about needing to add lots of Thai staff to your payroll before you need them. Or if you’re just starting out and you want to pursue a work permit for yourself and your non-Thai partner before you’re large enough to have any Thai employees, you have that option too.

As a BOI company you’ll instantly gain 3 years of corporate income tax exemption, which you can extend to as much as 13 years of tax-free revenue by taking advantage of various merit-based incentives. By donating to certain funds, educational institutes, or government agencies, conducting various forms of R&D, helping develop suppliers or technology talent, and more, you’ll gain additional years of tax exempt status.

With a BOI company you gain instant credibility in a commercial sea of competition. Since BOI companies are vetted by the Board of Investment and have a relationship with a known government agency, your BOI company will stand out as a verified organization with implied value, right from the start.

But where the perks really start to make a difference is in areas like ownership structure. Whereas in a normal Thai company foreigners other than Americans cannot be the majority owner—requiring them to find a Thai partner to hold at least 51% of their company—this rule is waived for owners of BOI companies, allowing you to own 100%.

Another key advantage you’ll get with a BOI company is exemption from the usual rule requiring Thai companies to employ 4 Thais for every one foreigner. That’s right. With a regular company you need 4 Thai staff members on payroll before you can issue a single work permit, even if it’s for you as the owner.

That all changes when you have a BOI company. So if you’re a foreign company looking to establish a subsidiary in Thailand and relocate a team of foreign experts you already have, you can do just that—without worrying about needing to add lots of Thai staff to your payroll before you need them. Or if you’re just starting out and you want to pursue a work permit for yourself and your non-Thai partner before you’re large enough to have any Thai employees, you have that option too.

As a BOI company you’ll instantly gain 3 years of corporate income tax exemption, which you can extend to as much as 13 years of tax-free revenue by taking advantage of various merit-based incentives. By donating to certain funds, educational institutes, or government agencies, conducting various forms of R&D, helping develop suppliers or technology talent, and more, you’ll gain additional years of tax exempt status.

Types of Companies Eligible for BOI Status

There’s of course a reason the BOI offers such strong benefits to qualifying companies—it only wants certain kinds. Unfortunately, many traditional business need not apply. If you own a restaurant, for example, it’s safe to say your business won’t be eligible for BOI status.

These are the official categories of businesses that are eligible for BOI promotion.

 

While this may seem like a somewhat exclusive list, there are a surprising amount of businesses that may actually belong to these 8 categories that you might rule out at first glance.

This is one reason why for something of this level of importance and complexity involving the Thai government and the future of your business, it’s critical to consider working with an experienced legal consultant specializing in Thai business law and BOI relations. At Siam Visa & Business Law, that’s exactly what we do, and we’d be glad to chat with you to figure out if you may in fact qualify. Get in touch with us today.

How to Apply For a Thai BOI Company

The process for applying for a BOI company can be easy if done right and not misunderstood. There are 8 key steps, and knowing what the BOI is looking for can make all the difference in how quickly they proceed and ensuring your application isn’t rejected.

Confirm Business Eligibility

Thoroughly review the eligibility criteria to make sure your business qualifies

Submit Your Application

To apply directly, you need to create an online account.

Project Clarification

Within 10 days of your application, make an appointment with the BOI to clarify your project(s)

Project Analysis

BOI officials analyze your project(s). Processing time depends on amount of investment capital

Obtain Promotion Certificate

The BOI issues your promotion certificate 10 days after receiving your application & documents

Apply for Promotion Certificate

Submit your application for your promotion certificate + supporting documents either online or by mail

Acceptance of Resolutions

You’ll receive the Investment Promotion Resolutions, which must be accepted within 1 month

Notification of Results

Between 40 – 97 days later, you’ll be notified of whether or not you’ve been approved

Confirm Business Eligibility

Thoroughly review the eligibility criteria to make sure your business qualifies

Submit Your Application

Register for an account on www.boi.go.th, then fill out & submit your application

Project Clarification

Within 10 days of your application, make an appointment with the BOI to clarify your project(s)

Project Analysis

BOI officials analyze your project(s). Processing time depends on amount of investment capital

Notification of Results

Between 40 – 97 days later, you’ll be notified of whether or not you’ve been approved

Acceptance of Resolutions

You’ll receive the Investment Promotion Resolutions, which must be accepted within 1 month

Apply for Promotion Certificate

Submit your application for your promotion certificate + supporting documents either online or by mail

Obtain Promotion Certificate

The BOI issues your promotion certificate 10 days after receiving your application & documents

Confirm Business Eligibility

Thoroughly review the eligibility criteria to make sure your business qualifies

Submit Your Application

To apply directly, you need to create an online account.

Project Clarification

Within 10 days of your application, make an appointment with the BOI to clarify your project(s)

Project Analysis

BOI officials analyze your project(s). Processing time depends on amount of investment capital

Notification of Results

Between 40 – 97 days later, you’ll be notified of whether or not you’ve been approved

Acceptance of Resolutions

You’ll receive the Investment Promotion Resolutions, which must be accepted within 1 month

Apply for Promotion Certificate

Submit your application for your promotion certificate + supporting documents either online or by mail

Obtain Promotion Certificate

The BOI issues your promotion certificate 10 days after receiving your application & documents

Get Your Thai BOI Company With SVBL

Most processes that involve pursuing special approval from the Thai government are complicated, lengthy, and easy to misinterpret. Avoidable rejections happen all the time with BOI applications—often after long periods of waiting after submitting. We aim to eliminate that.

We have a long-standing and positive relationship with the BOI, plus years of experience getting applications approved quickly and easily. We know what they’re looking for, how to determine potential eligibility if it’s not immediately clear to you, and how to make sure you put your best foot forward when applying.

What SVBL Can Do For You

Personalized Business Law Consulting

Company Formation & BOI Registration

Legal Ownership Structure & Stock Issuance

Visa & Work Permit Assistance

Personalized Business Law Consulting

Company Formation & BOI Registration

Legal Ownership Structure & Stock Issuance

Visa & Work Permit Assistance

Why Choose SVBL

Thailand has no shortage of people who offer to help with visa and business processes. We formed SVBL because we knew we could offer a higher level of service, a higher level of expertise, and a higher rate of success in everything we offer. We work hard to be able to offer you clear advantages when you trust us with your business.

Over 10 years successfully working with the BOI
Direct knowledge of how the BOI works and what its officials expect
A tailored plan created for you to maximize chances of success
Extensive experience working closely with foreign-owned companies
Proven experience facilitating successful applications with the BOI
One-on-one, personalized consulting at every stage of the process
Eliminate avoidable delays by ensuring an excellent application
Up-front, honest advice you can trust.
Over 10 years successfully working with the BOI
Proven experience facilitating successful applications with the BOI
Direct knowledge of how the BOI works and what its officials expect
One-on-one, personalized consulting at every stage of the process
A tailored plan created for you to maximize chances of success
Eliminate avoidable delays by ensuring an excellent application
Up-front, honest advice you can trust.
Extensive experience working closely with foreign-owned companies

Contact Us

Contact Us