Thailand’s Board of Investment (BOI) is one of the most strategic ways for foreign companies to operate legally and competitively. However, BOI registration is not open to every business or entrepreneur. Understanding BOI eligibility in Thailand is essential if you’re considering entering or expanding in the market under a promoted structure.
This article explains exactly who can apply for BOI promotion, what kinds of businesses qualify under BOI-supported sectors, and what you need to prepare to meet the BOI’s standards. Whether you’re launching a high-tech startup, setting up a regional HQ, or opening a production facility, this guide will help you assess your BOI eligibility and approach the application with confidence.
Understanding the BOI’s Strategic Role
The Board of Investment is more than just an approval authority, it drives Thailand’s economic transformation under the 2023–2027 investment promotion strategy (“Thailand 4.0”). Its primary function is to attract investment into activities aligned with national goals such as sustainability, technological innovation, regional development, and clean energy.
For this reason, BOI eligibility in Thailand is selective. Eligible businesses must align with these priorities and demonstrate tangible value to the Thai economy through job creation, knowledge transfer, high-tech operations, or contributions to national infrastructure.
Who Is Eligible to Apply for BOI Promotion?
BOI registration is open to both Thai nationals and foreigners. A key advantage is that BOI can allow 100% foreign ownership for many activities (subject to other laws). A practical caveat: activities under Foreign Business Act List One must remain majority-Thai (51%), while List Two/Three activities typically have no equity cap unless other laws say otherwise.
Typical eligible applicants include:
Foreign-owned companies seeking full or majority ownership in Thailand
Thai firms expanding into promoted activities or undertaking large investments
Startups building IP, R&D, or technology innovations
SMEs in clean energy, advanced manufacturing, or digital services
Multinationals planning regional headquarters or production hubs
What matters most is that your activity fits a BOI-promoted Section and you meet the financial, technical, and legal conditions.
The Ten Sectors Promoted by the BOI in Thailand
To attract investment that lifts national competitiveness and innovation, Thailand’s BOI uses a categorized framework of promoted activities. These activities are organized into ten groups, each aligned with Thailand’s long-term “Thailand 4.0” vision.
Rather than simply listing fast-growing industries, this activity-based approach targets economic transformation, favoring projects that deliver high impact in sustainability, regional development, technology, and skills transfer.
Think of the list below as ten clear buckets. If your project matches one of these, you’re in the right lane for BOI.
- Agricultural, Food & Biotechnology
Modern farming and food innovation: precision/vertical farming, high-efficiency processing, alternative proteins, bio-based materials and chemicals. The aim is better yields, safer food, and export-ready products. - Medical Industry
High-value health products and services: medical devices and components, pharmaceuticals and APIs, diagnostics, clinical research and quality-standard healthcare facilities. - Machinery & Vehicles
Industrial machinery and automation, robotics, precision parts, automotive and EV components, aerospace parts, smart factory lines, anything that upgrades how things are made. - Electrical & Electronics
Semiconductors and ICs, electronics components and assemblies, smart appliances, power electronics for EVs and renewables. (Network roll-out like 5G sits under “Digital Industry” below.) - Metals & Materials
Sustainable mining and processing, advanced ceramics, specialty metals and engineered materials with an emphasis on cleaner methods and higher-value applications. - Chemicals, Petrochemicals & Plastics
Green chemistry and higher-value polymers: biodegradable plastics, specialty chemicals, sustainable packaging, and pulp/paper with efficient water and energy use. - Public Utilities & Industrial Real Estate
Infrastructure that industry needs to operate: power, water, waste and environmental utilities, data-center-grade facilities, and compliant industrial estates or zones. - Digital Industry
Software, platforms, cloud and data centers, cybersecurity, AI and analytics, smart-city and digital infrastructure (including 5G). - Light Industries
Design-led manufacturing where creativity and functionality drive value, technical/functional fibers, product design and development, sustainable packaging and similar niches. - High-Value Services
Advanced services that lift competitiveness and skills: engineering and design services, testing and labs, selected logistics/tourism sub-sectors, regional headquarters/coordination roles under BOI criteria.
Special Economic Development Zones (SEZs)
SEZs are designated areas created to stimulate growth in underdeveloped regions of Thailand. The BOI offers enhanced incentives for companies that establish operations within SEZs such as longer tax holidays, simplified regulatory approval, and access to upgraded infrastructure. Businesses operating in SEZs are expected to contribute to regional job creation and industrial diversification.
Why This Framework Matters
By organizing promotion into ten groups of activities, Thailand’s BOI targets investment that lifts national competitiveness, prioritizing projects that deliver innovation, sustainability, regional development, skills transfer, and measurable value-add. For foreign investors, this structure brings clarity: if your project fits one of these groups and satisfies the technical and financial criteria, you may access BOI privileges. Those privileges are not automatic and vary by activity, but can include corporate income tax exemptions, import-duty exemptions (machinery, certain raw materials), and non-tax incentives such as permission to own land for the promoted business, facilitation for visas/work permits, and foreign-exchange remittance rights, always subject to other laws (e.g., the Foreign Business Act for shareholding caps in List One activities).
If you’re unsure where your project sits or which incentives are realistic for your activity, SVBL can map your scope to the correct BOI group and flag the conditions you’ll need to meet before approval and during operation (capital injection, Thai staffing/salary thresholds for digital projects, timelines, and reporting).
Industries That Typically Do Not Qualify
As a rule of thumb, the BOI does not promote:
Restaurants, cafés, and standard retail
Conventional real-estate development (e.g., residential/condo projects)
Traditional trading or pure brokerage services
Generic outsourcing with no technology or knowledge transfer
General consulting not tied to innovation or specialized expertise
These activities have limited strategic impact under the current policy. Note, however, that industrial estates/utilities are treated separately (they can be promoted under the utilities/industrial real-estate group), and certain high-value services (e.g., defined logistics, engineering, labs) can qualify only if they meet BOI’s specific conditions. For exclusions, BOI also maintains a formal list of activities not eligible for rights and benefits.
Minimum Investment and Business Requirements for BOI Eligibility in Thailand
Understanding the capital and business structure requirements is essential for any investor seeking BOI eligibility in Thailand. Aligning with a promoted activity is the first step; meeting the financial and operational criteria is what moves a file from “interesting” to “approvable.” BOI promotion is not designed for speculative ventures or under-capitalized startups without a viable plan. The thresholds below exist to ensure promoted projects have the capacity to deliver real economic value.
General Investment Threshold
For most promoted activities, the minimum investment is THB 1,000,000, calculated excluding land and working capital. BOI also expects a sustainable capital structure (for new projects, a maximum 3:1 debt-to-equity ratio is a common benchmark). Many projects invest more than the minimum to qualify for stronger incentives or longer tax holidays.
High-Tech and Innovation-Driven Ventures
There is no universal THB 500,000 capex minimum for “high-tech” projects. In several knowledge-based categories (especially in digital), BOI may replace a capex floor with salary or R&D-based criteria, for example, a required annual spend on qualified Thai personnel. Treat these as activity-specific conditions rather than a blanket rule.
Projects in Special Economic Zones (SEZs)
SEZs are designated locations with enhanced incentives. Any reduced thresholds or additional benefits are zone and activity-specific and stack on top of your main promoted activity. Model the exact SEZ package for your project rather than assuming automatic reductions.
Knowledge-Based and Research-Focused Activities
For software, R&D, scientific services, and similar activities, BOI often evaluates investment based on people and know-how e.g., Thai salary commitments and/or R&D budgets instead of large equipment spend. Your business plan should evidence IP, technical capability, and measurable skills transfer to Thai staff.
Large-Scale Investment Projects
Projects with investment value over THB 2,000 million (excluding land and working capital) must include a feasibility study as part of the application. BOI uses this to confirm financial robustness, execution readiness, and alignment with national development priorities; processing timelines are tiered by investment size once complete documents are lodged.
These thresholds influence which tax and non-tax incentives you’ll actually receive—cross-check the package in Thailand BOI Promotion.
How to Apply for BOI Promotion in Thailand: A Step-by-Step Guide
Once you’ve confirmed eligibility, the application is a structured process with clear milestones. Success comes from filing under the right activity, providing a complete set of documents, and keeping to the official time windows.
Below is a detailed breakdown of what to expect at each stage:
Step 1: Prepare a comprehensive business plan
The foundation of any BOI application is a well-structured business plan. This document must clearly outline exactly which BOI activity you’re applying for, what you will produce or deliver and at what scale, how much you will invest (capex excluding land and working capital), when and how it’s funded, how the process works (key machinery/IT, required standards or EIA), where you will operate and that the premises are ready, who you will hire and how Thai staff gain skills, and the milestones showing how the project advances Thailand 4.0 priorities. Vague, template-style plans stall reviews; specific, evidenced plans move quickly.
Step 2: Apply online
Submit your application and supporting documents through BOI’s online system under the correct promoted activity. An officer will arrange your project presentation within 10 working days of submission. The formal review timeline starts after BOI receives all required documents.
Step 3: Present and clarify
After reviewing your submission, the BOI may invite you to a clarification meeting. This is a formal presentation where you will be asked to defend your business model, explain how your project aligns with BOI priorities, and answer questions from committee members.
Expect to present in front of a panel of 5–6 officers and to address topics such as:
your project timeline
investment breakdown
hiring strategy and Thai staff development
technology transfer and compliance with regulations
This stage is critical. It provides the committee with a qualitative understanding of your project beyond written documentation. Clear communication, solid data, and strategic alignment are essential.
Many companies choose to work with professional advisors or consultants at this stage to refine their messaging, anticipate objections, and ensure their delivery meets formal expectations. Poor preparation at this step can delay or derail an otherwise strong application, so treat it as a decisive moment in the process.
Step 4: Review, decision, and acceptance
After BOI confirms your file is complete, it targets a decision within 40 working days for investments up to 200 million baht, 60 working days for up to 2 billion baht, and 90 working days for more than 2 billion baht. You’ll receive the written result within 7 days of the decision. The decision letter sets out the privileges you’re approved for (e.g., tax and duty incentives, non-tax rights) and the conditions you must meet (timelines, capital injection, hiring/training, compliance milestones).
If approved, you must accept the promotion within 1 month of receiving the notice. Extensions are available on request if you need more time to finalize details. Acceptance confirms you agree to the stated conditions and keeps your approval alive; the promotion certificate itself is issued later, after you file the certificate application (next step). Failure to accept on time can cause the approval to lapse
Step 5: Promotion certificate and after-approval actions
Within 6 months of accepting the promotion, submit your promotion certificate application with any remaining documents (for example, utility and manpower plans). BOI issues the promotion certificate within 10 working days after receiving a complete certificate application.
Once the promotion certificate is issued, your focus shifts to implementation. Activate incentives before you spend, register machinery/raw-material lists pre-import; use BOI channels for land and visa/work-permit facilitation. Hire/train Thai staff per commitments and keep clear records (payroll, imports, production, training). Report progress through BOI e-systems, stay inspection-ready, and seek approval in advance for material changes (location, scope, timeline). If delays arise, request extensions before due dates. Missing conditions can lead to suspension/withdrawal of benefits and possible claw-backs.
Moving from BOI Approval to Strategic Implementation
Once BOI approval is secured, success depends on execution. From legal incorporation and capital injection to operational rollout and compliance reporting, businesses must follow through on every condition outlined in the promotion certificate.
This is where the right legal and strategic guidance matters. At SVBL, we work closely with foreign investors and growing companies to simplify the BOI process, from eligibility checks and proposal drafting to negotiations and post-approval support. Our team ensures that your business is not only approved but also positioned for long-term compliance and success in Thailand.
If you’re exploring BOI registration and want a clear, informed path forward, we’re here to help. Reach out to us to schedule a consultation and take the first step toward building your business under Thailand’s most powerful investment promotion scheme.