BOI Company Registration in Thailand

Foreign investment is required in order to obtain a BOI registration in Thailand. The investment must be made within 36 months of receiving the promotional certificate. Proof of ownership must be provided for the amount of foreign investment. The minimum amount of capital required for a business is 1 million Thai Baht but it can differ based on what kind of business you’d like to establish.

BOI company registrations offer tax-free benefits

There are a variety of incentives available to foreign investors who want to set up a business in Thailand. Companies that register with the Board of Investment of Thailand (BOI) can benefit from exemptions from corporate income tax, import duties and construction and transportation costs. Tax incentives are also available to certain BOI companies. They can hire foreign employees or transfer foreign currency.

BOIcompany registration in Thailand offers many privileges which include exempting corporations from paying income tax, reduction in tariffs on equipment used in production, tariff-free treatment for imported raw materials, permits to invest in land, the possibility to invite foreign experts, and visa and work permit facilitation. These privileges are available for up to 10 years.

List of prohibited activities by the BOI

Foreign-majority-owned companies are allowed to provide financial services to affiliates under the amended List of activities not permitted by the BOI. This is a change from the previous policy that prevented companies with a promotion from offering the services to affiliates of theirs. This restriction was particularly problematic for foreign-majority-owned companies that want to engage in lending offshore.

While many businesses are banned in the UAE There is a broad range of permitted activities. These activities must be closely linked to the activity endorsed by the BOI and must generate revenue. These activities must generate revenue from the approved business activity in the majority of cases. Other activities that fall into this category include wholesale business, retailing and accountancy. Additionally, the capital for such activities is not more than 100 million Thai bahts. Retailing businesses must have a minimum capital required is THB 20 million (about $600,000). The list of activities on each list is accessible on the BOI website.

Requirements to obtain an BOI promotion certificate

The process of obtaining an BOI promotion certificate for your business is a crucial step to follow to establish an official business entity in Thailand. The BOI provides many advantages such as lower legal fees and speedier processing times. The process of applying for a visa or working permit is made easier by the issuance of a promotion certificate.

First the owner of the business must fill out a form that contains information about the company and its investors. The forms usually range between eight and ten pages and contain a variety of questions. The questions will include information about the company’s investments plans, targets market products, design of the product shareholders, as well as technology transfers. Each section needs to be filled out carefully by the company.

Businesses that are eligible for BOI status

Many advantages accrue to businesses who has applied for BOI status. However, it is essential to select the appropriate category based on the nature of business. BOI registration is beneficial to diverse industries. Some of these industries are mining, agriculture and light industry, metal products, paper and plastics, public services and utilities.

A manufacturing company in Thailand could be eligible for BOI status. This makes hiring foreign workers less difficult and help in attracting top talent.

Cost to register with the BOI

If you’re considering starting a new business in Thailand or trying to expand your existing business, it’s important to join the BOI. This government agency offers numerous incentives and tax breaks to attract foreign investors. For example, companies that join the BOI get a lower rate of corporate tax and import duties. They can also receive tax breaks for expenses like transportation as well as utilities and construction. BOI companies can also be qualified for tax incentives that are not tax-deductible like foreign currency transfers and the bringing in foreign workers.

New companies must invest at least one million Thai bahts to register with the BOI Thailand. This amount of investment can be made through cash or physical assets. In addition to cash, capital investment may include the costs associated with construction and assets used in the company. It cannot include payrolls production, land value or payroll.