BOI Promotion in Thailand

Thailand’s Board of Investment promotes qualifying investment projects. Eligibility is tied to the actual activity and its conditions, rather than simply to having a Thai company, a foreign founder or a business with “technology” in its name.

Use the current activity list and relevant announcements to identify the closest category. Explain what the business will actually produce or deliver, which work happens in Thailand, the process, customers, staff and investment. A broad label such as consulting, e-commerce or software is not enough to establish eligibility.

Ask BOI to clarify the fit before building the financial plan around an incentive. If no category fits, assess the ordinary registration and licensing route rather than relabelling the business to make the application sound eligible.

Possible benefits include specified corporate-income-tax incentives, import-duty treatment and certain non-tax facilities, depending on the activity and approval. The duration, cap, qualifying income and conditions can differ. Some categories receive no corporate-tax holiday.

Do not describe the entire company as “tax free”. Separate promoted and non-promoted activities and ask the accountant how income, costs and assets will be tracked. An incentive is valuable only if the project qualifies, the relevant permission is used correctly and the conditions remain satisfied.

Model a base case without the unapproved benefit and a separate case using the proposed terms. Include the cost of compliance, reporting and professional support. A consultant’s projection is not a BOI decision or a tax ruling.

BOI promotion can support foreign ownership in eligible activities, but it does not remove every ownership restriction. Other laws and activity-specific conditions still matter. Do not use “100% foreign-owned” as a blanket answer for every business the company might later undertake.

Where a promoted foreign business falls within the relevant Foreign Business Act lists, Section 12 provides a Foreign Business Certificate route through notification to DBD. That certificate and the BOI promotion certificate are different records. Ask the adviser to identify the exact activity and required DBD step.

Keep non-promoted revenue-generating activities in the legal review. Promotion for one project does not automatically authorise unrelated retail, service or regulated work. Never use nominee shareholders or fictitious business descriptions to conceal the real ownership or activity.

Application timing can affect what investment, equipment or activity is eligible. Before buying machinery, signing a major implementation contract or starting the project, ask BOI how the applicable measure treats those steps. Do not assume past expenditure can be included retrospectively.

Use the official application channel for the measure concerned. The live e-Investment portal identifies exceptions to its ordinary online route and explains the completeness check. Its current notice allows 30 calendar days to correct returned incomplete or inaccurate information, after which the application can be rejected.

Keep copies of the submitted version, requests and replies. Assign someone to monitor the actual account and deadlines. A consultant saying that an application has been prepared is different from BOI accepting a complete submission for consideration.

Company registration, foreign-business permissions, premises, construction or factory approvals, environmental requirements, product licences, tax registrations and employment compliance can still need separate work. Map them to the actual activity and site before launch.

Facilities for bringing in foreign experts or skilled workers do not mean that every founder, employee or contractor can begin work immediately. Confirm the immigration status, approved role, employer and work-authorisation steps with the responsible bodies before the person starts.

For a site or lease, ask who must obtain each approval and whether the location can legally support the intended operation. Make major commitments conditional on the permissions and project assumptions you actually need.

After an approval, read the resolution and promotion certificate with the people who will run the project. Record the approved activity, location, investment, capacity, implementation milestones, privileges and special conditions relevant to it. Do not leave the certificate solely with the application consultant.

Assign owners for project records, privilege applications, reporting, accounting separation and changes. Before moving, expanding, changing a process or restructuring, ask whether BOI and other authorities need an amendment or notification.

Keep evidence of how the project met its conditions and how benefits were used. The practical question is not just “was promotion granted?” but “can this company support the particular privilege it is claiming now?”