BOI Company

Applying for a BOI Promotion should always be the first option considered when opening a company in Thailand.

Companies that have received a BOI promotion are eligible for great benefits such as 100% foreign ownership, tax exemptions (depending on the company’s business activities), and relaxed work permit and visa rules.

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BOI COMPANY
BOI Companies at a glance
100% Foreign Ownership

Companies that have obtained a BOI promotion are eligible for 100% foreign ownership.

Hiring Foreign Employees

One Stop Service Centre for Visas and Work Permits with relaxed criteria for foreign skilled employees.

Incentives

BOI promoted companies are granted special benefits such as tax incentives and the right to own land.

Why work with VB Partners?

Embarking in a business venture in Thailand can be tricky. That’s why VB & Partners is here to help. Our comprehensive range of services covers every step, from initial business feasibility assessments to complete incorporation and running your business operations.

Navigating local laws and regulations is an essential concern for foreign enterprises. Our tailored packages are designed to ensure adherence to legal and local practices. Backed by a team of experts who are familiar with the Thai market and regulations, resulting in the smooth operation of your business.

What does this package include?

  • Reviewing your projects based on the documents and powerpoint presentations prepared by you, 1 BOI meeting rehearsal
  • Attending the online presentation meetings with the BOI and you.
  • Prepare and file an application to the BOI
  • Follow up with the BOI officer throughout the consideration process up to 2 sets of additional questions from the BOI
  • Received notification for approval or disapproval of the application, as the case may be
  • Submit a letter of Acceptance for promoted status on the Company’s behalf approval. 
  • Preparing and filing the BOI application and liaising with the BOI until the issuance of the notification of the application result

Note: The following are outside the scope and are billable in addition


Additional meetings with the BOI requiring our attendance: 8,500 per meetings.
Additional questions from the BOI after the filing of the application: 5,000 per set of answers.
Translation of documents from English to Thai: 1,500 per page.

Icone 2
BOI Company
From
250,000THB
Minimum 1 Million Baht required capital
3 to 6 months
Get Started

Excluding official fees and transportation fees

Price: + 7% VAT

What you must know before applying

Capital Requirements
The BOI requires a minimum of one million THB in capital. However, the exact amount varies depending on the business activity category and the specific type of project. Funds corresponding to the shareholding of foreign investors must be remitted from abroad.
Eligible Business Activities
BOI promotions are only avaiable to companies that undertake specific business activities approved by the BOI.
Foreign Business Certificate
For business activities that are restricted by the Foreign Business Act, a Foreign Business Certificate is required.
BOI Additional Scrutiny
BOI-promoted companies are subject to additional compliance procedures such as progress report filings and special accounting requirements related to their promotion.
Timeline
The process for obtaining a BOI promotion takes from 3 to 6 months in practice. It is crucial to carefully prepare the application and supporting documents to ensure a smooth approval process.
Work Permits and Visa
The foreign applicant can obtain a temporary visa during the application period. Once the BOI certificate is issued, the company must register with the Single Window Visa and Work Permit System to process the visa and work permit applications for foreign skilled employees.

Book a Call with our expert

Up to an hour consultation on the process of starting and running a business in Thailand.

During this session, our lawyer will provide insights into key areas, including company structure, outsourced employment services, taxes, accounting, and other general facets of running a business in Thailand. Additionally, we are here to address any other legal queries you might have, ensuring you have a comprehensive understanding of the topic at hand.

Our responses will be pragmatic, breaking down both the legal aspects and local practices in a manner that’s easy to grasp.

Should your questions require additional research, our experts will delve deeper and follow up with further insights via email.

This consultation is offered by legal experts fluent in English, French, or Thai.

Book a Call with our lawyer
VB & Partners, BOI Visa, Open a company in thailand, work permit in thailand, PEO service, representative ofice

Frequently Asked Question

What is the BOI?

Thailand’s Board of Investment is a special government agency that focuses on promoting foreign investment within Thailand. A BOI promotion removes many barriers to doing business in Thailand, such as the restrictions of the Foreign Business Act.

Furthermore, the BOI provides the following incentives for qualifying projects that could provide significant advantages for qualifying companies.

What are the benefits of obtaining a BOI Promotion for your company?

A BOI promotion offers advantages such as 100% foreign ownership, tax incentives (only available to certain business activities), simplified visa procedures, and additional privileges, which are not available to ordinary companies. These benefits can significantly expedite market entry and provide an advantageous setting for conducting business in Thailand.

What is BOI approval?

BOI approval refers to the recognition and endorsement granted by Thailand’s Board of Investment to qualifying businesses. This approval provides access to special incentives and privileges designed to attract foreign investments and promote economic growth.

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