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.
Companies that have obtained a BOI promotion are eligible for 100% foreign ownership.
One Stop Service Centre for Visas and Work Permits with relaxed criteria for foreign skilled employees.
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.
What you must know before applying
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.
Frequently Asked Question
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.
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.
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.