{"id":9173,"date":"2023-12-15T02:55:29","date_gmt":"2023-12-15T02:55:29","guid":{"rendered":"https:\/\/vbapartners.com\/?p=9173"},"modified":"2024-12-10T06:45:16","modified_gmt":"2024-12-10T06:45:16","slug":"boi-business-activities-eligible","status":"publish","type":"post","link":"https:\/\/vbapartners.com\/th\/boi-business-activities-eligible\/","title":{"rendered":"BOI Business Activities Eligible for a Promotion in Thailand in 2024"},"content":{"rendered":"<h2 class=\"wp-block-heading\">Introduction<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Board of Investment in Thailand is a government agency aiming to attract highly skilled foreign companies to invest in Thailand and boost specially selected high-value areas of the economy. To achieve this, the BOI offers a range of incentives to foreign investors, including <a href=\"https:\/\/vbapartners.com\/foreign-ownership-of-businesses-in-thailand\/\" data-type=\"post\" data-id=\"8297\">100% foreign ownership<\/a>, tax incentives for certain activities, simplified processes for hiring employees and obtaining work permits, and more. These incentives offer significant advantages and are not available to regular companies in Thailand.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To qualify for a BOI promotion, your business must operate in one of the targeted industries identified by the Thai government. This article will explore the eligible BOI business activities available to prospective companies.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-group Keypoints has-white-color has-text-color has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"background-color:#35a692\">\n<h3 class=\"wp-block-heading\">Key Points<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A BOI promotion removes many barriers to business in Thailand for eligible companies.<\/li>\n\n\n\n<li>Companies approved for a BOI promotion are eligible for special incentives such as 100% foreign ownership, tax incentives (depending on the promotion), and reduced requirements to support work permits.<\/li>\n\n\n\n<li>BOI promotions are only offered to companies that operate in specific areas of business activities identified by the BOI.<\/li>\n<\/ul>\n<\/div>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><strong><strong>What is the BOI?<\/strong><\/strong><\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Checking whether your business is eligible for a BOI promotion is always our first recommendation when starting a business in Thailand. A BOI promotion offers eligible companies significant advantages for operating their business in Thailand, such as 100% foreign ownership and removing many barriers to doing business in Thailand, such as the restrictions of the Foreign Business Act.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">More detailed information on restricted business activities and the Foreign Business Act can be found <a href=\"https:\/\/vbapartners.com\/doing-business-in-thailand-restricted-activities\/\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To attract foreign investment, the BOI provides valuable incentives for qualifying projects unavailable to regular companies:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>100% foreign ownership<\/li>\n\n\n\n<li>Tax Incentives (Depending on the promotion awarded by the BOI\/<\/li>\n\n\n\n<li>Reduced requirements for hiring foreign staff<\/li>\n\n\n\n<li>Permit to own land<\/li>\n\n\n\n<li>Streamlined visa and work permit processes&nbsp;<\/li>\n\n\n\n<li>Permit to remit money abroad in foreign currency<\/li>\n<\/ul>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><strong>What business activities are eligible for a BOI promotion?<\/strong><\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Board of Investment (BOI) of Thailand supports businesses that invest in specific targeted industries identified by the government. To be eligible for BOI support, a business must operate in one of the following industries:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Agriculture and food<\/li>\n\n\n\n<li>Manufacturing<\/li>\n\n\n\n<li>Digital and technology<\/li>\n\n\n\n<li>Tourism and services<\/li>\n\n\n\n<li>Other high-value industries<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><br>The following list is a more detailed breakdown of the business activities in which companies may be eligible to receive a promotion (please note each activity may be subject to certain conditions and requirements from the BOI):<\/p>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong>Digital &amp; Creative Industries<\/strong><\/summary>\n<p class=\"wp-block-paragraph\">The following activities are eligible for a BOI promotion as Digital and Creative Industry activities.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Development of software, digital platforms or digital content&nbsp;<\/li>\n\n\n\n<li>Digital Infrastructure&nbsp;<\/li>\n\n\n\n<li>Digital ecosystem-supported business<\/li>\n\n\n\n<li>Thai motion picture production&nbsp;<\/li>\n\n\n\n<li>Motion picture support services&nbsp;<\/li>\n\n\n\n<li>Industrial zone for motion picture production (Movie Town)<\/li>\n<\/ul>\n<\/details>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong><strong>Tourism Industry<\/strong><\/strong><\/summary>\n<p class=\"wp-block-paragraph\">The following activities are eligible for a BOI promotion as Tourism Industry activities.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Tourism promotion services, e.g., amusement parks, zoos, and Thai cultural centers.<\/li>\n\n\n\n<li>Activities to support tourism, e.g., Hotels, convention halls, and international exhibition centers<\/li>\n<\/ul>\n<\/details>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong><strong><strong>Agriculture, Food, and Biotechnology Industries<\/strong><\/strong><\/strong><\/summary>\n<p class=\"wp-block-paragraph\">The following activities are eligible for a BOI promotion as Agriculture, Food, and Biotechnology Industry activities.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Plant or animal breeding (only those that are not eligible for biotechnology activity)<\/li>\n\n\n\n<li>Crop dying and silo facilities<\/li>\n\n\n\n<li>Animal propagation or animal husbandry<\/li>\n\n\n\n<li>Slaughtering<\/li>\n\n\n\n<li>Deep sea fishery<\/li>\n\n\n\n<li>Grading, packaging and storage of plants, vegetables, fruits or flowers<\/li>\n\n\n\n<li>Cold storage, or cold storage and cold storage transportation<\/li>\n\n\n\n<li>Trading center for agricultural goods<\/li>\n\n\n\n<li>Tanneries or leather finishing<\/li>\n\n\n\n<li>Manufacturing of the following:\n<ul class=\"wp-block-list\">\n<li>biological fertilizers, organic fertilizer, nano-coated organo-chemical fertilizer, and bio-pesticides<\/li>\n\n\n\n<li>modified starch or starch made from plants that have special properties<\/li>\n\n\n\n<li>oil or fat from plants or animals<\/li>\n\n\n\n<li>natural extracts or products from natural extracts<\/li>\n\n\n\n<li>active ingredients from natural raw materials<\/li>\n\n\n\n<li>natural rubber products (except for rubber bands, rubber balloons and rubber rings)<\/li>\n\n\n\n<li>products from agricultural by-products or agricultural waste (except for those with uncomplicated production processes, eg drying or dehydration)<\/li>\n\n\n\n<li>fuel from agricultural products, including agricultural scrap or garbage or waste<\/li>\n\n\n\n<li>preservation of food, beverages, food additives or food ingredients using modern technology<\/li>\n\n\n\n<li>medical food or food supplements<\/li>\n\n\n\n<li>animal feed production and animal food ingredients<\/li>\n\n\n\n<li>modern agricultural products or services related to modern agriculture<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/details>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong><strong><strong><strong>Medical Industry<\/strong><\/strong><\/strong><\/strong><\/summary>\n<p class=\"wp-block-paragraph\">The following activities are eligible for a BOI promotion as Medical Industry activities<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Manufacture of medical products<\/li>\n\n\n\n<li>Medical and health care services&nbsp;<\/li>\n\n\n\n<li>Specialty medical center<\/li>\n\n\n\n<li>Health care services<\/li>\n\n\n\n<li>Clinical Research<\/li>\n<\/ul>\n<\/details>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong><strong><strong><strong><strong>Machinery and Vehicles Industry<\/strong><\/strong><\/strong><\/strong><\/strong><\/summary>\n<p class=\"wp-block-paragraph\">The following activities are eligible for a BOI promotion as Machine and Vehicle activities<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Building or repair of ships&nbsp;<\/li>\n\n\n\n<li>Manufacturing of the following:\n<ul class=\"wp-block-list\">\n<li>machinery, equipment, and parts, and repair of in-house fabricated machinery or equipment<\/li>\n\n\n\n<li>lenses that are not classified as medical devices<\/li>\n\n\n\n<li>Manufacture of engines, equipment, or parts&nbsp;<\/li>\n\n\n\n<li>vehicle parts&nbsp;<\/li>\n\n\n\n<li>general automobiles&nbsp;<\/li>\n\n\n\n<li>motorcycles (excluding motorcycles with less than 248 ccs)&nbsp;<\/li>\n\n\n\n<li>battery electric vehicles (BEV), Plug-In hybrid electric vehicles (PHEV), hybrid electric vehicles (HEV), and BEV platforms&nbsp;<\/li>\n\n\n\n<li>electric battery motorcycles&nbsp;<\/li>\n\n\n\n<li>battery-electric tricycles and battery-electric tricycle platforms&nbsp;<\/li>\n\n\n\n<li>battery electric buses and trucks and battery electric buses and truck platforms<\/li>\n\n\n\n<li>electric bicycles (E-BIKE)&nbsp;<\/li>\n\n\n\n<li>fuel cell electric vehicles (FCEV) and equipment for fuel cell system&nbsp;&nbsp;<\/li>\n\n\n\n<li>Manufacture of fuel cells or parts&nbsp;<\/li>\n\n\n\n<li>charging station and battery swapping station for electric vehicles<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/details>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong><strong><strong><strong><strong><strong>Electrical Appliances and Electronics Industry<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/summary>\n<p class=\"wp-block-paragraph\">The following activities are eligible for a BOI promotion as electrical and electronics activities:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Manufacturing of the following:\n<ul class=\"wp-block-list\">\n<li>electrical products<\/li>\n\n\n\n<li>parts and\/or equipment used for electrical products<\/li>\n\n\n\n<li>Manufacture of parts and\/or equipment used for electronic products<\/li>\n\n\n\n<li>Manufacture of material for microelectronics<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/details>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong><strong><strong><strong><strong><strong><strong>Metal and Material Industries<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/summary>\n<p class=\"wp-block-paragraph\">The following activities are eligible for a BOI promotion as metal and material activities:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Surface treatment or anodized surface treatment (except coating or coloring treatment for decoration purposes)<\/li>\n\n\n\n<li>Heat treatment<\/li>\n\n\n\n<li>Building or repair of ships<\/li>\n\n\n\n<li>Fabrication industry or platform repair for the petroleum industry<\/li>\n\n\n\n<li>Manufacturing of the following:\n<ul class=\"wp-block-list\">\n<li>metal products, including metal parts<\/li>\n\n\n\n<li>multi-purpose engines and equipment<\/li>\n\n\n\n<li>machinery, equipment and parts<\/li>\n\n\n\n<li>Manufacture and\/or repair of rolling stocks, parts or equipment for rail system (including repair)<\/li>\n\n\n\n<li>aircraft or aerospace devices and equipment (including repair)<\/li>\n\n\n\n<li>Manufacture of fuel cells<\/li>\n\n\n\n<li>Manufacture of science equipment<\/li>\n\n\n\n<li>Manufacture and\/or repair of vehicles and weapon systems for national defense (including repair)<\/li>\n\n\n\n<li>Manufacture and\/or repair of weapons and exercise-facilitating equipment for national defense and parts (including repair)<\/li>\n\n\n\n<li>Manufacture and\/or repair of combat facilitating equipment such as bullet-proof and flak-proof vests, armors or bullet-proof and flak-proof shields (including repair)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/details>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong><strong><strong><strong><strong><strong><strong><strong>Chemical and Petrochemical Industries<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/summary>\n<p class=\"wp-block-paragraph\">The following activities are eligible for a BOI promotion as chemical and petrochemical activities:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Oil refineries<\/li>\n\n\n\n<li>Manufacturing of the following:\n<ul class=\"wp-block-list\">\n<li>chemical products for industry<\/li>\n\n\n\n<li>eco-friendly chemicals or polymers or products from eco-friendly polymers<\/li>\n\n\n\n<li>petrochemicals<\/li>\n\n\n\n<li>specialty polymers or specialty chemicals<\/li>\n\n\n\n<li>plastic products for industrial or consumer goods<\/li>\n\n\n\n<li>plastic packages with special properties<\/li>\n\n\n\n<li>plastic products from recycled plastic<\/li>\n\n\n\n<li>Active pharmaceutical ingredients<\/li>\n\n\n\n<li>medicines<\/li>\n\n\n\n<li>pulp, paper or paper articles<\/li>\n\n\n\n<li>body care products, such as soap, shampoo, toothpaste and cosmetics<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/details>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong><strong><strong><strong><strong><strong><strong><strong><strong>Public Utilities<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/summary>\n<p class=\"wp-block-paragraph\">The following activities are eligible for a BOI promotion as public utility activities:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Public utilities and basic services<\/li>\n\n\n\n<li>Natural gas station<\/li>\n\n\n\n<li>Mass transit systems and transportation of bulk goods<\/li>\n\n\n\n<li>Logistics service centers<\/li>\n\n\n\n<li>Real estate development for industrial use<\/li>\n\n\n\n<li>Product sterilization services<\/li>\n\n\n\n<li>Recycling and reuse of unwanted materials<\/li>\n\n\n\n<li>Waste treatment or disposal<\/li>\n\n\n\n<li> the following:<\/li>\n<\/ul>\n<\/details>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Light Industries<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/summary>\n<p class=\"wp-block-paragraph\">The following activities are eligible for a BOI promotion as light industry activities:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Creative product design and development<\/li>\n\n\n\n<li>Bleaching, dyeing, and finishing, or printing and finishing, or printing<\/li>\n\n\n\n<li>Manufacturing of the following:\n<ul class=\"wp-block-list\">\n<li>technical fiber or functional fiber<\/li>\n\n\n\n<li>functional yarn or functional fabric<\/li>\n\n\n\n<li>recycled fiber<\/li>\n\n\n\n<li>other fiber or yarn or fabric<\/li>\n\n\n\n<li>bags or shoes or products made of leather or artificial leather<\/li>\n\n\n\n<li>gems and jewelry or parts, including raw materials and prototype<\/li>\n\n\n\n<li>sports equipment or parts<\/li>\n\n\n\n<li>furniture or parts<\/li>\n\n\n\n<li>toys<\/li>\n\n\n\n<li>printed matter<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/details>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Our Thoughts<\/strong> <\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The BOI offers a variety of promotions to encourage eligible businesses to invest in Thailand. Checking whether your project is eligible for a BOI should always be the first consideration. BOI promotions offer significant benefits not available to other company types such as 100% foreign ownership and being the best way to facilitate work permits and visas for foreign staff.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>However, applying for a BOI promotion can take up to 9 months to complete. Should you be interested in entering the Thai market and beginning operations as soon as possible, <a href=\"https:\/\/vbapartners.com\/thai-partner-essential-for-business\/\">a Limited Company created in partnership with a Thai partner<\/a> or the temporary use of a PEO service during the application stage should be considered.<\/p>","protected":false},"excerpt":{"rendered":"<p>This article will explore the eligible BOI business activities available to prospective companies.<\/p>","protected":false},"author":2,"featured_media":9174,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,33],"tags":[155],"class_list":["post-9173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-run-a-company","category-start-a-company","tag-fr"],"_links":{"self":[{"href":"https:\/\/vbapartners.com\/th\/wp-json\/wp\/v2\/posts\/9173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vbapartners.com\/th\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vbapartners.com\/th\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vbapartners.com\/th\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/vbapartners.com\/th\/wp-json\/wp\/v2\/comments?post=9173"}],"version-history":[{"count":0,"href":"https:\/\/vbapartners.com\/th\/wp-json\/wp\/v2\/posts\/9173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vbapartners.com\/th\/wp-json\/wp\/v2\/media\/9174"}],"wp:attachment":[{"href":"https:\/\/vbapartners.com\/th\/wp-json\/wp\/v2\/media?parent=9173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vbapartners.com\/th\/wp-json\/wp\/v2\/categories?post=9173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vbapartners.com\/th\/wp-json\/wp\/v2\/tags?post=9173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}