How to open company under the BOI in Thailand?

What is the BOI?

• The Board of Investment is a Thai government agency that promotes investment in specific industries and sectors.
• BOI-promoted companies receive benefits such as tax holidays, import duty exemptions, permission for foreign land ownership, and work permit/visa facilitation.

Eligibility for BOI Promotion

• Business Activity: Your company's activities must fall under the sectors and industries promoted by the BOI. You can find the eligible activities list on the BOI website (https://www.boi.go.th/index.php?page=eligible_activities).
• Investment Requirements: There are often minimum investment requirements and other criteria depending on the specific industry.

The Application Process

1. Pre-consultation (Optional, but recommended): Contact the BOI for advice on eligibility and the application process.
2. Investor Account Registration: Create an online investor account on the BOI website.
3. Application Form and Documents: Fill out the online application and prepare supporting documents, including:
   • Project feasibility study
   • Company's Memorandum of Association
   • Business plan
   • Financial projections
   • Technology transfer agreements (if applicable)
   • Environmental impact assessment (if applicable)
4. Presentation to the BOI: You'll need to present your project to a BOI committee.
5. Approval or Rejection: The BOI will review your application and decide.
6. Company Registration: If approved, you proceed with regular company registration at the Thai Department of Business Development.
7. Investment Promotion Certificate: Once the company is registered, you receive your official BOI Investment Promotion Certificate.

Important Notes

• Timeline: The process can take several months.
• Professional Assistance: It's highly recommended to consult lawyers and accountants specializing in BOI applications to ensure a smooth process.
• Ongoing Compliance: BOI-promoted companies must meet the BOI's ongoing requirements for reporting and compliance.

Useful Resources

• BOI Thailand Website: https://www.boi.go.th/
• BOI Guide to Setting Up a Company: https://www.boi.go.th/index.php?page=setting_up_a_business