Thailand BOI Promotion Guide: Incentives, Requirements and Application Process

What Is the BOI?

The BOI (Board of Investment) is the Thai government's main investment promotion agency. Companies granted BOI promotion can bypass the Foreign Business Act's foreign ownership limits and enjoy both tax and non-tax incentives. For foreign investors who plan to genuinely operate in Thailand, BOI promotion is the most legitimate route to full foreign ownership.

Key Incentives

Tax Incentives

• Corporate income tax exemption for 3-13 years (tiered by industry category and technology level)
• Import duty reduction or exemption on machinery
• Additional deductions for R&D and training expenses

Non-Tax Incentives

• 100% foreign ownership (for most promoted categories)
• Right to own land for the promoted project
• Relaxed visa and work permit quotas for foreign experts and executives, processed quickly via the One Stop Service
• No restrictions on repatriating profits

Which Industries Get Approved?

The promotion list covers agriculture and food, biotech, automotive parts, electronics, digital industries (software, data centers, digital services), creative industries, International Business Centers (IBC), and Trade and Investment Support Offices (TISO). Digital and high-tech manufacturing are current priorities, and software projects have relatively friendly capital requirements. Plain trading, restaurants, and general retail are usually outside the promotion scope.

Basic Requirements

• The project falls within a category on the BOI promotion list
• Minimum investment: at least 1 million THB for most categories (excluding land and working capital); software categories are assessed on personnel salary spending
• Registered capital proportionate to the investment, with a reasonable debt-to-equity ratio (generally not above 3:1)
• Meeting the category's technology, process, or staffing requirements (e.g., software categories require hiring Thai IT personnel)

Process and Timeline

• Feasibility assessment: confirm the category and prepare the business plan (1-2 weeks)
• Submit online via the e-Investment system
• Interview: present the project to BOI officials (scheduled about 2-4 weeks after submission)
• Approval: projects under 200 million THB typically get a decision in 40-60 working days
• After approval: accept the promotion conditions within 60 days, then complete company registration and certification within 6 months

FAQ

Register the company first, or apply for BOI first?

Either works. You can apply in the name of a company to be established and register after approval, or apply with an existing company. For new projects, applying first avoids restructuring shareholding later.

What are the ongoing compliance duties of a BOI company?

Implement the project per the promotion conditions, file annual operation reports with the BOI, obtain the operation certificate once operational, and keep the promoted business as the core activity. Breaching conditions can lead to revocation and clawback of tax benefits.

How do foreign employees get visas after BOI approval?

Through the One Stop Service Center (OSS), Non-B visas and work permits can be issued the same day, and the usual "4 Thai employees per 1 work permit" ratio does not apply — quotas follow the foreign positions approved by the BOI.

Need Help?

TaiHuBang provides end-to-end BOI consulting: category matching, business plan preparation, interview coaching, and post-approval registration and compliance. See our company registration service, or submit an inquiry — a consultant will reply within 24 hours.