BOI Company Registration in Thailand
In order to be eligible for a BOI company registration in Thailand you must be able to show foreign investment. The investment must be completed within 36 month after receiving the promotional certificate. The proof of ownership has to be given for the amount of foreign investment. The minimum capital requirement is 1M Thai However, it can vary depending on the type of business you are planning to establish.
BOI company registrations provide tax-free benefits
There are a variety of incentives offered to foreign investors looking to set up businesses in Thailand. Companies that are registered with the Board of Investment of Thailand (BOI) are eligible for exemptions from corporate taxes on income, import duty as well as construction and transportation costs. Tax incentives are also offered to certain BOI companies. This includes the ability to bring foreign employees or transfer foreign currency.
Some of the most prestigious privileges offered by the BOI include tax-free corporate income exemption, tariff reductions on the machines used in production and tariff-free treatment of imported raw materials, authorization to invest in land, the right to invite foreign experts, as well as visa and work permit facilitation. Thai BOI company can be enjoyed for up to ten year.
List of prohibited activities of the BOI
Foreign-majority-owned companies are allowed to provide financial services to affiliates under the amended List of activities not permitted by the BOI. This is a modification to the previous policy which prohibited promoted companies from providing these services to their affiliates. This restriction was particularly problematic for foreign-majority-owned companies that want to engage in lending offshore.
While many businesses are prohibited in the UAE There are many activities that aren’t listed on the list. These activities must be closely related and revenue-generating. In the majority of instances, the revenues generated by these activities has to be derived from the approved business activity. Other activities that fall under this category are wholesale business, retailing and accountancy. Additionally, the capital required for these activities is not more than 100 million Thai bahts. Retailing businesses require a minimum capital investment of THB 20,000,000 (or approximately $600,000.). The list of activities on each list is accessible on the BOI website.
Requirements to obtain an BOI promotion certificate
To establish a legal entity in Thailand, it is important to get an BOI promotion certificate. The BOI offers a variety of benefits, including lower costs for legal services and shorter processing times. The process of applying for a visa and a working permit can be made simpler by the issuance of a promotion certificate.
First the owner of the business must fill out a questionnaire with details regarding the company as well as investors. The forms typically range from between eight and ten pages and will include multiple questions. The questions will contain information about the company’s investment plans, target market products, design of the product shareholders, as well as technology transfers. Each section must be completed in a meticulous manner by companies.
Types of businesses that are eligible for BOI status
Many benefits accrue to a business who has applied for BOI status. It is crucial to choose the right category for your company based on its type. BOI registration is beneficial for various industries. These include mining, agriculture and light industrial products and paper, as well as utilities and public service.
BOI status may be available to a Thai manufacturing company. This will make it easier to hire foreign workers and draw the top talent.
Cost of registering with the BOI
If you’re thinking of setting up a new business in Thailand or seeking to expand your existing business, you should sign up with the BOI. This government entity offers a variety of tax breaks and incentives to attract foreign investors. Businesses that are registered with the BOI receive a reduction in corporate taxes and import duties. They could also be qualified for tax exemptions on expenses like transportation utilities, construction, or transportation. BOI companies can also be eligible for tax-free incentives like foreign currency transfers and the importation of foreign workers.
New companies must invest at minimum one million Thai dollars to be registered with the BOI Thailand. This amount of investment can be made from cash or physical assets. Capital investment can also comprise the cost of construction and other assets. It cannot include wages production, land value, or.