How to Apply for BOI in Thailand: Legal Guide by a Leading Law Firm in Bangkok
Investing in Thailand can be highly rewarding, especially when supported by the government’s incentive programs. The Board of Investment (BOI) offers a structured path for both local and foreign investors to access corporate tax holidays, import duty exemptions, and foreign ownership rights.
This guide provides a clear, legally grounded overview of how to apply for BOI in Thailand, the eligibility criteria, regulatory obligations, and post-approval requirements. Backed by the insights of a leading law firm in Bangkok, we explain the full legal framework of BOI applications for serious investors.
📚 Table of Contents
1. What is the BOI in Thailand?
The Thailand Board of Investment (BOI) is a government agency that promotes investment through incentives and regulatory benefits. The BOI is governed by the Investment Promotion Act B.E. 2520 and operates under the Prime Minister’s Office.
Benefits of BOI Promotion:
-
Up to 13 years of corporate income tax exemption
-
Exemption from import duties on machinery and raw materials
-
100% foreign ownership in approved sectors
-
Ownership rights for land (in certain cases)
-
Expedited visas and work permits for foreign personnel
See full details on the BOI official website.
2. Roles of Stakeholders in the BOI Application Process
✅ Legal Counsel
A lead law firm in Bangkok can guide applicants through company setup, compliance with Thai foreign investment laws, and interaction with BOI officials.
✅ Business Owners
Must prepare a viable business plan, financials, operational structure, and supporting documents.
✅ BOI Officers
Review applications, conduct interviews, and determine if projects align with national priorities.
3. Can One Company Hold Multiple BOI Projects?
Yes. A single Thai company may file multiple BOI applications, provided each project:
-
Falls into a different promoted activity category
-
Operates as a distinct business line
📌 Note: Operating separate BOI projects under different companies may simplify audits, accounting, and compliance.
4. Eligible Activities and Incentives Under BOI
The BOI encourages sectors like:
-
Smart electronics and advanced manufacturing
-
Biotechnology and green industries
-
Digital platforms, software, and data centers
-
International logistics and packaging design
Projects like recycling HDPE plastic or exporting entirely to Europe may qualify if structured properly. See the BOI list of eligible activities for current categories.
5. Special Legal Considerations for TISO Applications
The Trade and Investment Support Office (TISO) is suitable for businesses that provide international services, such as:
-
Product sourcing
-
Export logistics
-
Package design
-
Market coordination
To qualify:
-
Your company must earn income from foreign clients
-
Some value-adding services must occur within Thailand
-
You’ll need proof of international contracts
📌 Tip: Without a physical manufacturing process, TISO applicants may face tougher scrutiny.
6. Tax Benefits and Duty Exemptions
|
Tax Type |
BOI Treatment |
|---|---|
|
Corporate Income Tax |
Up to 13-year exemption |
|
Import Duties |
Exempt on approved machinery/raw materials |
|
VAT |
Not exempt under BOI |
|
Personal Income Tax (for foreigners) |
Normal rules apply, but work permits are expedited |
See the BOI Tax Manual for breakdown.
7. Legal of BOI: Compliance, Audit, and Shareholding Rules
BOI status does not exempt companies from Thai law, and compliance is strict.
-
Auditor must be Thai-licensed and file annual reports.
-
Foreigners can own 100% of shares in most BOI businesses.
-
Foreign directors must have a work permit to manage or sign documents.
BOI status may override the Foreign Business Act, but only within approved scope.
8. How to Apply for BOI in Thailand: Step-by-Step
-
Prepare Application
-
Business plan
-
Budget and staffing plan
-
Shareholding structure
-
-
Apply Online
-
Through the BOI e-investment portal
-
-
Attend Interview
-
Answer questions on technology, investment, and local employment
-
-
Receive Approval
-
A formal letter with conditions and timelines will be issued
-
⏱️ Timeframe: 6-12 months depending on project complexity
9. Why Legal Support is Essential
Navigating the legal of BOI rules can be complicated, especially for foreign-owned businesses. A leading law firm in Bangkok provides:
-
Strategic advice for choosing the right BOI activity code
-
Guidance on location-based benefits (e.g. EEC vs non-zoned areas)
-
Contract review and tax structure optimization
-
Liaison with BOI officers and follow-ups
10. After BOI Approval: FBL, Leases & Start of Operations
BOI approval doesn’t equal full operational rights. You must:
-
Apply for a Foreign Business License (FBL) unless exempt
-
Register tax ID and VAT
-
Secure office space compliant with BOI inspection
-
Start operations within a set timeline or risk forfeiting benefits
📌 See the DIP FBL Guide for more details.
Conclusion: Work With a Leading Law Firm in Bangkok
The BOI application is not just paperwork, it’s a legal process involving multiple agencies, compliance rules, and strategic structuring. To fully realize the benefits, companies must understand:
-
The legal of BOI and its interplay with Thai business laws
-
When and how to choose the right BOI category
-
Post-approval obligations and reporting
Engaging a leading law firm in Bangkok gives investors a legal and operational edge, avoiding missteps and securing long-term incentives.
Contact Information
Website: https://www.siamcenterlawgroup.com
Phone: Available for consultation 5 working days a week
For support with preparing pleadings, submitting court documents, or exploring expedited dispute resolution, our attorneys are ready to assist you with professionalism and clarity.