Phuket Legal Firm
BOI registration for companies
BOI Company Registration
Service in Phuket
Board of Investment (BOI) companies in Thailand are promoted by the government in terms of incentives, skill development, and promoted activities.
What is BOI?
Unlike private companies in Thailand, a BOI has many perks including up to 100% foreign ownership, progressive corporate tax rates, and eligibility for a foreign business license, among other benefits. However, it is worth noting that only businesses which operate under selected categories can qualify for promotion by the Thai BOI. These include:
- Agriculture and agricultural-related products
Mining, ceramics, metal products, machinery, and transport equipment.
- Chemicals, plastics, paper, and the light industry
- Electronic appliances and the electronic industry
- Technology and innovation
- Services and public utilities
Beyond these selected industries, it is possible to become eligible for BOI promotion by meeting the criteria for Thailand’s social, economic, and environmental development. These include enhancing competitiveness, promoting energy saving, strengthening regional potential, investment in the Southern provinces, creating connectivity with neighboring countries, and promoting Thailand overseas.
Why Choose BOI?
There are multiple reasons to choose BOI promotion in Thailand over private company registration. Firstly, there are great tax incentives including corporate tax exemption, reduction in import duties, reduction on taxes for dividends paid to shareholders, and breaks for costs related to utilities and installation. Beyond tax breaks, BOI companies benefit from the ability to have 100% foreign ownership, faster work permit and visa processing for skilled foreign individuals, remission of money abroad, and protection again the nationalization of the business.
How Phuket Legal Firm Can Help
Our legal team has more than 30 years of experience assisting in the setup of BOI companies from making the initial application to applying for work permits, tax returns, and accounting. Contact us today to discover if your business is eligible for BOI promotion.
From Monday to Friday: 9:00am - 04:00pm
Saturday and Sunday: Closed