A Thai BOI company is a registered company in Thailand. These companies offer assistance and incentives to foreign investors looking to invest in Thailand. They also provide a variety of tax incentives and other benefits for Thai investors from abroad. In 1966, the Office of the Board of Investment (BOI) is under the Prime Minister’s Office and has been promoting business investment in Thailand for over 50 years.
Benefits of the establishment of Thai BOI companies
There are several benefits of setting up BOI companies. BOI company in Thailand. The first is that you don’t have to pay hefty legal fees. BOI promotes businesses that are financially sound and have a minimum investment capital of one million baht. There is no need to pay high rent , or to pay for staff or equipment purchase. In reality, BOI registration services are quite competitive and offer great value for money.
Second, the Thai government provides tax breaks. There are 13 years of tax-free status for new businesses and the government also allows the establishment of an Thai BOI company that has 100 percent foreign ownership. However, this doesn’t apply to the entire company.
Categories of investments
Thai BOI has announced the introduction of new business investment promotion categories. They include the creation and repair of high precision electronic and machinery parts in addition to the creation and repair of IT services that comply with international standards. These new categories will enhance Thailand’s attractiveness as a business location.
These categories are determined by the type of business being conducted. Some are eligible for tax incentives , while others are not. Some are based on merit and go to projects that are competitive in Thailand or invest in low-income provinces. Thailand has designated special economic zones which provide tax and non-tax incentives for businesses engaged in certain kinds of activities.
Investment values
BOI or the Bureau of Investment in Thailand offers incentives to certain types of businesses that are located in Thailand. These include tax benefits that relate to raw materials as well as machinery, as well as non-tax incentives for certain kinds of business. Companies that belong to the Thai BOI are eligible for the benefit of a tax-free corporate income for three to eight years.
To become a BOI company you must create an LLC with at least three shareholders. At least one shareholder must be an investor. Then, you have to transfer money to the company from abroad, with a minimum amount of twenty-five percent of the registered capital of the company. Send the money to the registered address of the company in Thailand. Include the sender and receiver’s names and the name of the company. If you have any doubts or queries, you may get the help of credit advisers.
Cost of the registration of for a Thai BOI company
The cost to register a Thai BOI company is between 24,000 and 30,000 THB. This includes all fees imposed by the government. In BOI thailand requirements , promoters must provide information on their auditor and license number. It is vital to show proof of foreign investment to the relevant authorities. The cost of registration will differ depending on the type of business and the amount of capital required.
The Thai government encourages foreign ownership of limited companies in Thailand. Foreign investors are also able to own land in Thailand. When registering a company in Thailand foreign investors must submit a plan of work. The plan should include details about the work process, value creation, equipment, and other pertinent details.
Categories: business
