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Board of Investment (BoI)& Investment Incentive Programs
The Board of Investment (BOI) of Thailand was established in 1977 to administer incentives under the Investment Promotion Act to stimulate investment in Thailand by both Thai and foreign investors.  The BOI provides incentives where a proposed project:
    Strengthens Thailand's industrial and technological capabilities,
    Uses domestic sourced primary resources,
    Creates significant employment,
    Developes essential support industries,
    Earns foreign exchange,
    Contributes to economic growth in the provinces,
    Conserves natural resources,
    Developes essential infrastructure,
    Contributes to environmental problems.
New companies need to apply for `Promoted' status with the BOI.  This process can take six to nine months to complete.  Once `Promoted' status is achieved the incentives offered by the BOI consist of both tax and non-tax relief for start up businesses.  The BOI also provide general advice and assistance on foreign investment regulations and company establishment, as well as with applications for factory and other licenses necessary to operate your `promoted' business.  They also have a `Mergers and Acquisitions Unit' to facilitate this approach to foreign investment and multinational alliances.  Incentives provided to BOI `Promoted' companies include such benefits as:-

    For Manufacturing projects “Aliens” may own a majority or all of the shares of the company
    Guarantees against industry nationalization and competition from State Enterprises
    Protection measures such as import surcharges or tax relief regimes
    Exemptions on the company's Income Tax ranging from 3 to 8 years, with a further 5 years at 50% exemption for businesses in special promoted zones.
    Ability to carry forward losses for five years and use them as tax deductions
    Exemptions on Income Tax on the Company's Dividends during its tax-exempt period
    The right to employ additional Alien Technicians and Managers
    The right to own land
    The right to retain or remit foreign currency abroad
    Exemptions or staged reductions in import duties on imported machinery, raw materials and re-exported items
    Exemption from Export Duties

The extent to which BOI privileges are applied depends on specific foreign equity provisions, the location or `Zone' in which the proposed investment is established and the priority accorded to the Industry Sector being pursued.  Zone One accrues the lowest benefit and Zone three the highest.

    Zone 1 is Bangkok plus its five surrounding provinces (Nakhon Pathom, Nonthaburi, Pathum Thani, Samut Prakarn, and Samut Sakhorn).
    Zone 2 is the 12 surrounding provinces (Ang Thong, Ayuthataya, Chachoengsao, Chon Buri, Kanchanaburi, Nakhon Nayok, Ratchaburi, Samut Songkram, Saraburi, Suphanburi, Phuket, and Rayong).
    Zone 3 is the remaining 58 Provinces, which are also designated as Investment Promotion Zones.

Notwithstanding the benefits proscribed for particular Zones the BOI has stated that projects involving Agriculture and Agriculture Products, Technology and Human Resources Development, Public Utilities and Infrastructure, Environmental Protection and Conservation will be accorded special treatment and the highest privileges where possible.  The BOI revises these activities under Ministerial directions and publishes a list of these on their website.

For details and application forms click onto the BOI's web Site at

Industrial Estate Authority of Thailand (IEAT)

In addition to incentives offered by the BOI investors can establish operations in Industrial Estates administered by the IEAT.  The Authority can provide the following benefits:-

    The right to own land
    The right to bring alien technicians and managers into Thailand
         Exemption of import duty and VAT on imported Machinery, equipment and materials.

If you want more information about IEAT you can visit their web site.  Just click here - IEAT Website.