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Board of Investment (BOI) Company in Thailand
Imagine doing business in Thailand and having the ability to have that business own land. Also, imagine the possibility of having all Thai income tax waived for a substantial number of years. Now think about being able to hire a foreigner and obtain a work permit for him in under 4 hours, that’s the ability to hire and have that person working within the same day! These are just some of the many benefits of owning a Thai company certified by the Thailand Board of Investment.
The Thailand Board of Investment is a government body in Thailand with the mandate to encourage investment in Thailand. A Board of Investment certified Thai Company can be of great value to an investor seeking to obtain advantages for his or her enterprise in Thailand.
Major advantages of setting up a BOI Company in Thailand include, but are not limited to: significant tax waivers and forgiveness in Thailand, multiple work permits without the requirement of showing four Thai employees per permit, enjoyment of 3 hour processing times for work permits at the One Stop Service Center, and one of the biggest advantages of the BOI company is the fact that it can own land even if a majority of the company is controlled by non-Thais.
Thai Board of Investment certification is reserved for large investors seeking to conduct business in the Kingdom of Thailand. The certification process is laborious, painstaking, and fraught with unforeseen complications. A very meticulous and diligent effort must be made in order to ensure that all of the requirements for certification are met. It is not advisable to try to setup a BOI company alone as this could end in disappointment and wasted resources. Instead, it would be wise to retain private legal counsel to incorporate and certify the business properly. This will not only create peace of mind for the investor, but will also ensure that the company comes into existence on sure legal footing.
In an effort to guarantee quality service to all of our clients Integrity Legal often turns down prospective clients seeking BOI approval. This is because, depending upon the venture seeking certification, the Thai BOI certification process can be extremely time consuming and if done improperly could jeopardize a Thai Companies investments. For this reason, Integrity Legal will only take on clients that we feel our firm can fully accommodate. Contact Integrity Legal for a consultation about BOI certification in Thailand and if it is the best choice for your Thai business.
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