BOI Thailand FAQs
Foreign investors ask us the same BOI questions every week at our Bangkok office: tax holidays, ownership rules, timelines, and how promotion connects to visas. Thai Visa Centre coordinates the immigration side while your corporate advisors handle BOI applications and company registration.
BOI promotion is optional investment incentive. It does not replace company registration, tax compliance, or visa and work-permit requirements. Read our BOI procedure flow chart for the full application sequence.
Board of Investment is Thailand primary agency for investment promotion.
Projects under 2 billion THB typically review in about 60 working days.
You must accept promotion within one month of approval notification.
BOI promotion does not replace visa and work permit requirements.
What is BOI and who runs it?
The Board of Investment is Thailand primary agency for investment promotion. It evaluates projects against promoted activity lists and may grant tax relief, import-duty benefits, foreign-ownership permission, and work-permit flexibility for qualifying operations.
Overview guide: Thailand Board of Investment
How long does BOI approval take?
After approval, you must accept promotion within one month. The operation start-up certificate is usually issued within 10 working days once post-approval documents are complete. Timelines vary if BOI requests additional information.
| Project size | Typical review period |
|---|---|
| Under 2 billion THB | Approximately 60 working days |
| 2 billion THB and above | Approximately 90 working days |
What benefits can BOI offer?
Benefits depend on activity code, investment zone, and project tier. Exact packages are project-specific. Never assume standard benefits without reading your approval letter.
Corporate income tax
Exemption or reduction, often 3 to 8 years, sometimes with additional reduction periods depending on activity and zone.
Import duty
Exemption on machinery and raw materials used in promoted production activities.
Foreign ownership
100% foreign ownership for promoted activities where the Foreign Business Act would otherwise require a Thai majority.
Land ownership
Permitted for promoted operations subject to BOI conditions and approval letter terms.
Work permits
Relaxed Thai-to-foreign staff ratios in some promoted projects, subject to approval conditions.
Do I still need a visa and work permit?
Yes. BOI promotion does not issue visas or work permits automatically. You still need a non-immigrant B visa from a Thai embassy and a work permit from the Department of Employment. BOI support letters can streamline parts of the work-permit process, but immigration remains a separate track.
That is where TVC helps. See our work permit guide for employment authorization details.
Foreign ownership: For promoted activities, BOI may permit full foreign shareholding even where the Foreign Business Act restricts foreign majority ownership. Non-promoted activities still follow standard FBA rules.
What documents are commonly required?
- BOI application form and detailed project plan
- Company registration certificate and memorandum of association
- Shareholder and director details
- Evidence of foreign remittance or transfer proof
- Manpower plan with Thai vs foreign hires, salaries, and training commitments
- Technology transfer or franchise agreements if applicable to the project
Promoted activities list: Thailand BOI promotion activities
Common BOI mistakes
- Applying before the company structure and activity code are finalised.
- Overstating investment or employment plans that cannot be delivered.
- Assuming BOI approval equals automatic visa issuance.
- Operating revenue activities outside the approved promoted scope.
- Missing acceptance deadlines or post-approval reporting deadlines.
Frequently asked questions
General answers for foreign investors considering BOI promotion in Thailand. Confirm specific requirements with BOI before you invest or submit an application.
Q:Is BOI mandatory to do business in Thailand?
No. Many companies operate without BOI promotion, subject to standard company law, Foreign Business Act rules, and standard tax rates.
Q:Can I apply for BOI before registering a company?
BOI typically expects a registered Thai entity or a clear pre-incorporation pathway. Speak with BOI or your corporate advisor on timing for your specific project.
Q:What happens if I reject BOI promotion?
You can decline, but you forfeit the offered incentives. Acceptance must occur within the stated deadline in your approval notification.
Q:Does BOI help with Smart Visa?
Some targeted industries overlap with SMART Visa categories, but they are separate programmes with different eligibility rules.
Q:Do I still need a visa and work permit with BOI?
Yes. You still need a non-immigrant B visa from a Thai embassy and a work permit from the Department of Employment. BOI support letters can streamline parts of the process, but immigration remains separate.
Q:Can foreigners own 100% with BOI?
For promoted activities, BOI may permit full foreign shareholding even where the Foreign Business Act restricts foreign majority ownership. Non-promoted activities still follow standard FBA rules.
Q:How long does BOI approval take?
Review typically takes about 60 working days for projects under 2 billion THB and about 90 working days for larger projects. Timelines vary if BOI requests additional information.
Q:What is BOI and who runs it?
The Board of Investment is Thailand primary agency for investment promotion. It evaluates projects against promoted activity lists and may grant tax relief, import-duty benefits, foreign-ownership permission, and work-permit flexibility.