Being a Thailand BOI-owned company comes with many advantages. Some of these benefits include tax advantages in addition to tax benefits. The following information will highlight the tax benefits of becoming a Thailand BOI business. It also provides information on the minimum capital investment needed, cost of registering Thailand BOI companies and the process to obtain an BOI promotion certificate.
Benefits of being a Thailand BOI Company:
Being a BOI company in Thailand will benefit your business in more ways than one. For example, you can bring foreign experts and workers to Thailand to work on projects. If you are a BOI business, you can get visas within 24 hours for your spouse and children.
It’s not an easy task to run a BOI company in this. There are numerous rules and regulations that you need to follow. First, you’ll have to sign up with the Department of Business Development (DBD) and BOI. You will also have to submit various business documents. Thirdly, Thailand BOI company ‘ll need to visit the BOI headquarters on a regular basis.
Minimum capital investment required
Investment capital is the total amount of money that is invested in a company by its owner and other shareholders. Capital for investment may be physical assets, cash, or a combination of both. The capital can be used to buy equipment, construct premises or pay employees. The total investment amount cannot exceed 2 billion Thai baht.
A minimum capital investment of THB 1,000,000 (USD 30000) is required to qualify for a Thailand BOI. The company must have three registered shareholders and must be registered in Thailand. Its activities should also meet the BOI requirements. Manufacturing, digital agriculture, mining, and exploration are all considered eligible industries.
Cost to sign up a Thailand BOI business
The Thailand Board of Investment (BOI) is an organisation that encourages foreign-owned companies to establish operations in Thailand. Its purpose is to attract foreign investment to Thailand and grow the economy. It provides numerous incentives to foreign investors, including tax breaks, investments incentives as well as the possibility to bring skilled workers or experts into the country. If you plan to set up an enterprise in Thailand are required to get an ‘B’ non-immigrant visa.
You’ll need to put in at least one million Thai Baht in company capital when you plan to start a Thai company. Other requirements include hiring employees or purchasing machinery. To aid you through the process, engage a lawyer.
Obtained a BOI Promotion Certificate
The establishment of a BOI company in Thailand has many benefits. One of the main advantages is that an BOI company is eligible to receive special incentives. These incentives include the chance to be entirely owned by foreigners and less requirements for hiring foreign employees. These incentives are beneficial for foreign companies who want to establish a presence in Thailand.
There are a number of prerequisites to obtain an BOI promotion certificate. First, applicants must establish a limited liability entity with at least three shareholders and director. They also must transfer funds from abroad, typically at minimum 25 percent of capital registered. They should also state the investor’s name and the name of the company. They may also seek out professional assistance to apply for a business visa, if required.
