How to Register a BOI Company in Thailand

Setting up a BOI-promoted company in Thailand offers big benefits. These include tax exemptions, 100% foreign ownership, and simplified work permit requirements. However, it also involves a lot of paperwork and steps.

Here’s what you need to know, organized by requirements, process, and documents.

1. What is a BOI Company?

A BOI company is a business certified by Thailand’s Board of Investment (BOI). This government agency promotes foreign and local investment in key industries. Once approved, your company gets special tax and non-tax incentives, such as:

• Up to 8-year corporate income tax exemption

• Reduced or zero import duties on machinery and raw materials

• Permission to own land (for approved projects)

• Easier foreign hiring – no need for 4 Thai employees per foreigner

• Ability to send profits abroad

• Protection against business nationalization

2. Eligibility Requirements

To qualify for the BOI promotion, your business must:

• Operate in a BOI-promoted industry, such as:

  • Technology and innovation

  • Manufacturing and engineering

  • Agriculture and food processing

  • Electronics, chemicals, paper, plastics

  • Public utilities and services

• Provide clear benefits to Thailand’s economy (jobs, skills, exports, innovation)

• Meet a minimum capital investment, usually THB 3 million+ (depends on project type)

• Prepare a business plan and show financial capability

3. Required Documents

Before applying, gather these documents:

• Application form (from BOI e-service portal)

• Detailed business plan and feasibility study

• Memorandum of Association (MOA)

• List of shareholders

• Certificate of incorporation (if already registered)

• Financial statements or projected balance sheet

• Proof of capital transfer (bank certificates or investment evidence)

• Technology transfer, licensing, or franchise agreements (if any)

• Workforce plan (Thai and foreign employees, salary, training strategy)

4. BOI Application Process

Step 1 – Prepare Your Application

• Check if your activity is listed in the BOI-promoted categories

• Write a strong business plan showing your project’s value to Thailand

• Collect all supporting documents

Step 2 – Submit the Application

• Submit online through the BOI e-service portal

• Wait for the BOI interview invitation (usually within 1–2 weeks)

Step 3 – Interview & Evaluation

• Present your business plan in person at the BOI headquarters in Bangkok

• The board will assess your proposal based on investment, innovation, and impact

Step 4 – Approval Timeline

• Under 200 M THB → Approval in about 40 working days

• 200 M – 2 B THB → Approval in about 60 working days

• Over 2 B THB → Approval in about 90 working days

Step 5 – Receive Conditional Approval

• If approved, you’ll get a letter outlining your privileges and conditions

• You must accept and return the approval form within 30 days

5. Company Registration

Once approved by the BOI:

1. Register the company with the Department of Business Development (DBD) within 6 months

2. Set up a Thai business bank account and transfer capital from abroad

3. Apply for work permits and visas through the BOI’s One-Stop Service Center (OSOS)

6. Final BOI Promotion Certificate

After completing registration, submit the final paperwork to receive your BOI Promotion Certificate:

• Promotion acceptance form

• Company registration certificate

• Evidence of fund transfer

• HR plan and machinery import schedule

Once issued, this certificate gives you full access to all BOI benefits.

7. Compliance & Reporting

To keep your BOI status active:

• Import approved machinery within 30 months

• Complete factory setup and operations within 36 months

• Report any changes (halt in operation, sale of machinery, etc.)

• Maintain proper accounting, VAT/WHT, and annual audits

• Submit periodic BOI performance reports

If you fail to comply, the BOI can revoke your privileges, including tax exemptions.

8. Key Advantages of BOI Promotion

Benefit Type Details

Tax Incentives Up to 8-year corporate income tax exemption, import duty reductions, extra deductions for utilities and construction

Non-Tax Incentives: 100% foreign ownership (for eligible industries), land ownership, easier work permits, profit repatriation

Speed & Efficiency Work permit processing in 1 day via BOI One-Stop Center

9. Common Challenges

• The process is document-heavy and needs careful preparation.

• Minimum investment and eligibility rules can exclude smaller businesses.

• Compliance monitoring is strict — missing reports or deadlines risks BOI revocation.

10. Timeline Overview

• StageTimeframe

• Application preparation 2–4 weeks

• BOI interview 1–2 weeks after submission

• BOI decision 40–90 working days

• Company registration (DBD) 1–2 weeks

• Promotion certificate issuance, about 10 working days

• Total setup time: About 3–4 months

Summary

Getting BOI certification takes time, but it’s worth it. You can create a fully foreign-owned company in Thailand. To do this, you need the right structure, clear documents, and legal support. This will help you access strong benefits backed by the government.

If you want to apply, the next step is to write your business plan. You should also check if your activity is eligible with the BOI.