If you’re just starting a business in Thailand, understanding the BOI can give you a real competitive edge over a standard company. Here’s a clear look at what the BOI is, the privileges it offers, and how it compares to running an ordinary SME — so you can decide whether it’s the right path for you.
What Is the BOI?
The BOI (Board of Investment) is Thailand’s investment promotion agency. Its core role is to support and encourage investment for businesses under its scheme, helping them build capability and compete more effectively within Thailand. The BOI reduces start-up risk and lowers initial investment costs, helps businesses reach profitability sooner, and provides advisory and support services across the investment process. The broader aim is to stimulate the economy and develop the country sustainably — and when foreign investors see those opportunities, they’re more likely to invest here. To join the scheme, a business must meet the BOI’s specific eligibility criteria.
8 Business Categories the BOI Promotes
Agriculture and agricultural products (e.g. processed starch, medical-grade food); light industry (e.g. textiles, medical instruments); minerals, ceramics and base metals (e.g. glass, ceramics, construction materials); electrical appliances and electronics; metal products, transport equipment and machinery; chemicals, paper and plastics; services and public utilities; and technology and innovation development.
5 Target Industry Groups
Agriculture, medical and biotechnology industries; high-technology industries; basic and supporting industries; digital, creative and high-value-added service industries; and research, development, and targeted technology development.
Privileges for BOI-Promoted Businesses
Tax benefits:
- Corporate income tax exemption of up to 13 years (depending on conditions and business type)
- A 50% reduction in corporate income tax for 5 years (in designated investment promotion zones)
- Exemption or reduction of import duties on machinery and raw materials
- Exemption of import duties on items for research and development
Non-tax benefits:
- 100% foreign ownership permitted (excluding businesses restricted by other specific laws)
- The right to own land
- Permission for skilled foreign specialists and technicians to work in Thailand
- The ability for family members and dependents of foreign staff (parents, spouse, children) to reside in Thailand
- Permission for foreign nationals to remit funds abroad
As you can see, operating under the BOI offers meaningfully more advantages than running a standard SME — particularly on the tax side, with substantial exemptions and reductions. That said, if you’re interested, you’ll need to pass the BOI’s assessment and run your operation in line with all the required conditions.
Setting up a BOI-promoted company often comes with a practical requirement that’s easy to overlook: a proper registered office address and a professional workspace ready from day one. That’s where Unionspace comes in. With flexible serviced offices, coworking spaces, and virtual office solutions across Thailand, Unionspace helps both foreign and local businesses establish a credible base — without the cost and commitment of a long-term lease. Whether you’re a new BOI applicant needing a registered address or a growing team looking for room to scale, Unionspace gives you the right space to get started fast. Explore our spaces in Thailand →
