BOI Promoted Companies for Tech / IT companies.
Posted On July 24, 2019
You may apply for investment promotion from the Board of Investment (BOI) if the nature of your business falls under one of the promoted activities, in which case you would be entitled 100% foreign ownership with the foreign business license (without the usual capitalization requirement) and would be permitted to bring in foreign skilled workers without having to comply with the general ratio of 4 Thai employees to 1 foreign national working in the company.
The application for BOI promotion takes approximately four – six months overall, including the preparation, submission, interview and consideration period.The options for a business that is involved in Digital services promoted by the BOI include:- Software platform- Managed services- Digital architecture design services- Digital services such as FinTech, DigiTech, MedTech, AgriTech, etc.
The conditions for a Digital Services company are as follows:
1. Project must hire digital specialists and have capital investment (excluding cost of land and working capital) of not less than 1 million Baht.
2. Project must include digital services.
3. Projects with an investment of 10 million Baht or more (excluding cost of land and working capital) must be certified with ISO2000 or other quality standard certificate as approved by the Ministry of Information and Communication Technology within 2 years from the full operation start up date.
4. Revenue derived from sales or provision of services that are directly related to a promoted digital services business shall be regarded as revenue of such promoted business.
5. Projects must gain approval from the Ministry of Digital Economy and Society before applying for Investment Promotion.