What is BOI?
The BOI (Office of Board of Investment) is a Thai government agency that has a role of promoting valuable investment both into Thailand and Thai overseas investment. It does so by provide a series of tax and non-tax incentives.
BOI investment promotion policies
Investment promotion policies under the BOI are to:
- Promote investment that helps enhance national competitiveness
- Promote activities that are environment-friendly
- Promote clusters to create investment concentration in accordance with regional potential and to strengthen value chains
- Promote investment in border provinces in Southern Thailand
- Promote special economic zones
- Promote Thai overseas investment to enhance the competitiveness of Thai businesses in the global economy
Activities eligible for investment promotion
The following activities are eligible for BOI promotion in Thailand:
| 1. Agriculture and agricultural products | Manufacture of biological fertilisers, organic fertiliser, nano-coated organo-chemical fertiliser and bio-pesticides |
| Plant or animal breeding (only those that are not eligible for biotechnology activity) | |
| Crop dying and silo facilities | |
| Animal propagation or animal husbandry | |
| Slaughtering | |
| Deep sea fishery | |
| Grading, packaging and storage of plants, vegetables, fruits or flowers | |
| Manufacture of modified starch or starch made from plants that have special properties | |
| Manufacture of oil or fat from plants or animals | |
| Manufacture of natural extracts or products from natural extracts | |
| Manufacture of active ingredients from natural raw materials | |
| Tanneries or leather finishing | |
| Manufacture of natural rubber products (except for rubber bands, rubber balloons and rubber rings) | |
| Manufacture of products from agricultural by-products or agricultural waste (except for those with uncomplicated production processes, eg drying or dehydration) | |
| Manufacture of fuel from agricultural products, including agricultural scrap or garbage or waste | |
| Manufacture of preservation of food, beverages, food additives or food ingredients using modern technology | |
| Manufacture of medical food or food supplements | |
| Cold storage, or cold storage and cold storage transportation | |
| Trading centre for agricultural goods | |
| Manufacture of animal feed production and animal food ingredients | |
| Manufacture of modern agricultural products or services related to modern agriculture | |
| 2. Mining, ceramics and basic metals | Prospecting of minerals |
| Potash mining and/or dressing | |
| Manufacture of advanced or nano materials or products produced from advanced or nano materials | |
| Manufacture of glass or ceramics products | |
| Manufacture of fire-resistant materials or heat insulation | |
| Manufacture of gypsum board or gypsum products | |
| Manufacture of up-stream steel, eg hot metal, pig iron, sponge iron, Direct Reduction Iron (DRI) and Hot Briquetted Iron (HBI) | |
| Manufacture of intermediate steel, eg slab, billet and bloom | |
| Manufacture of down-stream steel | |
| Manufacture of steel pipes or stainless-steel pipes | |
| Manufacture of metal powder | |
| Manufacture of ferro-alloy | |
| Manufacture of cast iron/steel parts | |
| Rolling, drawing, casting or gorging of non-ferrous metals | |
| Coil centre | |
| Manufacture of construction materials and pre-stressed concrete for public utilities | |
| 3. Light industry | Manufacture of textile products or parts |
| Manufacture of non-woven fabric or hygienic products made of non-woven fabric | |
| Manufacture of bags or shoes or products made of leather or artificial leather | |
| Manufacture of sports equipment or parts | |
| Manufacture of musical instrument | |
| Manufacture of furniture or parts | |
| Manufacture of toys | |
| Manufacture of gems and jewellery or parts including raw material and prototype | |
| Manufacture of lenses | |
| Manufacture of medical devices or parts | |
| 4. Metal products or metal products including metal parts | Manufacture of metal products including metal parts |
| Surface treatment or anodised surface treatment (except coating or colouring treatment for decoration purpose) | |
| Heat treatment | |
| Manufacture of multi-purpose engines and equipment | |
| Manufacture of machinery, equipment and parts | |
| Manufacture of general automobile | |
| Manufacture of automobile engines | |
| Manufacture of vehicle parts | |
| Building or repair of ships | |
| Manufacture and/or repair of rolling stocks, parts or equipment for rail system | |
| Manufacture or repair of aircraft or aerospace devices and equipment | |
| Manufacture of motorcycles | |
| Manufacture of fuel cells | |
| Fabrication industry or platform repair for petroleum industry | |
| Manufacture of science equipment | |
| Manufacture and/or repair of vehicles and weapon systems for national defence | |
| Manufacture and/or repair of weapons and exercise-facilitating equipment for national defence and parts | |
| Manufacture and/or repair of combat facilitating equipment such as bullet-proof and flak-proof vests, armours or bullet-proof and flak-proof shields | |
| 5. Electronic industry and electric appliances | Manufacture of electrical products |
| Manufacture of parts and/or equipment used for electrical products | |
| Manufacture of electronic products | |
| Manufacture of parts and/or equipment used for electronic products | |
| Manufacture of material for microelectronics | |
| E-commerce | |
| Digital services | |
| 6. Chemicals, paper and plastics | Manufacturing of chemical products for industry |
| Manufacture of eco-friendly chemicals or polymers or products from eco-friendly polymers | |
| Oil refinery | |
| Manufacture of petrochemicals | |
| Manufacture of specialty polymers or specialty chemicals | |
| Manufacture of plastic products for industrial goods | |
| Manufacture of plastic packages with special properties | |
| Manufacture of plastic products from recycled plastic | |
| Active pharmaceutical ingredients | |
| Manufacturing of medicines | |
| Manufacture of chemical fundamental fertilisers | |
| Manufacture of pulp or paper | |
| Manufacture paper articles | |
| Production of printed matter | |
| Manufacture of body care products, such as soap, shampoo, toothpaste and cosmetics | |
| Manufacture of plastic products for consumer goods | |
| Manufacture of products from pulp or paper | |
| 7. Service and public utilities | Public utilities and basic services |
| Natural gas station | |
| Mass transit systems and transportation of bulk goods | |
| Logistics service centres | |
| Real estate development for industrial use | |
| Product sterilization services | |
| Recycling and reuse of unwanted materials | |
| Waste treatment or disposal | |
| Thai motion picture production | |
| Motion picture support services | |
| Tourism promotion services | |
| Activities to support tourism | |
| Medical services | |
| Development of labour’s accommodation in accordance with international standard | |
| Smart city area development business | |
| Smart city system development business | |
| Distribution centre with smart system | |
| International Business Centre | |
| EV charging stations | |
| Housing projects for low-income earners | |
| 8. Technology and innovation development | Targeted care technology development |
The following activities are knowledge-based activities focusing on R&D and design to enhance the country’s competitiveness that will be granted an eight-year corporate income tax exemption without being subject to an exemption cap:
- Economic forest plantation (except for Eucalyptus)
- Creative product design and development centre
- Manufacture of aircraft or aircraft parts, such as airframe, critical parts, appliance equipment or other components
- Manufacture and/or repair of unmanned systems for national defence and parts used in the manufacture and/or repair
- Electronics design
- Software
- Production of electricity or electricity and steam from garbage or refuse-derived fuel
- Energy Service Company (ESCO)
- Food innovation industrial zone
- Industrial zone or technology zone
- Cloud service
- Research and development
- Bio and medical industries
- Advanced manufacturing industries
- Basic and supporting industries
- High-value services
- Creative and digital industries
- Biotechnology
- Engineering design
- Scientific laboratories
- Calibration services
- Human resources development
Conclusion
Incentives can be both tax and non-tax related and depend on the type of business activity. A more detailed list of activities can be found on the BOI’s website.
If you are interested in opening a BOI company in Thailand or a Thai Limited Company, please contact us for a Free Consultation. We can also assist you with your Work Permit & Visa needs
Tel: +6620360600
Line: https://lin.ee/sqS7VlQ
WhatsApp: https://wa.me/66620155533
Website: https://unionspace.co.th
