Many entrepreneurs across the world always look for a suitable place to do business with. Thailand is one of the famous countries in Asia that offers a dynamic business gateway for investors because of its growing economy, competitive human resources, modern infrastructure, and strong support from the government to the investors.
Because of these advantages, many businessmen apply for a BOI Company in Thailand to expand their businesses in Asia. To entice more investors to invest in Thailand, the Thai government has mandated the BOI to hasten the process of business application. In this way, entrepreneurs need not worry about long periods of approval.
- Machinery, Metal Products, and Transport Equipment
- Ceramics, Mining, and Basic Metals
- Light Industry
- Chemicals, Plastics, and Paper
- Electronic Industry
- Public Utilities and Services
Procedures in applying for a BOI Company in Thailand are simple and promptly facilitated by the personnel of the agency.
- Submission of Application to the BOI
- BOI Project Evaluation
- BOI Approval or Non-approval
- BOI Notification to investor
- BOI Issuance of Certificate
- Investors request for Incentive Utilization
- Investors request for a start-up of their operations
There are several documents needed when applying for a BOI Company in Thailand to be submitted to the BOI:
- Two sets of BOI application form – for all projects
- Individual applicants – national identification card or passport
- Juristic corporations must submit a copy of the present certificate of registration that is issued 6 months before the application
- Copy of the latest financial statements
- Special Power of Attorney for an authorized person with documentary stamps
- Authorized person’s national identification card
Investing in Thailand offers a variety of benefits to the investor. Living in Thailand is inexpensive unlike other metropolitan areas in the world. The low cost of living makes it comfortable for investors while enjoying an enhanced lifestyle at a low cost. Thailand is catching up with the most modern facilities and infrastructures that make it at par with other world-class cities around the world.