Can a BOI company be 100% foreign-owned?

Yes. BOI-promoted activities are exempt from the foreign shareholding limits of the Foreign Business Act for the promoted activity, so the company can be wholly owned by foreign shareholders without Thai nominee shareholders or a Foreign Business Licence.

How long is the corporate income tax exemption?

Depending on the activity category, BOI grants corporate income tax exemption for up to 8 years, and in some high-value or R&D-intensive categories the cap on the exempted amount is removed. Activities with lower technology content may receive a shorter exemption or non-tax privileges only.

Does BOI make work permits easier?

Yes. Promoted companies use the BOI e-Expert and Single Window system, which is separate from the standard Ministry of Labour route. It removes the usual 4-Thai-employees-per-foreigner ratio for approved positions and processing is typically much faster than a standard work permit.

Can a BOI company own land in Thailand?

A promoted company may be granted permission to own land for its promoted activity — office premises and, where relevant, factory and staff accommodation — which an ordinary foreign-majority company cannot do.

How long does a BOI application take?

Preparing the application and feasibility documents usually takes a few weeks. After submission, BOI typically issues a decision within roughly 40 to 90 working days depending on the size of the investment, followed by acceptance of the promotion certificate and company registration steps.

BOI Thailand Benefits for Foreign Investors

The Thailand Board of Investment (BOI) promotes investment in activities the government wants to grow — manufacturing, digital and software, logistics, R&D, healthcare, tourism infrastructure and regional headquarters among them. A BOI-promoted business is still an ordinary Thai limited company; the promotion certificate simply attaches a package of privileges to the approved activity.

For foreign investors the two decisive benefits are tax and ownership. Promoted companies can be exempt from corporate income tax for several years, and they sit outside the foreign shareholding restrictions of the Foreign Business Act for the activity they were promoted for — no Thai majority shareholder and no nominee structure.

Tax privileges

Corporate income tax exemption: Up to 8 years, by activity category
Post-exemption reduction: 50% CIT reduction for up to 5 further years in designated zones
Import duty on machinery: Exemption or reduction for approved machinery
Import duty on raw materials: Exemption for materials used in export production
Dividends: Dividends paid from exempted profits are tax-free during the exemption period

Exact entitlements depend on the activity category in the BOI activity list and on the investment and technology conditions attached to the certificate.

Non-tax privileges

100% foreign shareholding in the promoted activity — no Foreign Business Licence and no Thai nominee shareholders.
Permission to own land used for the promoted activity, including office and staff accommodation where approved.
Fast-track visas and work permits for foreign experts through the BOI Single Window (e-Expert) system.
Exemption from the standard four-Thai-employees-per-foreigner ratio for approved positions.
Permission to remit foreign currency abroad for investment returns, loan repayments and expatriate salaries.

Is BOI right for your business?

BOI suits investors whose activity appears on the BOI list and who can meet the minimum investment, capital and reporting conditions — commonly a minimum investment capital of THB 1 million excluding land and working capital, plus a debt-to-equity ratio within BOI limits for new projects.

It is less suitable for small local service businesses, retail shops, restaurants and bars in Pattaya, which are generally not on the promoted list. Those normally run better as a standard Thai limited company with the relevant business licences, or with a Foreign Business Licence where the activity allows it.

Promotion also brings obligations: annual reporting to BOI, separate accounting for exempted and non-exempted income, and conditions that must stay satisfied for the life of the certificate. Your monthly accounting and annual audit need to be set up with that split in mind from day one.

How the application runs

Match the business plan to a BOI activity category and confirm the eligible privileges.
Prepare the application: project description, investment plan, financials and employment plan.
Submit online, then attend the BOI interview or presentation on the project.
Receive the approval letter and formally accept the promotion, usually within 30 days.
Register or restructure the Thai limited company and collect the promotion certificate.
Apply for visas and work permits through the BOI Single Window and begin operations.

Official activity lists and current criteria are published by the Thailand Board of Investment at boi.go.th. This guide is general information, not legal advice.

Frequently asked questions

The Thailand Board of Investment (BOI) is the government agency that grants promotion certificates to companies in targeted activities such as manufacturing, technology, digital services, logistics and R&D. A promoted company keeps its ordinary Thai limited-company form but receives a package of tax and non-tax privileges set out in the Investment Promotion Act.