Step-by-Step Guide to the BOI Thailand Application Process
Thailand has become one of the most attractive investment destinations in Southeast Asia. One of the main reasons is the investment privileges offered by the Thailand Board of Investment (BOI). These incentives help both local and foreign investors reduce costs, receive tax benefits, and simplify business operations in Thailand.
However, many investors still find the BOI application process complicated due to the multiple procedures, documents, and approval stages involved.
Understanding the correct process can significantly improve the chances of approval. In this article, M&A Advisory Co., Ltd. (M&A), a professional BOI consulting firm in Thailand, explains the 8 essential steps for applying for BOI promotion in Thailand, from project preparation to obtaining the BOI Promotion Certificate.
What is BOI Promotion in Thailand?
The Thailand Board of Investment (BOI) is a government agency responsible for promoting investment in industries that support Thailand’s economic development.
BOI promotion offers several benefits, including:
• Corporate income tax exemption
• Import duty exemption on machinery
• Import duty exemption on raw materials
• Permission for foreign ownership
• Visa and work permit facilitation for foreign experts
• Land ownership rights for promoted projects
These incentives make Thailand an attractive location for manufacturing, technology, logistics, digital businesses, and industrial investments.
8-Step Guide to the BOI Thailand Application Process
Step 1: Study BOI Promotion Information
The first step is to carefully review whether the business activity qualifies for BOI promotion and understand the relevant conditions, incentives, and investment criteria.
Investors can obtain BOI information and consultation through several channels, including:
• Investment Services Center
• One Start One Stop Investment Center (OSOS)
• Regional Investment and Economic Centers
• BOI Overseas Offices
Consulting with BOI specialists at this stage can help investors understand eligibility requirements and avoid mistakes during the application process.
Step 2: Prepare the BOI Application and Supporting Documents
Once eligibility is confirmed, investors must prepare the BOI application form and supporting documents.
Required documents may include:
• Company registration information
• Business plan and investment details
• Technology and production process information
• Machinery list
• Financial projections
• Environmental and operational information
Accurate documentation is essential, as incomplete or incorrect information may delay the approval process. Many companies work with BOI consultants to ensure compliance with BOI requirements.
Step 3: Submit the BOI Application
After preparing the documents, the application can be submitted to the Thailand Board of Investment.
Following submission, the applicant must:
• Contact BOI officials within 10 working days
• Schedule a project presentation or interview session
During this stage, applicants may need to explain the project details, investment plan, and expected economic benefits. Proper preparation is important to help BOI officials evaluate the project effectively.
Step 4: BOI Project Evaluation
After the presentation, the BOI will begin evaluating the project. The approval timeline generally depends on the investment value.
• Projects with Investment Not Exceeding THB 200 Million
These projects are typically reviewed by the Office of the Board of Investment (OBOI). Approval is usually granted within 40 working days after complete documentation is submitted.
• Projects with Investment Between THB 200 Million and THB 2 Billion
Medium-sized projects are reviewed by a BOI subcommittee. The process generally takes approximately 60 working days.
• Projects with Investment Exceeding THB 2 Billion
Large-scale projects require approval from both the BOI subcommittee and the BOI Board. The evaluation process may take up to 90 working days.
Note: The evaluation period begins only after all required documents have been submitted correctly.
Step 5: Receive BOI Approval Notification
Once the evaluation is completed, the BOI will notify the applicant of the result within 7 working days after the official resolution.
If additional clarification or revisions are required, the BOI may request further information before granting final approval.
Step 6: Accept the BOI Promotion
After receiving approval, the investor must submit the Promotion Acceptance Form to confirm acceptance of the BOI conditions and privileges.
This form must be submitted within 1 month from the approval notification date. Failure to do so may result in cancellation of the approval.
Step 7: Apply for the BOI Promotion Certificate
After accepting the promotion, the company must apply for the BOI Promotion Certificate by submitting additional documents related to project implementation.
This application must be completed within 6 months after accepting the promotion.
Step 8: Receive the BOI Promotion Certificate
The final step is receiving the BOI Promotion Certificate. Before issuing the certificate, BOI officials will verify that the project complies with the approved investment plan.
Once approved, the company officially becomes a BOI-promoted company and may begin receiving the granted incentives and privileges.
Why Work with a BOI Consultant?
Although the BOI process may appear straightforward, many companies face challenges such as:
• Preparing complex documentation
• Understanding eligibility requirements
• Presenting investment projects effectively
• Meeting BOI compliance timelines
Working with an experienced BOI consulting firm can simplify the process and improve the likelihood of approval.
A consultant can assist with documentation, project planning, presentation preparation, and communication with BOI officials throughout the application process.
BOI Consulting Services by M&A
At M&A, we specialize in helping investors successfully obtain BOI promotion in Thailand.
Our services include:
• BOI investment consulting
• BOI application preparation
• Project feasibility support
• BOI presentation preparation
• BOI compliance and certification support
With extensive experience in Thailand’s investment promotion system, our team helps businesses navigate the BOI process efficiently while maximizing investment benefits.
Conclusion
BOI promotion offers significant advantages for businesses investing in Thailand, but the application process requires careful preparation and compliance with BOI regulations.
By understanding the 8 key steps in the BOI application process, investors can better prepare their projects and improve their chances of success.
From studying BOI requirements to obtaining the Promotion Certificate, each stage plays an important role in securing investment privileges. With professional guidance from M&A, businesses can complete the BOI application process smoothly and confidently.
