Being a Thailand BOI-owned company comes with many benefits. Some benefits include tax benefits, however, others aren’t tax. The following information will explain the tax benefits of registering a Thailand BOI company. It also explains the minimum capital investment requirements for the registration of the Thailand BOI company and how to get an BOI promotion certificate.
Benefits from tax-free being a Thailand BOI company
Your business could benefit from being a BOI company with its headquarters in Thailand in many ways. One is that you could bring in foreign workers and experts to Thailand to carry out your projects. In addition, you’ll be able obtain visas for spouses as well as children within an hour if you’re a BOI company.
However, being a BOI company in Thailand is not easy. There are a lot of rules and regulations you need to adhere to. First, you must sign up with BOI and the Department of Business Development and BOI. Additionally, you must submit a number of documents related to business. Third, you will need to visit the BOI headquarters on a regular basis.
Minimum capital investment required
The sum of money that an owner and other shareholders have invested in a company is called investment capital. For BOI companies, investment capital can be in the form of physical assets, cash or a mix of both. The capital can be used to buy equipment, construct buildings, or pay employees. The investment total cannot exceed 2 billion THB.
To be qualified to be an Thailand BOI company, the company must have an investment of THB 1 million (USD 30,000). The company must have at three shareholders and be registered in Thailand. Its activities should also meet the BOI requirements. Eligible industries include manufacturing and digital, agriculture, mineral exploration and technology development.
Cost of registration of a Thailand BOI company
The Thailand Board of Investment (BOI) is an organisation that encourages foreign-owned enterprises to establish operations in Thailand, is called the Thailand Board of Investment. Its goal is to attract foreign investment to Thailand and grow the economy. It offers numerous incentives for foreign investors, such as tax breaks, investments incentives as well as the possibility to bring experts or skilled workers into the country. A non-immigrant visa ‘B’ is required for those planning to establish an operation in Thailand.
You’ll need to put in at minimum one million Thai Baht in company capital when you plan to start a Thai company. Other requirements include hiring staff and purchasing machinery. You should consider hiring a legal representative to help you through the process.
Obtained a BOI promotion Certificate
Establishing an BOI company in Thailand has numerous advantages. One of the biggest is that an BOI company can be eligible for special incentives. These incentives include the potential to be 100% foreign-owned and lower requirements for hiring foreign employees. These incentives are advantageous for foreign companies who want to establish an office in Thailand.
To obtain an BOI promotion certificate requires satisfying a variety of requirements. First, applicants must establish a limited liability company that has at three shareholders and director. They also must transfer funds from abroad, usually at least 25 percent of capital. They should also state both the name of the investor and name of the company. They can also seek expert assistance when applying for an official business visa, should they need it.