BOI Promotion in Thailand: Incentives, Eligibility and How to Apply

The Board of Investment of Thailand (BOI) grants incentives to companies in activities the government wants to attract. For a foreign investor, BOI promotion is often the most efficient way to get 100% foreign ownership, corporate tax holidays, and simpler work permits and visas in one package. This guide explains who qualifies, what you get, and how the application works.

1. What BOI promotion gives you#

BOI incentives fall into two groups.

Tax incentives#

• Corporate income tax (CIT) exemption by activity group, under the framework the BOI has used since 2015:
• A1+ (knowledge-based, e.g. R&D, advanced technology): 10–13 years, no cap.
• A1: 8 years, no cap.
• A2: 8 years, capped.
• A3: 5 years, capped.
• A4: 3 years, capped.
• Group B: non-tax incentives only.

"Capped" means the total exempt tax may not exceed 100% of the investment, excluding land and working capital. Merit-based bonuses can add years or raise the cap.

• 50% CIT reduction for an additional period in some cases.
• Import duty exemption on machinery and on raw materials used for export production.
• Double deduction of certain costs (e.g. transport, utilities) in some zones.
• Merit-based incentives: extra exemption years or higher caps for:
• spending on R&D, advanced-technology training, local supplier development and support for Thai education or science institutions (competitiveness merits);
• locating in specified provinces or the Eastern Economic Corridor (area-based merits);
• joining industrial-area development programmes.

Non-tax incentives#

• Up to 100% foreign ownership in otherwise restricted activities, via a Foreign Business Certificate.
• Land ownership for the promoted business (subject to BOI approval).
• Work permits and visas for foreign experts and their families through the BOI's One Start One Stop Investment Center and single-window system.
• Permission to remit money abroad in foreign currency.

2. Who is eligible?#

Eligibility depends on whether your activity appears on the BOI's list of activities eligible for promotion. Categories include:

• agriculture and agro-processing;
• automotive, electronics, electrical appliances;
• medical devices, pharmaceuticals and biotechnology;
• chemicals, petrochemicals and bioplastics;
• digital industries: software, digital platforms, data centres, cloud services;
• services: regional headquarters (International Business Centre), R&D, engineering design, tourism-related, healthcare, education;
• creative industries and others.

General conditions (BOI criteria for project approval)#

• Minimum investment of 1 million THB (excluding land and working capital), and for many service activities at least 1 million THB of registered capital.
• A debt-to-equity ratio not exceeding 3:1 for new projects (expansions are assessed case by case).
• Value added at the level set in the activity conditions; the long-standing general benchmark is 20% of revenue, with exceptions for some agricultural and electronics activities.
• Use of new machinery (or second-hand machinery with certification).
• Environmental compliance.
• For digital activities, specific requirements on the number and qualifications of staff, and minimum software expenses or IT capital.

3. The application process#

1. Pre-consultation. BOI officers meet investors (in person or online) to confirm the right activity code and requirements. Free.
2. Prepare the application in the BOI e-Investment system with company details, project description, investment budget, machinery list, employment plan, and financial projections.
3. Submit and present. The BOI may invite you to present the project.
4. Approval. Under BOI service standards, the review runs from the day the file is complete:

• investment up to 200 million THB: 40 working days;
• 200 million to 2 billion THB: 60 working days;
• over 2 billion THB: 90 working days.

Larger projects go to BOI sub-committees and the Board.

5. Acceptance and Promotion Certificate. The BOI notifies the result within 7 days of the decision. You must confirm acceptance within 1 month of the notification, and apply for the Promotion Certificate within 6 months of accepting. The BOI issues the certificate within 10 working days of a complete request. If documents are incomplete, you get 30 days to correct them (BOI Investment Promotion Guide 2026).
6. Implement and report. Start operations within the deadline, apply for the "Commencement of Operations" certificate, and file progress and annual reports. Tax privileges start from the date of first revenue.

A company can apply before or after incorporation. An individual or a parent company may file first. The Thai company must be registered before you apply for the Promotion Certificate, which is issued in the company's name. In practice that means you incorporate within the 6-month certificate window that runs from your acceptance of the approval (BOI application guidelines; BOI Investment Promotion Guide 2026). Your approval letter states the exact dates. If you need more time, ask the BOI for an extension before the window closes. Do not let it lapse.

Sequence for a founder applying personally: pre-consultation, then file in e-Investment (form F PA PP 01), then the BOI decides (40 working days for projects under 200M THB), you are notified within 7 days, you accept within 1 month, you incorporate in Biz Regist (from about 1 day; longer with foreign signatories), you apply for the certificate within 6 months, and it is issued within 10 working days. Only then apply for the FBC under s.12 (through e-promotion-certificate.boi.go.th) and the expert positions.

4. Work permits and visas under BOI#

BOI-promoted companies can bring in foreign experts ("skilled workers and experts") with the BOI's approval of a quota of positions. Applications run through the Single Window Visa and Work Permit Center (or its online system), and approvals can be quick. The Immigration Order 12/2568 tests (2 million THB of capital and 4 Thai employees per foreigner) do not apply. Instead, the BOI approves positions for foreign experts based on qualifications, experience and salary, and visas and work permits are issued through the BOI's e-Expert/single-window system, now run from the TIESC centre at One Bangkok.

5. Common BOI activities for SMEs and startups#

6. Obligations#

BOI promotion is not free money. Promoted companies must:

• operate strictly within the promoted activity; non-promoted revenue must be separately accounted for;
• comply with conditions in the certificate (capital, machinery, staff);
• file the operating results report annually;
• not move promoted machinery without permission;
• seek approval for changes in shareholding where required.

Violations can lead to withdrawal of privileges and repayment of exempt taxes with surcharges.

7. BOI versus the alternatives#

8. How to tell if BOI is worth it#

BOI promotion is usually worthwhile if one or more of these applies:

• you will hire several foreign specialists;
• your activity is on List 3 and you want 100% ownership;
• you expect taxable profits within the tax-holiday window;
• you will import machinery or materials;
• you need to own land.

It may not be worth the reporting burden for a one-person consultancy with modest revenue, unless the ownership benefit alone justifies it.

9. Worked example: a digital agency#

The project. A Singapore-owned digital product studio plans a Bangkok team of 12 engineers: 10 Thai and 2 foreign. Selling software services to Thai clients is an "other service" under List 3 of the FBA.

Without BOI, the studio would need either a Thai majority shareholder or a discretionary Foreign Business Licence. Each foreign engineer's extension would also require 2 million THB of capital and 4 Thai employees.

With BOI promotion under the software-development activity:

The numbers. Suppose the studio reaches taxable profit of 8 million THB in year 3. Without promotion, tax at 20% would be 1.6 million THB, or a little less if the company qualifies for SME rates, which it would not with large capital. Under an uncapped exemption the tax is zero. Under a capped one, it is zero until cumulative exempt tax reaches 100% of the qualifying investment.

The trade-offs:

• annual operating reports to the BOI;
• keeping promoted and non-promoted revenue in separate accounts;
• staying inside the promoted activity's conditions.

Income from non-promoted activities is taxed normally.

A simple test: if the expected tax saving plus the value of 100% ownership and easier work permits exceeds roughly 150,000–300,000 THB a year in extra compliance cost (separate accounts, reports, BOI audits), BOI is worth it.

10. Timeline for a typical SME application#

11. Practical tips for a strong application#

• Choose the activity code with BOI officers before drafting; switching later costs months.
• Budget realistically; BOI checks that the investment actually happens.
• Show Thai employment growth and training plans.
• Keep accounting for promoted and non-promoted income separate from day one.
• Plan capital injection to satisfy both BOI conditions and banking documentation.
• Keep the BOI officer informed of material changes; amendments are easier than retroactive fixes.

Frequently asked questions#

Is there a minimum company size for BOI? The general minimum is 1 million THB investment excluding land and working capital, but each activity can set higher thresholds.

Can a foreigner apply personally? Yes. An individual or a foreign parent may file, and the certificate is issued to the Thai company once it is incorporated.

How long does BOI approval take? The service standard is 40 working days for projects up to 200 million THB, 60 for up to 2 billion THB, and 90 above that, counted from a complete file. Add 2–6 weeks for preparation and clarification questions.

Does BOI promotion give visas to my family? Dependants of approved foreign experts can generally obtain visas through the same system.

Can I lose BOI privileges? Yes, if you breach conditions; you may also have to repay exempted taxes.

Can a BOI company also sell non-promoted services? Possibly, but non-promoted revenue may need an FBL or other basis if foreign-owned, and is taxed normally.

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Related guides#

• Foreign Business Act Thailand: What Foreigners Can and Cannot Own
• Foreign Business Licence (FBL) in Thailand: Requirements, Fees and Timeline
• Thailand LTR Visa (Long-Term Resident): Categories, Requirements and Tax Benefits
• Corporate Income Tax in Thailand: Rates, SME Rates, Filing Deadlines