Therefore, in order to promote Thailand's economic development and encourage foreign investment, the Thailand Investment Committee (hereinafter referred to as BOI) was established.
BOI is the competent department of foreign investment in Thailand, providing consulting services for foreign investment of Thai enterprises. Specifically, BOI is a government organization responsible for formulating preferential policies for investment incentives and providing assistance services to investors.
BOI has opened up another trade channel for foreign investors interested in investing in Thailand, screened powerful and qualified capitalists, avoided the complicated procedures of applying for "foreign business license" and reduced the industries that restrict foreign investment. By allowing foreign investors to hold land ownership in Thailand, allowing foreigners to work in Thailand without limiting the registered capital and the number of employees, reducing the import tax on machinery or raw materials and other preferential incentives, foreign investment in Thailand can be stimulated, economic development can be promoted, knowledge and technology can be promoted, and employment can be increased. It can be said that BOI has opened up a shortcut for foreign investors to invest and operate in Thailand. ?
At present, BOI is the preferred investment method for China enterprises in Thailand.
BOI open application industry
BOI has formulated corresponding incentive mechanisms for different types of industries. About 300 kinds of projects are open to foreign investment.
By industry type
The first category: agriculture and agricultural product processing industry.
Category II: minerals, ceramics and basic metals.
The third category: light industry.
The fourth category: metal products, mechanical equipment and means of transport.
The fifth category: electronic and electrical industries.
Category 6: chemical products, plastics and paper making.
The seventh category: service industry and public utilities.
The eighth category: developing scientific and technological innovation.
According to the importance of industry
It is divided into six grades: A 1, A2, A3, A4, B 1 and B2, and is entitled to additional preferential rights according to the project value.
Depending on the nature of the project
BOI attaches importance to investment promotion.
1. Industries that can improve Thailand's national competitiveness and increase the added value of agriculture, industry and service industries;
2. Environmental protection industry;
3. Promote the economic prosperity of southern Thailand;
4. Encourage industrial clusters that have an important impact on the industrial chain;
5. Develop special economic zones and strengthen the infrastructure construction industry in eastern Thailand;
Approved projects enjoy preferential tax and non-tax policies according to grades.
tax preference
The enterprise income tax shall be reduced or exempted for at least three years and at most eight years.
Exempt/reduce import duties on machinery/raw materials.
Exemption from income tax arising from dividend calculation
Water and electricity charges are double included in the enterprise expenses.
Non-tax preference
Free remittance in foreign currency
One-stop processing of visas and work permits for foreign technicians.
Allow land ownership in the name of the company
Most projects are wholly foreign-owned.
< investment promotion license > application for not establishing an enterprise as a legal person in Thailand. It's just an investment preference certificate. After obtaining the investment promotion license, foreign investors need to set up an enterprise legal person in Thailand according to the Thai civil and commercial law.
For projects approved by the Investment Promotion Committee, it is still necessary to apply for a "foreign business license" in the end, but it is easy to apply for a "foreign business license" at this time. Foreign-funded enterprises can officially start operations in Thailand only after obtaining this license.
& lt The application procedure for Investment Promotion License is:
Production industry: project establishment-application submission-project description-project approval-enterprise establishment-obtaining investment license-applying for foreign business license-importing machinery, equipment and raw materials-putting into production.
Service industry: project establishment-application submission-project description-project approval-enterprise establishment-obtaining investment permit-applying for foreign business license-starting service.
According to past experience, it will take about two to three months to complete the project.
Six months from the date of obtaining the investment license, 1 year, and two years are required to report the project progress to the investment Committee. Within 36 months from the date of obtaining the investment license, the project must be reported to the investment Committee, which will approve the project process after reviewing it.