BOI application guide

Thailand’s Board of Investment (BOI) offers an excellent pathway for foreign businesses to establish and grow with strong government support. This BOI application guide explains how foreign companies can prepare and apply successfully. But while the incentives are attractive, the application process can be complex without proper guidance.

This article walks you through how to apply for BOI promotion — step by step — and gives you practical tips to increase your chances of success. 💡

1. What Is BOI Promotion? 🤔

BOI is a government agency that promotes investment by offering tax incentives, import duty exemptions, 100% foreign ownership, and visa/work permit support for eligible businesses.

It’s ideal for:

  • 🚀 Tech startups
  • 🏭 Manufacturing and R&D companies
  • 🌏 Regional headquarters
  • 🌱 Clean energy, biotech, logistics, and more

2. Who Qualifies for BOI Support? ✅

Your company must align with an industry that’s in BOI’s priority sectors. Examples include:

  • 💻 Digital and software development
  • 🌾 Smart farming and food tech
  • 🚗 Automotive and EV manufacturing
  • 📦 Logistics and international trade
  • 🏥 Healthcare and medical devices

Your project must also meet minimum capital investment thresholds and contribute value to the Thai economy (e.g., technology transfer, employment, regional growth). 📈

3. BOI Application Process: Step-by-Step 📝

✅ Step 1: Project Planning & Feasibility

  • Prepare a clear business plan, project location, funding, and target market.

✅ Step 2: Submit an Online Application

  • Apply via BOI’s e-investment portal
  • Include business scope, ownership, capex, and financial projections

✅ Step 3: Interview with BOI Officers

  • A presentation or interview to discuss your project in more detail
  • Bring technical, financial, and operational details

✅ Step 4: Receive BOI Approval 🎉

  • If approved, you’ll receive a BOI promotion certificate

✅ Step 5: Register Legal Entity (if not done yet)

  • Incorporate your Thai company, open a bank account, and register for VAT

✅ Step 6: Claim Incentives & Comply with BOI Conditions 🎁

  • Enjoy tax benefits, import duty exemptions, and fast-tracked work permits
  • Submit annual reports and follow BOI conditions to maintain status

4. Documents You’ll Need 📄

  • 🗂️ Business plan
  • 📊 Feasibility study or projections
  • 🧩 Organizational chart
  • 🛠️ Machinery/equipment list (if applicable)
  • 📆 Timeline for implementation
  • 🛂 Passport or ID of shareholders/directors

5. Common Mistakes to Avoid ⚠️

  • ❌ Vague project goals or incomplete financial plans
  • ❌ Choosing an ineligible sector
  • ❌ Delays in follow-up after the interview
  • ❌ Not understanding post-approval compliance

6. How Fig Tree Can Help 🌳

At Fig Tree, we guide foreign businesses through the entire BOI journey — from strategic planning to paperwork, interviews, and long-term compliance. 🧭

We’ve helped startups and international firms gain BOI status smoothly, saving time and avoiding costly missteps. 💼

Final Thoughts 💬

BOI promotion can unlock huge advantages, but only if you prepare and apply strategically. With the proper guidance, you’ll move faster and with more confidence. 💪

If you need support, Fig Tree can manage the full process described in this BOI application guide, from planning and documentation to the BOI interview and post-approval compliance.

Thinking of applying for the BOI promotion? Let Fig Tree help you do it right. [Contact us] today for a free consultation. 🤝

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