BOI (Board of Investment) Promotion in Thailand

Reviewed by ThaiLawOnline, a licensed Thai law firm practising in Thailand since 2006. Thai lawyer of record: Wichuda Atthamethakon, LL.M., Thai Bar Licence 3149/2556.

Last updated on September 5, 2026

The BOI (สำนักงานคณะกรรมการส่งเสริมการลงทุน, the Board of Investment or Thailand Board of Investment) is the government agency, attached to the Office of the Prime Minister, that grants investment promotion privileges under the Investment Promotion Act B.E. 2520 (1977) to projects in activities Thailand wants to attract. A promoted company can be wholly foreign-owned, may own the land it operates on, can bring in foreign experts outside the usual quota and, depending on its category, pays no corporate income tax for several years. For a foreign investor, BOI promotion is the cleanest route around the 49% ownership limit of the Foreign Business Act.

What BOI promotion gives a company

Tax incentives depend on the activity category. The guide sets out the current scale: up to 13 years of full corporate income tax exemption for the top A1+ category, 8 years for A1 and A2 (the A2 exemption capped at the investment amount), 5 years for A3 and 3 years for A4. Projects in strategic zones can add a 50% reduction in corporate income tax for a further 5 years. Machinery and raw materials for export production enter free of import duty, dividends paid out of promoted profits are exempt during the holiday, and some projects deduct twice their transport, electricity and water costs for up to 10 years.

Non-tax incentives matter as much. A promoted company may be 100% foreign-owned in an activity that the Foreign Business Act would otherwise restrict, receiving a Foreign Business Certificate rather than needing a licence. It may own land for its operations despite the Land Code, and it is exempt from the 4:1 Thai-to-foreign employee ratio for work permits.

Applying for promotion in practice

The application is filed online with the BOI before the company invests. The minimum investment is generally 1,000,000 baht, excluding land and working capital, although specific activities set much higher floors. The BOI decides within 40 working days for projects under 200,000,000 baht, 60 working days up to 2,000,000,000 baht and 90 working days above that. After approval the investor must register the Thai company within 6 months and bring in the required foreign capital within 4 months, then collect the promotion certificate.

Foreign experts and their families obtain visas and work permits through the One Start One Stop Investment Center in Bangkok, usually within days rather than weeks. The common mistake is treating promotion as a formality: a promoted company must file progress reports at 6 months, 1 year and 2 years, keep separate accounts for promoted and non-promoted activities, and pass a compliance audit by an approved auditor after 3 years. Breaches lead to revocation and retroactive tax assessment.

BOI compared with a Foreign Business Licence

Both routes let a foreigner control a Thai company, but they work differently. A Foreign Business Licence is discretionary permission to run a restricted business with no tax benefit attached; the BOI grants privileges only for activities on its promotion lists, and a company outside those lists cannot use it. The Treaty of Amity is a third route, open to Americans only.

The privileges are not permanent. If the project changes, is sold or stops meeting its conditions, the BOI can withdraw the certificate and the company falls back under the ordinary rules, including the Foreign Business Act limits. The recurring problem is a company that drifts away from the promoted activity without telling the BOI.

Frequently asked questions

See also: Foreign Business Act, Foreign Business Licence, 4:1 employee ratio, BOI benefits in Thailand, how to apply for BOI promotion and BOI, FBL and Treaty of Amity compared.