What Is A BOI Company In Thailand
Thailand is a country full of business opportunities. It is adapting to the current changes in the world economy to be at par with other industrialized nations in terms of economic development through its innovative ideas and knowledge in worldwide trends. Thailand is recognized as the international centre of Southeast Asia for many business opportunities open to foreign nationals.
The rapid development of the technology industry in Thailand has boosted its economic growth which is comparable to many industrialized countries in Asia and in the world. A BOI company in Thailand is a government agency that promotes and encourages foreign investors to the country and has committed to the people to fully support the technology industry which includes research and development, innovation and science. It has dramatically improved its technology industry such as biotechnology, advanced materials technology, nanotechnology, and digital technology.
A domestic or foreign company that is registered with the BOI in Thailand can enjoy and avail the many advantages and benefits from the government. Some of the benefits of a registered BOI company in Thailand include substantial tax waivers, 4 hours of processing work permits, several work permits are granted even without the appearance of 4 employees in every permit application, and the possibility to own a real estate property particularly a land even if the majority of the controlling party are not Thai nationals. The BOI in Thailand has changed the procedures in the application of company permits that make the process a lot easier and convenient for both domestic and foreign investors.
To attract more investors to the country, the BOI companyin Thailand has developed incentives which also foster the skills of local workers as well as decentralize the base of the industry. Qualified businesses can also avail of the incentives, tax and non-tax, or both incentives. Registration with the BOI provides support for foreign shareholders which allows them to own 100% of shares.
The BOI registration is intended for large business investors who want to do business in Thailand. Investors must be ready with the pertinent documents required in the registration. There is a need for the assistance of a legal firm to ensure that the process of registration is done properly so as not to waste time and effort. Overall, BOI registration is all worth the effort of the investors because of the benefits and advantages it offers to them.