Guide for foreign investors wanting to obtain BOI promotion in Thailand

         In the first three quarters of 2022 (January-September), the Board of Investment (BOI) granted investment promotion to 1,247 projects, for a total of 439,090 million baht. Among this number, investment promotion was granted to 12 targeted industries and foreign direct investment (FDI), accounting for 275,624 million baht. China invested the most, 45,024 million baht, followed by Taiwan, 39,256 million baht, and Japan, 37,591 million baht. Most of the investments were in the automobile industry and automobile parts, electric and electronic appliances, agricultural and food industries, and petrochemical and chemical industries.

Foreign investors who are interested in investing in Thailand must follow eight simple steps: 

1. Potential BOI applicants should learn necessary information via www.boi.go.th or the BOI Central Office, BOI Regional Offices, or BOI Overseas 

2. Applicants submit the investment promotion application (in accordance with the business activities granted investment promotion by BOI) through the online channel only (e-Investment promotion at www.boi.go.th); 

3. Applicants make an appointment with a BOI officer within 10 working days from the date of application to clarify the project; 

4. BOI officials will consider the application and evaluate the business project. The time period for consideration is usually determined by the amount of investment value; that is, an investment valued at not more than 200 million baht will be considered within 40 working days after the application is accepted;, an investment valued at not more than 2,000 million baht will be considered within 60 working days after the application is accepted; and an investment valued at more than 2,000 million baht will be considered within 90 working days after the application is accepted; 

5. BOI officials will notify the applicant of the result within 7 working days from the date of approval of the minutes of the meeting; 

6. The applicants should respond to the investment promotion resolution within 1 month from the date of receiving the notification; there are 2 response methods; fill out the form via e-Investment promotion at www.boi.go.th, or fill out the form to apply for the promotion certificate form and submit supporting documents; 

7. BOI recipients may submit a request for a promotion certificate with evidence for consideration within 6 months in the 2 ways given in Number 6. 

8. BOI will issue a promotion certificate within 10 working days from the date the office receives the promotion certificate application form and complete evidence. 

Source : Wonderfulpackage
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