What Is Board of Investment?
Thailand Board of Investment ( BOI ) is an bureau of the Government of Thailand to advance investing in that state. It provides investing information and services for investors. every bit good as many inducements. And it is operated under the Ministry of Industry and is the chief authorities bureau for promoting investing. The BOI is available to help you in legion ways. including:
Enhancing Competitiveness and Investment Facilitation
• Offers an attractive and competitory bundle of revenue enhancement inducements. • Imposes no foreign equity limitations on fabrication activities or on some service. • Provide aid in the proviso of visas and work licenses to ease entry and subsequent operation for a foreign-owned concern. • Waives limitations on land ownership by foreign entities.
Business Support Servicess
• Provides comprehensive information and advice on set uping operations in Thailand. • Arranges site visits. • Identifies possible providers. subcontractors. joint-venture spouses. • Provides utile contacts with cardinal public and private organisations. • Coordinates between the foreign concern community and other public bureaus The BOI besides acts as Thailand’s selling arm and actively promotes the state worldwide as one of the best investing locations in Asia. The BOI’s 13 abroad offices ( Tokyo. Osaka. Shanghai. Beijing. Guangzhou. Seoul. Taipei. Sydney. Frankfurt. Paris. Stockholm. Los Angeles and New York ) serve as Thailand’s forepart desks in interceding with possible investors.
• Assistance in Puting Up a Business
• Information on Investment Opportunities
• BUILD: Industrial Subcontracting
• Foreign Experts
• One Stop Service Center
• ASEAN Supporting Industry Database ( ASID )
• Foreign Experts Services Unit
• Investment Matchmaking
• Investor Club Association
Aid in Puting up a Business
The BOI offers a scope of valuable business-related services to the international investing community. The office helps prospective investors and promoted houses in obtaining official licenses and paperss required for carry oning concern. including visas. work licenses and lasting residence licenses. The BOI besides assists investors in deriving entree to public-service corporations such as H2O. electricity and telecommunications.
Information on Investing Opportunities
The Investment Services Center and the Regional Investment Promotion Division maintain comprehensive information on investing chances in Thailand. both by sector and by part. Information and investing advice is readily available to both Thai and foreign investors at no charge.
Physiques: Industrial Subcontracting
The BOI Unit for Industrial Linkage Development ( BUILD ) encourages growing in back uping industries in Thailand. BUILD provides information on farm outing chances and offers its support to purchaser houses seeking sourcing webs in Thailand. It helps little and moderate-sized Thai providers achieve criterions required to come in into productive farm outing agreements.
To assist investors from Japan learn about the Board of Investment’s policies. processs. and chances. the International Affairs Division includes a Nipponese investing expert.
One Stop Service Center
The BOI coordinated the constitution of a One-Stop Service Center for Visas and Work Permits. The centre can treat applications or reclamations of visas and work licenses within three hours. presuming all needed paperss are provided. In add-on. the centre handles many other minutess. including altering visa position ( to non-immigrant position from tourer or theodolite ) . payment of mulcts. and processing of re-entry casts. all within three hours or less. In order to hold working privilege under Thailand Board of Investment ( BOI ) . foreign experts and skilled workers have to follow the Investment Promotion Act 1977 and there are 2 subdivisions to be considered. Section 24 is the permission to foreign subjects for entry into the Kingdom for the intent of analyzing investing chances or executing any other act profiting investing.
The foreign experts and skilled workers will let to remain in Thailand from 3 to 6 months since the companies where they work or ain haven’t receive Investment Promotion Certificate yet. Section 25 is the permission to foreign subjects who are skilled workers. experts. partners and dependants of foreign experts and skilled workers in such figure and for such periods of clip. The foreign experts and skilled workers will let to remain in Thailand from 1 to 2 old ages since the companies where they work or ain have already receive Investment Promotion Certificate. The permission periods either 1 or 2 old ages will establish on the sort of activities which stated in Investment Promotion Certificate of the companies.
ASEAN Supporting Industry Database ( ASID )
The BOI developed the ASEAN Supporting Industry Database ( ASID ) on behalf of ASEAN as portion of that organization’s attempts to increase consciousness of back uping industries in member states. ASID serves as a regional “Yellow Pages. ” through which business communities can shop for cost-efficient merchandises that meet their company’s demands. They can compare designs and specifications and position catalogues online. thereby enabling them to do informed sourcing determinations. ASID besides offers ASEAN makers the chance to be marketed non merely within the part. but throughout the universe. as ASID is on-line. enabling possible clients to entree their information around-the-clock.
Foreign Experts Services Unit
To ease the procedure of conveying in foreign experts. either to carry on feasibleness surveies or who are skilled experts or technicians. the BOI has created a unit to hasten the paperwork involved. The Foreign Expert Services Unit works with companies and experts to attest the expertness of the foreign experts and technicians. and advises appliers about paperss required by the One-Stop Service Center for Visas and Work Permits.
The BOI provides investing matchmaking services to both Thai and Foreign investors seeking cooperation in the countries of engineering. direction and selling. In add-ons. the BOI offers a matchmaking service for investors in regional countries looking for joint-venture spouses from Bangkok and abroad. every bit good as for houses that want to put in provincial countries.
Investor Club Association
The Investor Club Association is a private rank organisation within the BOI. functioning the involvements and demands of Thailand’s investing community. Supplying the most up-to-date information on Thailand’s investing environment and regulations and processs refering investing publicity. the Investor Club Association distributes information and serves as a networking organisation for its members.
Investing Support Center ( ISC ) is one of many services provided by Investor Club Association ( IC ) which is to the full supported by Office of Board of Investment ( BOI ) . Its aim is to help all investors who are researching investing chance in Thailand through the construct of one halt service.
Functions of the division of the Board of Investment
General Administration Bureau
The General Administration Bureau handles general disposal. including finance. issue of publicity certifications. forces disposal. legal. etc.
Investing Selling Bureau
The Investment Marketing Bureau serves as the public dealingss and advertisement arm of the Board of Investment in order to heighten both Thailand’s image and foreign investors’ assurance in the Thai investing government. Its duties involve all facets of selling. including development of promotional runs. investing missions. client relationship direction. and designation of possible investors. It besides coordinates and supports BOI’s abroad offices in Frankfurt. New York. Paris. Shanghai. Tokyo. Los Angeles and Osaka
International Affairs Bureau
The International Affairs Bureau is involved with assorted facets of Thailand’s relationships with international organisations. First. it is responsible for dialogue and execution of both many-sided and bilateral understandings on trade and investing. such as investing protection. pacts on riddance of dual revenue enhancement. offseting responsibility. etc. Second. it coordinates with foreign authoritiess. international organisations. foreign embassies. and Chamberss of commercialism to advance non merely foreign investing in Thailand. but besides Thailand abroad investing. Third. it participates in treatments refering to regional cooperation understandings. such as APEC. UNCTAD. ESCAP. ASEAN. GMS. IMT-GT ( Indonesia Malaysia Thailand – Growth Triangle ) . etc. Fourth. it monitors. surveies. and analyzes foreign investing tendencies and conducts the one-year Foreign Investor Confidence Survey. which identifies how investors feel about the Thai investing government and the overall province of the economic system.
Investing Development Assistance Bureau
The Investment Development Assistance Bureau is in charge of supplying aid to investors. First. it fosters development of farm outing webs through its subordinate. the BOI’s Unit for Industrial Linkage Development ( BUILD ) . It besides manages the ASEAN Supporting Industrial Database ( ASID ) and its website World Wide Web. asidnet. org to heighten sourcing non merely in Thailand. but besides throughout ASEAN. Second. it promotes regional industrial development by supplying investors with information on investing locations. It besides coordinates and supports BOI’s regional offices in Songkhla ( Haadyai ) . Chiang Mai. Surat Thani. Chonburi ( Laem Chabang ) . Nakhon Ratchasima. Ubon Ratchathani and Phitsanulok. Third. it helps investors work out jobs that arise and helps to take hindrances to investing by organizing with other Tai authorities bureaus. such as the Customs Department. Revenue Department. etc. Fourth. it supports SMEs and community endeavors by placing concern chances that will have selling support.
Management Information Systems Bureau
The Management Information Systems Bureau ( MIS ) is responsible for pull offing BOI’s computing machine systems. both hardware and package. It provides a database to back up the BOI’s selling and operations and implements e-Government policy to ease electronic transmittal of informations between BOI and investors.
Investing Strategy and Policy Bureau
The Investment Strategy and Policy Bureau develop investing publicity programs and policies. First. it conducts research to place promising investing chances in Thailand and promotes engineering transportation. Second. it tracks economic indexs. collects investing statistics. and prepares monthly. quarterly. and one-year BOI activity studies. Third. the division handles all budgeting for the organisation. Fourth. it evaluates bing policy and processs to find how successful they have been in accomplishing authorities aims.
Investing Servicess Center
The chief map of the Investment Services Center is to help investors who would wish to set up their concern in Thailand. by supplying information about investing chances. prospective joint venture spouses. development of advertisement stuff and imperativeness releases. It besides looks after the One-Stop Service Center for Visas and Work Permits. which provides long-run visas and work licenses to foreign employees of BOI-promoted companies in 3 hours or less. In add-on. it manages a research library for investors and manages the content for the BOI’s Home Page. which is located at World Wide Web. boi. travel. Thursday.
Investing Promotion Bureau
There are 4 Investment Promotion Bureau.
1. Investing Promotion Bureau 1 ( Agro-Industry and Light Industries ) 2. Investing Promotion Bureau 2 ( Metallic elements. Metallic element Products. Machinery and Transport Equipment ) 3. Investing Promotion Bureau 3 ( Electronics and Electrical Industries ) 4. Investing Promotion Bureau 4 ( Chemical. Paper. Plastic. Services and Public Utilities ) These Investment Promotion Bureaus take attention of all facets refering undertakings in the industries under their duty. including undertaking assessment. reappraisal of machinery and natural stuffs submitted for revenue enhancement freedom. and project monitoring. Investors find this procedure rather convenient. as all communicating with the BOI can be conducted with merely one division. These divisions besides are responsible for roll uping and analysing information about industries under their duty. and administering it to interested investors.
Committee the Board of Investment
Mr. Kittirat Na-Ranong ( Deputy Prime Minister and Finance Minister ) as Chairman Mr. Pongsawat Sawatdiwat ( Industry Minister ) as Vice president
Over the past 20 old ages. overall international trade with Thailand has grown 600 % . Manufacturing exports in peculiar have increased to where they accounted for 81 % of the country’s entire exports in 2011. Such growing. aided in portion by the nation’s bilateral trade understandings with Japan. Korea. China. India. New Zealand and Australia. has led Thailand to upgrade its logistics substructure and expertness. Currently. the logistics industry in Thailand is dominated by foreign companies. Its top 10 cargo forwarders are Maersk Logistics. K & A ; N. DHL. UPS. Schenker. Panalpina. Phoenix International. BAX Global. Agility. and UTI. [ movie ]
Thailand is geographically positioned to go one of Asia’s major trading hubs. This is peculiarly true for the airfreight. hauling and railroad industries. Situated within a 5 hr flight from Asia’s major metropoliss. Thailand has late aspired to go ASEAN’s air lading hub after opening the 18th largest international airdrome in the universe. Uniting this with Thailand’s well-developed. value-added industries. the state could potentially go on to bask its high growing and face an inflow in foreign investing from those companies seeking to be a portion of Asia’s progressively complex trade paths. After the completion of the corridor that will associate Southeast Asia with China. Thailand will witness heavy trade flows among these states. Thailand’s trade activity will spread out even further when the 10 member states of ASEAN launch the ASEAN Economic Community. or AEC. in 2015 as a seamless market of 600 consumers.
Due to Thailand’s fabrication art in Southeast Asia. Thailand has potential in going a distribution centre with these new route linkages and extended main road system. Additionally. foreign 3PLs are quickly increasing their market portion in the retail and consumer goods sectors. Sing this chance and huge betterment in substructure. many LSPs could get down spread outing their range of concern from express mail services to freight send oning. With the Thai government’s blessing to increase its budget. the State Railway can revamp the full railroad web in Thailand. Heavy trust on hauling will so switch to railway. making greater efficiency for long distance travelling every bit good as diminishing the overall logistics costs in Thailand. Additionally. because Thailand is a bigger exporter than importer. it sends out more transporting containers than it receives.
Presently. these containers are non manufactured in Thailand itself. and Thai exporters must pay to hold approximately 1 to 1. 5 million empty transporting containers sent to the state every twelvemonth. At a cost of about US $ 200 to 300 per container. the conveyance of empty transportation containers costs Thailand US $ 450 million per annum. Costss would be greatly reduced if the transportation containers could be built domestically. instead than in Malaysia. the current transportation container production hub.
Constructing transporting containers in Thailand presents a good investing chance non merely because it promises to wipe out or at least cut down the costs associated with directing empty containers to their filling points. but besides because the demand for these containers continues to turn. Transporting container edifice besides has great promise throughout Asia. as the chief transportation container paths expected to turn in the following 10 old ages are those within Asia and those from North America and Europe to Asia. Furthermore. of the 25 largest container ports in the universe. 16 are in Asia. and merely six are in Europe and three in North America.
Thailand Board of Investment encourages aliens to put in specific activities and investing zones. and there are many Thailand BOI privileges for those who have investings in Thailand. The following are privileges granted to those who invest in Siam:
BOI Thailand Benefits:
– Permission for foreign investors to ain land
– Permission to run under 100 % foreign ownership
– Exemption from work license and visa regulations
– Exemption of import responsibility on machinery
– Corporate income revenue enhancement freedom for up to 8 old ages
– Deduction of Transportation. Electricity and Water Costss
– Deduction of Project’s Infrastructure Installation
– Exemption of import responsibility on natural or indispensable stuffs used in the fabrication of export merchandises for 5 old ages
– Permission for foreign technicians. experts and their partner or dependants to work and remain in Thailand
The followers are some promoted activities which BOI Thailand offers particular privileges:
– Agriculture & A ; Agricultural Products
– Undertakings with direct engagement in technological and human resource development
– Industrial zones for environmental saving. Waste H2O intervention
– Mining. Ceramics & A ; Basic Metallic elements
– Light Industry
– Metal Products. Machinery & A ; Transport Equipment
– Electronics Industry & A ; Electrical Appliances
– Chemicals. Paper & A ; Plastics
BOI Thailand enrollment procedure:
Thailand BOI Certificate
Apply to obtain BOI Thailand publicity privileges and benefits Thai Legal will fix an application signifier for the publicity certification. so make full out and direct to the Thailand BOI Office together with other paperss required by Thailand BOI. This procedure will take about 4 yearss. Within 10 yearss. you will hold to do a presentation to the Thailand BOI in respects to your concern program. Our staff will attach to you to the meeting with the Thailand BOI. Once the application has been approved. you will have an investing publicity certification within 60 yearss. The promoted company must follow the conditions laid out in the Certificate.
second measure: Thailand Company Registration
When you get a presentment of blessing. we will so help you to put up a Thai company. After enrollment is complete. TILA Legal will register the company’s TAX ID card and VAT certification. so subject them to the Central Filing Office of the Revenue Department. If needed. we will fix needed paperss to open a corporate bank history. The company managers will hold to show themselves to the bank. This measure will take about 1 hebdomad. If any signers for the bank history are aliens. some bank will necessitate each of the foreign signers to subject a valid work license prior to opening the history. With our firm’s BOI Thailand service. the application for BOI Thailand privileges is fast and easy. Your company can be free from Thai revenue enhancement for up to 8 old ages.