Ease all your confusion on how to proceed with the board of investment in Thailand.
Thailand has taken the highway to enhance its economy. What remains concrete evidence of such efforts is the board of investment in Thailand. However, many business owners can find BOI a complicated process. If you need more knowledge about the BOI in Thailand, through this post, get a detailed understanding of BOI and its advantages. You will also learn about the best sources through which you can easily complete the verification of your BOI application.
What Is a BOI privilege in Thailand?
The board of investment in Thailand is a government-based agency. The core focus of this organization is to encourage international investment in Thailand. They provide foreign investors and entrepreneurs in Thailand to own their own businesses. If a foreign business gets BOI verification in Thailand, they are liable to various tax incentives and other amenities.
A distinct understanding of BOI features is as follows:
Businesses can exempt themselves from corporate income tax for some time.
Reduced or no import duties on transporting raw materials, machinery, and essential commodities.
Much lesser cost of facilities like the supply of water, construction elements, and low electricity cost.
Chance to get 100% foreign ownership. This means the entrepreneur can also build workers and employees from a foreign country. Through BOI investment promotion, Visas and work permits for such employees can be easily prepared within a day.
Entrepreneurs benefit from sending money to other countries in foreign currency. Further, as they gain full foreign ownership with BOI, they can protect their land from being nationalized.
However, the entire process can be confusing and hectic for entrepreneurs who need to learn how the BOI application functions in Thailand. So what can be the right solution for such scenarios?
How Can You Apply for a BOI Application?
There are many advantages of having a BOI verification before starting a business in Thailand. However, one mistake in the application can cancel your chance to get the best BOI benefits. This is when a third-party BOI application manager can be the best help. Such networks can take your business's BOI application in Thailand as their own. Some of the most assuring features of hiring such networks range from BOI application submissions to giving you the necessary updates throughout the process.
Comments