Looking to expand your business in Thailand with fewer restrictions and stronger incentives? A BOI promotion / BOI company setup can open access to tax exemptions, easier work permits, and other investment advantages, i.e., if your business qualifies and plans correctly. Here is how to approach the process in a way that gives you the best possible outcome.
Engage a Local Agency with End-to-End BOI Experience
What is the easiest way to set up a BOI-registered business without getting stuck in red tape? Well, for one, you can hire professionals who understand every stage of the process from document preparation and visa support to business banking services and long-term filings.
Did you know that each step affects the next? This means that mistakes made early on can delay your approval or limit your access to incentives later.
A local team with complete BOI experience can help you meet requirements the first time and make sure nothing important falls through the cracks.
Match Your Business Activities to BOI-Promoted Categories
Which types of businesses are supported by the Thailand Board of Investment?
The BOI promotes targeted industries that bring value to the Thai economy. This includes the following:
- Manufacturing
- Tech and innovation
- Food production
- And many more.
However, simply falling into a category is not enough because you must clearly show in your proposal how your business supports that sector’s goals.
Making a strategic match between your business model and a promoted activity not only improves your chances of approval, but also affects which incentives you can apply for later on.
Maximise Benefits by Structuring for Tax and Non-Tax Incentives
Getting the most out of the BOI system starts with how you shape your business from day one. This includes deciding whether you should prioritise tax exemptions or look at non-tax options like 100% foreign ownership or access to certain land rights. Some industries naturally lean toward one over the other. If you’re planning to invest heavily in equipment, the tax side might matter more. If your priority is flexibility or location, non-tax perks could be the real value. Make the structure work for your end goals, not the other way around.
Build a Timeline Around BOI Milestones and Reporting Deadlines
There are strict time frames you’ll need to plan for after getting BOI approval, which means you simply can’t start operations whenever you’re ready. Milestones like importing machinery or finishing your premises have to be met within fixed periods, or you risk losing part of your benefits. Think of these deadlines as checkpoints, not suggestions.
Having a clear internal timeline mapped to each requirement helps you stay on track. What’s more, coordination becomes even more important, if multiple teams or vendors are involved, in order to avoid any missed steps or last-minute rushes.
Integrate BOI-Specific Accounting and Compliance Procedures
Once you’re approved, your accounting setup needs to be more robust than a typical Thai business. From day one, your records must reflect BOI rules, which often include additional reports, audited financials, and cross-checks tied to your investment project.
Don’t wait until year-end to figure things out. Build your system early with these standards in mind.
It also helps to work with advisors or accounting teams familiar with this framework so that you can:
- Reduce risks
- Prevent costly corrections
- Keep all your earned privileges intact
Want to learn more? Set a discovery call with Acclime today.