Best Board of Investment (BOI) Lawyers in Bangkok Noi

About Board of Investment (BOI) Law in Bangkok Noi, Thailand

The Thailand Board of Investment is the national agency that grants investment promotion to qualified projects across the country. BOI promotion provides tax and non-tax incentives aimed at encouraging technology, innovation, higher value manufacturing and services, and the development of Thailand’s targeted industries. Bangkok Noi is a district within Bangkok, and businesses based there can apply for BOI promotion under the same national framework. The location can affect practical permitting and suitability, since Bangkok Noi is primarily urban and residential, which often favors office based operations, digital services, research and development, medical services, design, and headquarters functions rather than heavy manufacturing.

BOI promotion is governed by the Investment Promotion Act and BOI notifications that list eligible activities, conditions, and incentive levels. Promotion can ease foreign ownership restrictions, allow land ownership for the project, streamline visas and work permits for foreign experts, and grant tax benefits such as corporate income tax holidays and duty exemptions on machinery and raw materials.

Why You May Need a Lawyer

A BOI application must match your business model to a specific promoted category, satisfy technical and capital requirements, and anticipate compliance duties. A lawyer can help you assess eligibility, structure the entity, and prepare the application to reflect accurate technical content and financial plans. Many applicants need guidance on how BOI interacts with the Foreign Business Act and whether a Foreign Business Certificate or additional sector licenses will be required.

Legal counsel is often needed to align shareholder and director arrangements with BOI conditions, evaluate whether 100 percent foreign ownership is feasible, and plan for land or long term leasing in Bangkok Noi. Counsel can also manage visas and work permits through BOI facilitated channels or the SMART Visa program, coordinate factory or building permits where applicable, and address environmental impact requirements for sensitive activities. After promotion is granted, ongoing compliance, reporting, and customs procedures benefit from legal oversight to avoid loss of incentives.

Local Laws Overview

Investment Promotion Act and BOI notifications. These set the framework, eligibility lists, required project conditions, and incentive levels. Incentives typically include corporate income tax exemptions for a set period depending on activity, import duty exemptions or reductions on machinery and raw materials, and non-tax benefits such as relaxed foreign ownership, land ownership for the project, facilitation of visas and work permits, and streamlined customs. BOI policies are periodically updated, with emphasis on targeted industries such as digital, smart electronics, medical and biotech, advanced agriculture, and activities aligned with the bio circular green economy.

Foreign Business Act. Many service activities are restricted to Thai nationals unless an exemption applies. BOI promotion can allow a foreign promoted company to obtain a Foreign Business Certificate for the approved project, which serves as an exemption from the restrictions for that project. Some activities remain restricted or require additional licensing.

Corporate and tax laws. The Revenue Code governs corporate income tax, withholding tax, value added tax, and stamp duty. BOI tax holidays pause corporate income tax on net profits for a number of years, subject to caps and conditions. After the holiday, normal tax applies. Transfer pricing rules, related party disclosures, and accounting standards must be followed. Customs laws apply to duty exemptions on imported machinery and raw materials, with controls on timelines and usage.

Labor and immigration. The Labor Protection Act, Social Security Act, and related rules govern employment terms, working hours, and benefits. For foreign staff, visas and work permits are handled through BOI facilitated channels, and certain promoted industries can use the SMART Visa program. BOI companies typically do not face the standard Thai to foreign employee quota used for non promoted firms, but qualifications and job scopes must align with approvals.

Sector specific and local permits. Depending on the activity, you may need approvals under the Factory Act, Building Control Act, Hazardous Substances laws, medical device or pharmaceutical regulations, or telecommunications and digital services rules. Environmental laws may require an environmental impact assessment for certain projects. In Bangkok Noi, Bangkok Metropolitan Administration zoning and building controls are important, and heavy manufacturing is usually unsuitable. Office, laboratory, clinical, and small scale production must comply with building use, safety, and neighborhood regulations.

Land and property. The Land Code generally restricts foreign land ownership, but BOI can permit land ownership for the specific promoted project use. Many companies in Bangkok Noi instead use long term leases or strata title office space. Any land ownership or lease arrangement for a BOI project must match the project site stated in the BOI approval and comply with local planning rules.

Frequently Asked Questions

What is the BOI and how does it relate to Bangkok Noi

The BOI is a national agency that grants investment promotion across Thailand. Companies located in Bangkok Noi apply under the same national rules. The district location mainly affects local permitting, building use, and the type of activity that is practical in an urban area, but eligibility and incentives are determined by national BOI criteria.

Which business activities are eligible for BOI promotion

Eligibility is set by BOI notifications and focuses on higher value activities such as software and digital services, research and development, medical services and devices, smart electronics, automation, advanced materials, biotech, logistics centers, and professional services with significant technology content. The list is specific and regularly updated, and each activity has conditions on technology level, minimum capital investment in machinery or equipment, and performance metrics.

What incentives can a promoted company receive

Typical incentives include corporate income tax holidays for a fixed number of years based on activity type, exemptions or reductions of import duties on machinery and raw materials, permission for foreign majority or full ownership for the promoted activity, permission to own land for the project, expedited visas and work permits for foreign experts, and streamlined customs procedures. Additional merit based incentives may be available for projects with research and development, technology transfer, human capital development, or environmental benefits.

Does BOI promotion allow 100 percent foreign ownership

Yes, many promoted activities allow 100 percent foreign ownership. BOI promotion can also provide an exemption from Foreign Business Act restrictions for the approved project through a Foreign Business Certificate. Some activities still require additional sector approvals, and shareholding may be conditioned by the specific category.

Can a BOI company own land in Bangkok Noi

BOI can permit a foreign promoted company to own land for use in the promoted project, subject to conditions and approvals. In practice, many Bangkok Noi projects use long term leases or office strata because of urban planning constraints. If land ownership is pursued, it must align with zoning and building controls and the land can be used only for the promoted project.

What is the application process and timeline

The process starts with eligibility assessment, preparation of a detailed application describing technology, processes, capital, employment, and projected benefits, then submission through BOI’s online system. An interview or hearing with BOI officers is common. Small and medium projects are often decided within a few weeks to a few months, while larger or sensitive projects take longer. After approval, the company must accept conditions, incorporate or adjust its corporate structure, and meet milestones such as importing machinery and starting operations within specified timeframes.

Do I still need other licenses after BOI approval

Yes. BOI promotion does not replace sector licenses, factory or building permits, professional licenses, or environmental approvals. For example, a medical device company may still need product registration, and a data center may need telecommunications and building safety approvals. BOI promotion often eases the foreign ownership aspect and provides incentives, but other permits still apply.

How do visas and work permits work for BOI companies

BOI companies receive facilitation through a one stop system for visas and work permits. Quota restrictions are relaxed compared with non promoted companies, and qualified projects may use the SMART Visa program for experts, executives, investors, and startup founders in targeted industries. Job positions and qualifications must match the approved project plan and supporting documents.

How do taxes work during and after the BOI incentive period

During the corporate income tax holiday, eligible net profits from the promoted activity are exempt up to a cap and for a set number of years. Some activities also receive additional deductions or accelerated depreciation. After the holiday, normal tax rates apply. Value added tax, withholding tax, and transfer pricing rules apply throughout. Duty exemptions on machinery and raw materials are subject to import declarations, usage controls, and timelines.

What are common pitfalls and how can I stay compliant

Common pitfalls include choosing the wrong BOI category, underestimating technical requirements, missing machinery import or operation start deadlines, mixing promoted and non promoted revenues without proper segregation, and failing to obtain required local permits. To stay compliant, maintain a compliance calendar, file required BOI reports, keep clear cost and revenue segregation for the promoted activity, update BOI when making material changes, and conduct periodic legal and tax reviews.

Additional Resources

Thailand Board of Investment main office and its investment promotion divisions, which handle applications, hearings, and post approval compliance.

One Start One Stop Investment Center in Bangkok, which provides coordination for company registration, tax, immigration, and labor matters for investors.

Department of Business Development at the Ministry of Commerce, which handles company incorporation, changes in corporate structure, and issuing the Foreign Business Certificate where applicable.

Ministry of Industry and the Department of Industrial Works, responsible for factory licensing, machinery registration, and certain environmental and safety permits.

Bangkok Metropolitan Administration departments for zoning, building control, and local operating permits in Bangkok Noi.

The Revenue Department for tax registration, corporate income tax, VAT, and transfer pricing guidance.

Immigration Bureau and the One Stop Service Center for Visa and Work Permit in Bangkok for visas, work permits, and the SMART Visa program.

Social Security Office for employer registration and employee benefits compliance.

Office of Natural Resources and Environmental Policy and Planning and related environmental agencies for environmental impact assessment where required.

Industry associations and chambers of commerce that can provide sector specific insights and practical guidance on BOI processes.

Next Steps

Clarify your business model and map it to BOI eligible activities, including the technology, processes, and value creation you can demonstrate. Conduct a feasibility study covering capital expenditure, hiring plans, and location needs in Bangkok Noi, and consider whether the activity suits an urban district.

Engage a lawyer to perform an eligibility review, advise on shareholding and governance, and design a regulatory plan covering BOI, the Foreign Business Act, sector licenses, and local permits. If foreign ownership is intended, plan for a Foreign Business Certificate linked to the BOI project.

Prepare documentation for the BOI application, including process descriptions, machinery lists and specifications, financial projections, staffing plans, and a timeline. Coordinate with technical advisors to ensure the application meets the detailed criteria of the chosen category.

Submit the application through the BOI system and prepare for an interview. After approval, accept conditions by the stated deadline, incorporate the company or amend its structure, register for tax and social security, open bank accounts, and bring in capital as required.

Secure your premises in Bangkok Noi with leases or land arrangements consistent with zoning and building rules, and apply for any factory, building, or sector permits. Use BOI facilitated channels to obtain visas and work permits for foreign personnel.

Set up compliance systems for BOI reporting, customs control over machinery and raw materials, tax filings, labor law compliance, and environmental and safety obligations. Maintain clear segregation of promoted and non promoted revenues and costs, and notify BOI before making material project changes.

If you need legal assistance now, schedule an initial consultation with a lawyer experienced in BOI matters. Bring a short business plan, a list of intended activities, details of the proposed site in Bangkok Noi, and any questions on ownership, permits, staffing, and timing. This preparation will help you receive tailored advice and proceed efficiently.