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 a national agency that promotes both Thai and foreign investment by granting tax and non-tax incentives under the Investment Promotion Act. While BOI policy and approvals apply nationwide, including in Bangkok Noi, local implementation must align with Bangkok Metropolitan Administration rules, zoning, and sector specific regulations. Applicants based in Bangkok Noi benefit from proximity to central regulators and the One Start One Stop Investment Center in Bangkok, which facilitates visas, work permits, and selected licensing processes.

BOI promotion can provide corporate income tax exemptions for a defined period depending on the activity, import duty exemptions on machinery and raw materials, eased restrictions on foreign ownership for promoted projects, permission for promoted companies to own land for project use, and fast track visas and work permits for skilled experts and executives. Projects must fall within BOI eligible activities and satisfy technical, capital, and compliance criteria.

Why You May Need a Lawyer

BOI strategy and compliance involve a mix of national rules and local practice. A lawyer can help you determine eligibility under the BOI activity list, structure your entity and shareholding to take advantage of foreign ownership allowances, navigate the Foreign Business Act where non promoted activities remain restricted, prepare and review application materials, and manage presentations to the BOI.

Legal support is particularly useful when aligning BOI incentives with tax planning, drafting shareholder and intercompany agreements to meet transfer pricing and thin capitalization expectations, securing land use, lease, or building permits in Bangkok Noi, and ensuring environmental and factory licensing compliance when applicable. Lawyers also assist with visas and work permits, including SMART Visa routes, employment contracts and labor law compliance, and ongoing BOI reporting, amendment requests, and post approval audits.

Local Laws Overview

Investment Promotion Act - The BOI grants incentives under this Act. Incentives commonly include corporate income tax exemptions for a set number of years based on activity category and merits, import duty exemptions on machinery and import duty reductions or exemptions for raw materials used in export production, non tax benefits like land ownership for promoted projects, and facilitation for bringing in foreign experts. The current policy emphasizes activity based and merit based incentives rather than location alone.

Foreign Business Act - Without promotion, many service businesses are restricted for foreign majority ownership and require a foreign business license. With BOI promotion, qualifying projects can receive a foreign business certificate that allows majority foreign ownership within the promoted scope. Activities outside the promotion remain subject to the Act.

Company and Tax Laws - Entities register with the Department of Business Development. Taxes are administered by the Revenue Department. The standard corporate income tax rate is generally applicable unless exempted under BOI. Value added tax, withholding tax, and transfer pricing rules still apply even when corporate income tax is exempt. BOI incentives typically do not exempt VAT obligations.

Labor and Immigration - Thai labor law governs minimum standards, benefits, and social security. Foreign staff require visas and work permits. BOI facilitated processes and the SMART Visa program can streamline entry for investors, executives, experts, and startups that meet defined criteria.

Land, Zoning, and Building Control - BOI promoted companies may be permitted to own land for the project. In Bangkok Noi, local zoning and building regulations under Bangkok Metropolitan Administration apply. Projects must meet Bangkok planning rules, which can limit certain industrial operations in dense urban areas and near the Chao Phraya River.

Environmental and Industrial Regulation - Depending on the activity, environmental impact assessment and related approvals may apply under environmental laws. Factories and certain controlled activities require licenses. Even office or service projects may need sector specific approvals such as healthcare, education, or digital platform compliance.

Customs and Trade - BOI promoted import duty exemptions are administered through customs procedures. Beneficiaries must maintain accurate records to claim and keep exemptions and to avoid clawbacks.

Data Protection and Sector Rules - If your project processes personal data, compliance with Thailand’s data protection law is required. Sector regulators, such as those for healthcare, telecom, fintech, and education, may impose additional licensing or compliance obligations.

Frequently Asked Questions

What is the BOI and how is it different from ordinary company registration

BOI is an investment promotion authority that grants incentives to eligible projects. Company registration creates the legal entity but does not grant incentives by itself. If approved by BOI, your company receives specified tax and non tax benefits tied to the approved project scope and conditions.

Does being located in Bangkok Noi change eligibility for BOI promotion

BOI eligibility is based primarily on activity type and merit criteria. Bangkok Noi does not provide additional local incentives, and urban zoning can restrict certain manufacturing. Many Bangkok based projects are in services, technology, healthcare, research, and regional headquarters. Location can still affect practical feasibility and environmental or building approvals.

What incentives can a BOI promoted project receive

Depending on the activity and merits, incentives may include corporate income tax exemptions for a defined period, import duty exemptions on machinery, duty reductions or exemptions on raw materials used in export, land ownership rights for the project, relaxed foreign ownership restrictions within the promoted scope, and streamlined visas and work permits for foreign experts.

Can foreigners own 100 percent of a BOI promoted company

Yes, for many promoted activities the BOI can support majority or full foreign ownership by issuing a foreign business certificate. Ownership must match the scope of the promoted project, and any activities outside the promoted scope remain subject to the Foreign Business Act.

How long does the BOI application process take

Timelines vary by sector, project size, and completeness of the application. Many projects receive decisions within a few months after submitting a complete application and attending any required interviews or presentations. Early engagement and thorough documentation often shorten the process.

What are the main conditions after approval

Conditions usually include investment timeline milestones, capital and machinery import plans, reporting obligations, use of approved technology, and environmental or safety measures. Tax incentives often require that accounts be properly audited and that goods or services be produced within the approved scope. Non compliance can lead to clawbacks or withdrawal of incentives.

Do I still need local permits and licenses if I have BOI promotion

Yes. BOI approval does not replace sector licenses, factory permits, building and zoning approvals, or professional licenses. In Bangkok Noi, you must also comply with Bangkok Metropolitan Administration rules for building control, signage, and local operations.

What is the SMART Visa and who qualifies

SMART Visa is a program that provides longer stay, fewer work permit requirements, and other advantages for investors, executives, experts, and startups in targeted industries. Applicants must meet defined qualifications such as investment thresholds, salary levels, expertise, or incubation approvals depending on the category.

Can I amend my BOI project after approval

Yes, but changes such as scope, location, machinery, or shareholding usually require BOI approval. Amendments should be requested before implementing changes to avoid non compliance or loss of benefits.

What if my project is not eligible for BOI incentives

Alternatives include Thai shareholder structures that comply with the Foreign Business Act, partnering with a Thai company, applying for other sector specific schemes, or restructuring your project to target eligible BOI activities. A lawyer can help evaluate options and risks.

Additional Resources

Thailand Board of Investment - Headquarters and the One Start One Stop Investment Center in Bangkok provide application guidance, investor services, and coordination with other agencies. You can visit their public counters in central Bangkok for consultations and submission support.

Department of Business Development - Handles company name reservation, incorporation, and corporate filings for limited companies, public companies, and branches.

Revenue Department - Provides guidance on corporate income tax, VAT, withholding tax, and transfer pricing documentation requirements that continue to apply during and after BOI incentives.

Bangkok Metropolitan Administration - Oversees zoning, building permits, signage, and certain local approvals that affect offices, labs, clinics, and retail in Bangkok Noi.

Department of Industrial Works - Manages factory licenses and environmental controls for industrial activities that may not be suitable for many Bangkok Noi locations due to zoning.

Immigration Bureau and Department of Employment - Coordinate visas and work permits. BOI promoted companies may process applications through investment focused service centers in Bangkok.

Office of Natural Resources and Environmental Policy and Planning - Issues environmental impact assessment approvals for designated projects where required.

Thai Industrial Standards Institute and sector regulators - Provide technical standards and approvals in areas such as medical devices, food, telecom, and other regulated fields.

Next Steps

Clarify your business model and target activity to see how it aligns with the BOI eligible activities list. Identify the scope located in Bangkok Noi and any functions that might need to be placed elsewhere due to zoning or environmental constraints.

Engage a lawyer to map eligibility, advise on foreign ownership options under the BOI and the Foreign Business Act, and design the optimal shareholding and intercompany structure. Ask for a compliance roadmap that addresses taxes, labor, visas, data protection, and sector licenses.

Prepare a robust application package that includes a business plan, technology or process description, investment and hiring plans, environmental and safety measures, and evidence that meets BOI criteria. Pre consult with BOI officers to confirm interpretations before filing.

Submit the application through the BOI system and be ready for clarifications and a presentation. Keep all assumptions and calculations consistent and supported by documents. Track deadlines for conditional approvals and promotion certificate issuance.

After approval, complete company registration, obtain the foreign business certificate if applicable, open bank accounts, sign leases that match zoning rules in Bangkok Noi, and register for tax and social security. Use BOI facilitated channels for visas and work permits for foreign staff.

Implement internal controls for BOI compliance, such as machinery lists, import duty exemption tracking, production records, and audit ready financial statements. Calendar all reporting dates and request amendments promptly if the project changes.

If issues arise, consult your lawyer early to communicate with BOI officers, negotiate solutions, and maintain eligibility. Early and accurate engagement usually preserves benefits and reduces risk.