Best Board of Investment (BOI) Lawyers in Ko Pha Ngan

1. About Board of Investment (BOI) Law in Ko Pha Ngan, Thailand

The Board of Investment (BOI) is a Thai government agency under the Ministry of Industry that promotes investment across promoted sectors nationwide, including on Ko Pha Ngan. It offers incentives such as tax holidays, import duty exemptions, and non tax incentives to qualified projects. Projects located on Ko Pha Ngan that meet the BOI criteria can access these incentives after approval.

BOI promotion is available to both Thai and foreign investors, subject to sector eligibility, project size, and investment value. The island context can shape project design, especially in tourism, agro processing, and services that align with promoted activities. Applicants should prepare a strong business plan, comply with reporting requirements, and maintain ongoing compliance with BOI terms.

Processing and decision making are centralized, but BOI decisions consider local impact, infrastructure needs, and alignment with national development goals. The BOI website provides current guidelines, sector lists, and application procedures to help applicants in Ko Pha Ngan and elsewhere.

Source: BOI Official Site

“The BOI offers tax and non tax incentives to promoted activities in sectors such as manufacturing, services, and tourism to stimulate regional development, including islands like Ko Pha Ngan.”

Source: BOI Official Site

2. Why You May Need a Lawyer

Engaging a qualified lawyer is essential when pursuing BOI incentives on Ko Pha Ngan. Below are concrete, real world scenarios that commonly require legal counsel.

• Setting up a promoted hotel or eco-tourism venture on Ko Pha Ngan requires detailed sector assessment, a robust business plan, and documentation for BOI eligibility. A lawyer helps tailor the project description to meet promoted activity criteria and to prepare the required financial projections.
• Structuring a Thai-foreign joint venture or Thai majority company to access BOI incentives on the island ensures compliance with the Foreign Business Act and capitalization rules. A solicitor can draft shareholding arrangements, governance documents and capital structure that satisfy BOI and Thai law.
• Navigating land and property considerations for a BOI project on Ko Pha Ngan where foreigners face land ownership restrictions. A legal counsel can advise on lease arrangements, Thai partner ownership, and land use rights needed for hotel or resort development.
• Importing machinery and equipment for a promoted project and applying for import duty exemptions or tax incentives. An attorney helps prepare the necessary documentation and liaises with customs and BOI to avoid delays.
• Responding to BOI enquiries or appeals when a submission is incomplete or denied. A lawyer can coordinate evidence, respond to queries, and manage an appeal or re submission process.
• Ensuring ongoing compliance and reporting after BOI approval, including performance reporting and audits. A legal professional can design a compliance calendar and assist with annual submissions.

3. Local Laws Overview

Two key national laws govern BOI activities and foreign participation in Thailand, along with relevant property laws that impact island investments like Ko Pha Ngan.

• Investment Promotion Act B.E. 2520 (1977) - the fundamental framework that creates the BOI and defines eligible promoted activities, incentives, and application processes. The Act has been subject to amendments over time to reflect policy shifts and investment needs.
• Foreign Business Act B.E. 2542 (1999) - restricts foreigners from certain business activities unless special exemptions apply, such as BOI promotion or specific permissions. This Act shapes how foreign investors structure their projects on Ko Pha Ngan.
• Condominium Act B.E. 2522 (1979) - allows foreigners to own up to 49 percent of units in a residential condominium building, which can be relevant for investor housing or serviced residence components of a tourism project. This Act is often consulted when real estate components are part of a BOI project.

Recent trends include ongoing updates to promoted sectors, investment thresholds, and criteria to reflect Thailand’s shifting economy and regional development goals. Visitors or residents considering BoI promotions on Ko Pha Ngan should verify current sector lists and incentive rules before submission.

Source: BOI Official Site

Source: Royal Gazette

4. Frequently Asked Questions

What is the Board of Investment and how does it help on Ko Pha Ngan?

The BOI promotes promoted activities nationwide, including on Ko Pha Ngan, by offering incentives such as tax holidays and import duty exemptions. Eligibility depends on the sector, project size, and investment value.

How do I apply for promoted status for a Ko Pha Ngan project?

Prepare a business plan, financial projections, and supporting documents, then submit through the BOI portal. An advisor can help tailor the plan to meet promoted activity criteria.

How long does BOI approval typically take for island projects?

Initial acknowledgment can occur within 2-6 weeks, with board decisionsVaries by project complexity and sector. Expect several months for full approval and setup.

Do I need a lawyer to handle BOI applications on Ko Pha Ngan?

While not mandatory, a lawyer with BOI experience helps avoid errors, ensures compliance, and speeds up the process. Local knowledge is especially valuable on islands.

What incentives can a promoted Ko Pha Ngan project receive?

Incentives include corporate income tax exemptions, import duty exemptions on machinery, and non tax incentives such as permission to own or lease land under certain structures.

How much does a BOI attorney typically charge for a hotel project?

Fees vary by project complexity and experience, but a typical engagement ranges from THB 100,000 to THB 500,000 for a full BOI submission and negotiations.

Can foreigners own land for a BOI project in Ko Pha Ngan?

Direct land ownership by foreigners is prohibited; alternatives include long term leases or Thai partner ownership under compliant structures. BOI can help in structuring options.

Should I set up a Thai company to access BOI incentives?

Most promoted activities require a Thai entity or a Thai partner structure that complies with the Foreign Business Act and BOI guidelines. A lawyer can tailor the structure to your case.

What is the difference between BOI promotion and ordinary licensing?

BOI promotion offers tax and non tax incentives for targeted activities, while ordinary licenses regulate operation without the same incentives. BOI approval is a separate process.

How can I appeal a BOI decision if it is unfavorable?

Appeals typically follow an administrative channel or a formal reconsideration request, often with legal representation, documentation, and expert testimony.

Do small tourism businesses qualify for BOI incentives?

Yes, if the project meets the promoted activity criteria and investment thresholds set by BOI for tourism services and related sectors.

Is there a residency or visa benefit tied to a BOI approved project?

BOI approval can influence visa and work permit considerations, but immigration outcomes depend on separate regulatory approvals and compliance.

5. Additional Resources

• Board of Investment (BOI) - Official Site - Central portal for promoted activities, sector lists, incentives, and submission guidelines. https://www.boi.go.th
• Department of Business Development (DBD) - Thai company registration - Regulates company formation, registration, and corporate compliance for Thai and foreign investors. https://www.dbd.go.th
• Ministry of Industry - Provides sector policies and industry specific guidance related to BOI involvement and promotion. https://www.moic.go.th

6. Next Steps

1. Define your Ko Pha Ngan project and check if it fits a promoted activity listed by BOI. Gather a preliminary business plan and budget. Expect 1-2 weeks for initial assessment.
2. Engage a local BOI-savvy attorney or legal counsel with island experience. Share project goals and timelines to get a feasibility opinion within 1-2 weeks.
3. Collect documents for BOI submission, including company documents, financial projections, and project descriptions translated into Thai or English. Plan for 2-4 weeks of document preparation.
4. Submit the BOI application with your counsel and monitor BOI responses. Prepare to address any queries within 2-6 weeks after submission.
5. Respond to additional BOI requests promptly and adjust plans if required. Expect a decision window of 1-3 months after complete submission, depending on complexity.
6. Once approved, coordinate with DBD for company registration and with tax authorities for incentives and reporting. Allow 2-4 weeks for registration steps after BOI approval.
7. Implement ongoing compliance, file periodic reports, and maintain records as required by BOI. Schedule annual reviews and updates with your legal counsel.