About คณะกรรมการส่งเสริมการลงทุน (บีโอไอ) Law in Chiang Mai, Thailand
The Board of Investment (BOI) is Thailand’s national agency responsible for promoting investment across the country, including the Chiang Mai region. It administers investment promotion under the Investment Promotion Act B.E. 2520 and related regulations, offering incentives to promoted activities in various sectors. In Chiang Mai, local investors can access guidance and support through BOI channels and the regional presence that helps applicants prepare and submit promotions.
Promoted projects may qualify for both tax and non tax incentives, such as tax exemptions, import duty relief, and certain non tax benefits like corporate support services and streamlined approvals. While BOI decisions are nationwide, the agency provides region specific information and assistance to Northern Thailand investors, including those in Chiang Mai’s manufacturing, agro processing, and services sectors.
Investors considering Chiang Mai projects should verify current promoted activities and incentive packages on the BOI website before planning their submission timelines. The BOI emphasises the importance of meeting promoted activity criteria, project size thresholds, and local employment or technology transfer goals as part of eligibility determinations.
Key takeaway: BOI incentives are nationwide but with regional guidance to support Chiang Mai investors through the approval and post approval process. For official details, see the BOI official site. BOI Official Website
“The BOI provides a range of incentives for promoted activities across sectors to attract investment nationwide, including in northern provinces like Chiang Mai.”
Why You May Need a Lawyer
Engaging a lawyer with BOI experience can clarify eligibility and optimize incentives for a Chiang Mai project. Below are real world scenarios where specialized legal guidance is essential.
You plan a promoted agro processing plant in Chiang Mai and must decide which activity fits best to maximize incentives. An attorney can map your project to the correct promoted category and structure the investment plan accordingly.
You are a foreign investor seeking BOI incentives and need to navigate ownership rules and activity eligibility in a Chiang Mai operation. A lawyer can ensure compliance with the Foreign Business Act interplay and BOI requirements.
You need to prepare and file a BOI application with accurate documents, including project feasibility, investment plan, and employment projections specific to Chiang Mai. A legal professional can assemble and verify the package for timely processing.
You must coordinate post approval compliance, including annual reports, milestone proofs, and job creation data for a promoted project in Chiang Mai. A lawyer can implement a robust compliance framework.
Your project scope changes after initial approval, such as expanding production capacity or adding new activities in Chiang Mai. Legal counsel can seek BOI amendments and update incentive terms accordingly.
You anticipate local environmental or land use permits alongside BOI incentives. A lawyer can coordinate with provincial authorities in Chiang Mai to align local approvals with BOI conditions.
Practical note for Chiang Mai residents: Local legal counsel familiar with northern regional offices, provincial authorities, and BOI processes can reduce delays and help with multilingual communication during submissions.
Local Laws Overview
Thailand's BOI framework operates within a set of core laws that shape how promoted investments are handled in Chiang Mai and nationwide. Here are the primary statutory anchors you should know.
Investment Promotion Act B.E. 2520 (พระราชบัญญัติส่งเสริมการลงทุน พ.ศ.2520) - The foundational law that defines promoted activities and incentive schemes under which BOI grants privileges. It provides the legal basis for tax exemptions, import duty relief, and non tax incentives for qualified projects.
Foreign Business Act B.E. 2542 (พระราชบัญญัติการประกอบธุรกิจของคนต่างด้าว พ.ศ.2542) - Governs foreign participation in various business activities. BOI promoted projects may allow foreign ownership up to specified levels, but the Act remains a controlling framework for non promoted activities and general market access in Thailand.
National Environmental Quality Act B.E. 2535 (พระราชบัญญัติคุ้มครองสิ่งแวดล้อม พ.ศ.2535) - Sets the standards for environmental impact and project approvals. Large or potentially polluting promoted activities in Chiang Mai may require EIA and related environmental permits alongside BOI approvals.
Recent trends show BOI expanding incentives for digital, green, and regional development in northern Thailand, including Chiang Mai. Investors should check the latest BOI announcements for updated incentive packages and eligible activities. See the BOI site for the current lists and details. BOI Official Website
Frequently Asked Questions
What is the Board of Investment and what does it do?
The BOI is Thailand’s national agency for investment promotion. It grants incentives to promoted activities and oversees regulatory aspects of project approvals.
How do I check if my project qualifies for BOI incentives in Chiang Mai?
Review the promoted activities list on the BOI website and consult a lawyer to map your project to an eligible category. Regional offices can assist with local considerations in Chiang Mai.
What documents are required for a BOI promotion application?
Common items include company registration, detailed project plan, investment budget, employment projections, and a timetable. Specifics depend on activity and location.
How long does the BOI approval process typically take in Chiang Mai?
Typical timelines range from 1 to 6 months for initial screening, with 3 to 9 months for full approval depending on complexity and completeness of documents.
Can a foreign investor get 100 percent ownership under BOI in Chiang Mai?
In promoted activities, BOI can allow higher international ownership than standard rules, but eligibility depends on the activity and documentation. A lawyer can navigate these rules.
Do I need to register a company in Thailand before applying to BOI?
Yes, most promoted activities require a Thai registered entity. A local attorney can assist with company formation and shareholding arrangements.
What fees might a BOI lawyer charge for the application process?
Fees vary by complexity and region, but expect hourly rates or project-based fees. Ask for a written engagement letter and deliverables outline.
How much financial support can incentives cover in a promoted project?
Incentives include tax exemptions and import duty relief, applicable to eligible expenditures. The exact amount depends on activity, investment size, and duration.
What is the typical timeline for compliance reporting after approval?
Promoted projects usually require annual or semi annual reporting on investment progress and employment; timelines are defined in the BOI approval letter.
What is the difference between tax incentives and non tax incentives?
Tax incentives reduce corporate income tax or exemptions, while non tax incentives cover services, permissions, and streamlined processes not tied to tax relief.
Do I need an EIA or local permits in Chiang Mai for promoted activities?
Yes, many projects require environmental impact assessments and local permits in addition to BOI approvals. Coordinate with local authorities promptly.
Where can I find official guidance in Chiang Mai?
Contact the BOI Chiang Mai office and the Department of Industrial Promotion for local procedures and support in the Chiang Mai region.
Additional Resources
These official resources provide authoritative guidance on BOI incentives, local regulation, and tax considerations for Chiang Mai projects.
Board of Investment (BOI) Official Website - Central source for promoted activities, incentive details, and application procedures. BOI Official Website
Department of Industrial Promotion (DIP) - Government body that supports industrial policy, manufacturing standards, and local investment in Thailand. DIP Official Website
Revenue Department - Guides on tax treatment for promoted projects and compliance requirements. Revenue Department
Next Steps
Define your Chiang Mai project details in a structured summary, including sector, scale, timeline, and local employment goals. Do this within 1 week.
Check the BOI promoted activities list on the official site to assess eligibility and identify potential incentive packages. Allocate 1-2 weeks for review.
Engage a Chiang Mai based lawyer with BOI experience to map eligibility, prepare a document checklist, and plan the submission strategy. Schedule initial consultation within 2 weeks.
Prepare and finalize the BOI application package with the lawyer, including feasibility studies, investment budgets, and employment projections. Target a 4-8 week window for document readiness.
Submit the BOI application and respond promptly to any BOI inquiries or requests for amendments. Allow 1-3 months for initial processing, longer for complex cases.
Upon approval, implement the project with ongoing compliance planning for annual reporting and milestone verification in Chiang Mai. Expect a post approval timeline of 1-2 months to establish reporting routines.
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