Last updated: 2026-05-04
A practical explanation of the Thailand Board of Investment, the incentives it offers, and the kinds of business activities that qualify.
The Thailand Board of Investment (BOI) is a government agency under the Office of the Prime Minister. Its job is to promote investment in priority business activities. Companies that qualify for promotion get tax and non-tax incentives in exchange for operating inside one of the BOI's defined activity categories.
Promotion isn't automatic. A company applies, BOI evaluates the plan against the current promoted-activities list, and a board approves or rejects it. BOI updates the list itself, so what qualifies in 2026 might not have qualified five years ago, and might not five years from now.
On the tax side: corporate income tax exemption for a number of years (the duration depends on the activity), import duty exemption on machinery and raw materials used in the promoted activity, and double deduction of certain costs.
On the non-tax side: 100% foreign ownership for activities that would otherwise be restricted by the Foreign Business Act, the right to own land for the promoted operation, faster visa and work-permit processing through the One Stop Service Centre, and an exemption from the standard 4-Thai-employees-per-foreign-worker ratio.
BOI is worth a serious look when you plan significant capital investment, when you need to hire foreign specialists who would otherwise blow past the work-permit ratios, or when your activity is on the current BOI list. For services and small operations, it's usually overkill. A standard Thai limited company plus a normal work-permit setup is faster to set up and cheaper to maintain.
The most common mistake is treating BOI as the default path. The application is paperwork-heavy and the ongoing reporting isn't trivial. Weigh the real value of the incentives against the cost of applying and staying compliant before you start.
This page is a plain-English reference. It is not legal advice. For specifics that affect your business, consult a qualified Thai law firm.