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BOI Promotion under Trade and Investment Support Office (TISO)

BOI Promotion under Trade and Investment Support Office (TISO)

Introduction to BOI TISO

The Thai Board of Investment (BOI) offers several promotions to encourage trade and investment in Thailand. Among these is the BOI TISO (Trade and Investment Support Office), which provides unique benefits for both Thai and foreign companies. If your industry specializes in consulting, advisory, and outsourcing services, the BOI promotions provides an opportunity to establish and grow your business within a supportive legal framework. Although these schemes do not include tax incentives, they are especially advantageous for companies that are ineligible for other BOI promotions.

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What is BOI TISO?

BOI TISO is a specialized platform providing targeted support for companies looking to establish or expand their operations in Thailand in addition to BOI promotions. The BOI certificate under TISO is issued for specific business processes, not the entire company. For example, if your company offers business advice and administrative support, these activities fall within the BOI TISO scope and can receive certification, allowing you to hire more foreign employees. 

However, activities like managing business seminars, which are outside the BOI TISO scope, would not qualify for certification. If you wish to continue these non-qualifying activities, you must maintain separate accounts to differentiate between BOI-supported activities and others.

What is the eligibility criteria for BOI promotion under TISO?

Businesses seeking BOI promotions must meet specific criteria:

  •  The company must have annual selling and administrative expenses of at least THB 10 million (approx. EUR 300,000) and a business plan approved by the BOI. 
  • Investment in the project, including the enhancement or construction of office space and the acquisition of equipment or machinery (preferably new, though specific second-hand items may be acceptable), must total at least 2.5 million baht.

What are the eligible business activities?

Several business activities qualify for BOI promotion for TISO:

1. Monitoring and Servicing Associated Enterprises: Including office and factory rentals and lending to associated enterprises.

2. Advisory Services: Excluding businesses engaged in buying and selling securities and foreign currency exchange.

3. Information Services on Goods Sourcing: Providing vital data for sourcing goods.

4. Engineering and Technical Services: Excluding architecture and civil engineering services.

5. Machinery and Equipment Related Activities: Importing, training, installation, maintenance, repair, and calibration.

6. Wholesaling Products Manufactured in Thailand: Promoting locally manufactured goods.

7. International Business Process Outsourcing: Services provided through telecommunication networks such as finance, accounting, HR, sales, marketing, customer services, and data processing.

BOI promotion for TISO: Non-tax benefits

BOI promotions under TISO do not offer tax benefits but provide significant non-tax advantages:

  1. 100% Foreign Ownership: Allowing complete foreign ownership of the promoted company.
  2. Land Ownership Rights: Permitting land ownership for office establishment, executive residences, and employee accommodations within specified limits.
  3. Simplified Visa and Work Permit Process: Expedited processes via the One-Stop Service Centre, allowing easier access for foreign employees, technicians, and experts.

Detailed Application Process

To maintain the BOI promotion under TISO, companies must follow a detailed application process for the operating license within three years of receiving the BOI certificate. The steps include:

1. Compile Required Documentation:

  • Prepare the latest audited financial statements.
  • Ensure documentation reflects annual selling and administrative expenses exceeding THB 10 million.

2. Submit Application to the BOI:

  • Complete the BOI operating license application form.
  • Attach the compiled documentation and business plan.
  • Submit the application to the BOI office.

3. Review by the BOI:

  • BOI reviews the application and supporting documents.
  • The review process includes verifying financial statements and compliance with BOI TISO criteria.

4. Approval and Issuance:

  • If the application meets all criteria, BOI issues the operating license.
  • Companies may need to provide additional information or clarification during the review process.

5. Maintain Compliance:

  •   Ensure ongoing compliance with BOI regulations.
  •   Submit periodic reports and updates to the BOI as required.

The BOI TISO application process can be challenging, but Benoit and Partners are here to assist. Our personalized consultation services are designed to streamline the process, enabling you to concentrate on expanding your business in Thailand. Contact Benoit and Partners today to discover how we can support your BOI TISO application and investment efforts.