There are quite a few changes when it comes to doing business in Thailand because of the introduction of Board of Investors. Foreigners can now have the possibility of owning a business in Thailand. The first thing to do is consult BOI Company in Thailand because they will know what to do and what requirements to fulfill.
The government of Thailand is not moving forward in order to encourage big investments in the country in the field of technology. This can be done by appealing to the target industry which in turn will help improve the economy and celebrate with the success of the investors.
In order to achieve this goal for the country, the Board of Investment of Thailand is opening an incentive package known as the Thailand Investment Year. At the same time, there are also other measures that were initiated to get more investment into the country for specific activities such as economy development through digital and the rail system.
The reason why BOI decided to launch Thailand Investment Year Package is because they want to put the spotlight on large investment schemes that uses advanced tech or even knowledge to push forward the growth of the economy and its eventual transformation.
The Package hopes to welcome investments especially those that are higher than 1,000 million baht. These are the ones that usually assigned to targeted activities and given a privilege tax holiday of between five and eight years. It is also recommended that the investor does not ask for the implementation deadline of the project to be pushed.
Investors can send in their application until the 30th of December this year. For projects that will be given the green light, they are to get 50 per cent of whatever is left until the corporate income tax is withheld. The government is hoping to receive a BOI company in Thailand that will tackle lacking industries such as aircraft parts, hi-tech electrical products, digital services, research and development and tech for medical devices among many others. BOI is also hoping to get investments that will be directed towards the rail system of the country.