Expert BOI Advisory in Thailand
The Board of Investment (BOI) in Thailand provides many services and advantages to businesses, both foreign and local. But to properly negotiate a company’s way through all the rules and regulations, and to even know all of what the BOI offers, a company should engage a company that provides the services of a BOI advisory in Thailand.
The BOI is a government organization that was set up to facilitate investment in businesses operating in Thailand. They have a wide degree of latitude in awarding tax incentives, exemption of import duty, allowances for a work permit for skilled foreign workers, and permissions to transfer monies in and out of Thailand in foreign currency.
They offer promotional activities and privileges over ten industry sectors in Thailand including agriculture and biotechnology, medical hub services, medical tourism, robotics and automation, aviation and logistics, biofuels and biochemical, future automotive, food processing, smart electronics and digital.
A company setting up a business in any of these eight sectors can realize a wealth of benefits that will help them establish themselves by exploring the offerings of the BOI. But to fully understand what all these benefits entail is a complex undertaking that is best entrusted to the services of a BOI advisory in Thailand.
Getting the Most Out of the BOI
A BOI advisory in Thailand can help a new company make sense of the benefits that will do their company the most good in both the short term and the long term.
These advisory services can help you negotiate the hiring of skilled foreign workers that can train and develop your staff. The BOI can issue work permits to foreign employees that plan to work for companies that benefit Thailand.
A BOI advisory in Thailand can also walk you through the steps that will make your company eligible for tax incentives of from three to eight years, depending on your company’s industry.
Worthwhile Endeavor for a Startup
The BOI is particularly focused on the development of technology-based companies in the eight sectors of business. The Thai government has targeted technology-based companies as being crucial to the country’s attaining the Thailand 4.0 goal.
This means that technology startups can reap serious benefits that make hiring a BOI advisory service in Thailand a worthwhile endeavor.
Gaining all the benefits of tax exemption, particularly in the early stages of a company, can be vital in assuring your company’s success when money is apt to be tight. Having an advisory working for your company as a liaison is the best way to ensure that your company is getting all the benefits it’s entitled to.
The advisory service will take care of filing all the forms with the proper offices and officials and following up on their progress. The service will also provide you with an explicit understanding of the rules and regulations under which these benefits will be granted.
By having a BOI advisory service on your company’s side, you’ll enjoy a head-start in your entrance into business in Thailand.
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