BOI Promotion Procedure
Procedures for Utilization of Promotional Privileges of BOI Promoted Projects
In order to make the work of the Office of the Board of investment (BOI) faster and more efficient, so as to better facilitate promoted investors, the BOI has laid out procedures for applying and implementing promotion privileges, according to the BOI announcement No.1/2553 regarding the “Time Frame for Investment Promotion Procedures”.
Action Required after a Project is Approved for Promotion
- The OBOI will inform the applicant in writing within 7 working days of the approval date, detailing the conditions, privileges and benefits granted. An application form for the promotion certificate will be attached, together with the notification of approval
- Upon receipt of the OBOI letter approving the project, the applicant must reply by completing the form of promotion acceptance and sending it back to the OBOI within one month. If any changes or special conditions and privileges are sought, they should be requested at that time
- If the applicant is unable to reply within the stated time limit, a letter of clarification should be sent to the OBOI, which will consider extending the deadline by not more than one month at a time, up to a maximum of three times
- In order to receive the investment promotion certificate, the applicant must set up the company within six months of accepting the approval, and submit all of the following documents to the OBOI:
- Application form for promotion certificate
- The memorandum of association
- The certificate of business registration
- A certificate stating the registered capital, a list of directors indicating those empowered to bind the company, and the address of the head office
- A list of the shareholders and their nationalities
- A document showing the transfer of funds from overseas, or a certificate of investment from overseas issued by the Bank of Thailand for foreign investors
- A joint venture contract, licensing agreement, technical assistance contract and/or technology transfer contract (if any)
- Form of utility and manpower requirements.
- If the applicant is unable to submit the documents within the required time frame, an explanatory letter must be sent to the OBOI, which will consider extending the deadline by four months at a time, up to a maximum of three times
- The OBOI will issue the investment promotion certificate after receipt of all specified documents, and the promoted company must follow the conditions laid out in the Certificate.
- If there are any discrepancies or errors, or if an amendment is sought, the OBOI must be notified in writing, with all relevant documents attached.