Please describe the incentives under the TISO
Non-tax incentives, for example, foreign majority shareholders, land ownership, and visa and work permit for aliens working in the TISO project.
If a company is permitted to buy a land under the promoted TISO project, can the company rent such land to its associated enterprises?
The TISO cannot rent out a land. However, the company can rent out part of the office space which is left unused by main TISO activities only to associated enterprises. The TISO cannot conduct building rental as core business according to item 1 of the scope of activities: controlling and/or providing services for associated enterprises, as well as services on provision or rent out offices or factory buildings to associated enterprises.
Is it possible for a company to buy the land that it is currently renting after it is granted a TISO incentive?
The BOI shall approve the land ownership as necessary for use in the promoted activities in accordance with its scope of services.
A company wishes to conduct trading activities but it does not conduct manufacturing activities. What should it do?
Trading business is a service activity according to List Three of the Foreign Business Act B.E.2542 (1999) of the Department of Business Development (DBD). The Act stated that in case the company has a majority of foreign shareholders, it must apply for Foreign Business License (FBL) from the DBD. If it is the activity eligible for promotion by the BOI, an application can be submitted in advance, and as soon as the promotion certificate is issued, the company can then apply for Foreign Business Certificate (FBC) from the DBD without a need to apply for FBL.
