Step-by-Step Guidance to Secure BOI Approval

The Thai Board of Investment (BOI) offers a range of incentives to attract both foreign and local investors. These incentives can significantly enhance your business operations and profitability in Thailand. However, navigating the BOI application process requires a clear understanding of the procedures and requirements. Victory InterLaw provides expert guidance to help you smoothly and efficiently secure BOI approval, ensuring that you maximize the benefits available to your business.

Why Understanding BOI Procedures is Crucial

BOI approval provides a host of benefits, including tax exemptions, duty reductions, and enhanced business privileges. However, the application process can be complex and requires meticulous preparation and compliance with BOI criteria. By understanding the BOI procedures, you can effectively align your business plans with regulatory requirements, streamline the approval process, and optimize your investment outcomes in Thailand.

Comprehensive Breakdown of BOI Procedures

Victory InterLaw offers detailed support through each phase of the BOI application process, from initial planning to post-approval compliance. Here’s an overview of the key steps involved:

1. Pre-Application Planning and Feasibility Assessment

Before initiating the BOI application, it’s crucial to conduct thorough planning and feasibility analysis:

• Initial Consultation and Business Assessment: Engage in a detailed consultation with our experts to discuss your business objectives, project scope, and the specific BOI incentives you wish to apply for. We assess your project’s alignment with BOI’s promoted activities and strategic sectors.
• Feasibility Study and Business Plan Preparation: Conduct a feasibility study to evaluate the potential success and compliance of your project. We assist in developing a comprehensive business plan that outlines your investment goals, operational strategies, financial projections, and compliance with BOI criteria.
• Document Preparation: Prepare all necessary documents, including company registration papers, shareholder agreements, financial statements, and project plans. Victory InterLaw ensures that all documentation is complete, accurate, and ready for submission.

2. BOI Application Submission

Once your business plan and documentation are ready, the application process begins:

• Online Application Submission: Submit your application through the BOI’s e-Investment portal. Victory InterLaw guides you through the digital submission process, ensuring that all forms and documents are correctly uploaded and comply with BOI’s requirements.
• Initial Review by BOI: The BOI will conduct a preliminary review of your application to check for completeness and adherence to basic criteria. This stage may involve clarifications or additional information requests, which we handle on your behalf.

3. BOI Evaluation and Approval

The evaluation phase involves a detailed review of your project by the BOI:

• Detailed Project Review and Assessment: The BOI evaluates your project’s potential economic impact, alignment with national development goals, and compliance with BOI’s promoted activities. Victory InterLaw provides strategic support in presenting your project’s merits and addressing any queries from the BOI.
• BOI Board Meeting and Decision: Your application is presented to the BOI board for approval. We prepare you for this critical stage, providing guidance on what to expect and how to best present your case. The board’s decision is communicated after the meeting.

4. Post-Approval Procedures

After obtaining BOI approval, there are several follow-up steps to complete:

• Investment Promotion Certificate (IPC) Issuance: Upon approval, you receive an Investment Promotion Certificate, which formalizes your entitlement to BOI benefits. Victory InterLaw assists in the issuance process and ensures that you receive your certificate without delays.
• Compliance with BOI Conditions: You must adhere to specific conditions and milestones as outlined in your IPC. This includes maintaining detailed records, submitting regular progress reports, and fulfilling investment and operational commitments. Our team provides ongoing support to help you stay compliant with BOI regulations.
• Tax and Duty Incentives Implementation: Start availing the tax and duty incentives granted by the BOI. We assist in the implementation process, including navigating customs procedures for duty exemptions and coordinating with tax authorities for corporate tax benefits.

5. Ongoing Compliance and Support

Maintaining compliance with BOI conditions is crucial for continuing to receive incentives:

• Regular Reporting and Audits: Submit periodic reports to the BOI detailing your project’s progress, financial performance, and adherence to conditions. Victory InterLaw helps prepare these reports and conducts internal audits to ensure ongoing compliance.
• Expansion and Additional Applications: As your business grows, you may seek additional BOI incentives or expand your project scope. We provide strategic advice and support for submitting additional applications or amendments to your existing BOI approval.

Benefits of Navigating BOI Procedures with Victory InterLaw

• Expert Guidance and Support: Our experienced team provides comprehensive support throughout the BOI process, ensuring that your application is robust, compliant, and positioned for success.
• Streamlined Application Process: We simplify the application and approval process, saving you time and resources, and allowing you to focus on your core business activities.
• Maximized Incentives and Benefits: Our strategic approach ensures that you fully leverage the incentives and benefits available through the BOI, optimizing your investment in Thailand.
• Ongoing Compliance and Peace of Mind: With our ongoing support and compliance services, you can confidently maintain your BOI status and continue to enjoy the benefits and privileges offered by the BOI.

Why Victory InterLaw is Your Trusted Partner for BOI Services

• Extensive Experience: With over 20 years of experience in the legal and investment sectors, Victory InterLaw has a deep understanding of the BOI procedures and a proven track record of successful applications.
• Tailored and Strategic Approach: We offer a customized approach to every BOI application, ensuring that your business plan aligns with BOI criteria and strategic goals.
• Commitment to Your Success: Our client-centric philosophy means that we prioritize your business objectives and provide dedicated support to help you achieve your investment goals in Thailand.

Start Your Investment Journey with Confidence

Unlock the full range of BOI incentives and support with the expert guidance of Victory InterLaw. Our comprehensive BOI services simplify the application process and empower your business to thrive in Thailand’s dynamic market.

Contact Us Now to Begin Your BOI Application
Connect with Victory InterLaw today to schedule a consultation. Let our experienced team guide you through the BOI procedures and help you secure the incentives and benefits that will drive your business success in Thailand.