When you are a foreigner living in Thailand and own a business, you may want to consider seeing if it qualifies for BOI status. If your business qualifies for BOI status, you can enjoy many benefits, and it can help make doing business in the Land of Smiles much easier.
There are criteria that your business must fill to qualify for BOI status, and there are only selected types of companies that can apply for it. Below are some of the different types of businesses that may qualify for BOI status to see if your business may benefit from it.
A Recruitment Company
You can qualify for BOI status if you own a recruitment business, and there are also many of these in Thailand. There are many different types of recruitment businesses, such as:
- Technology Recruitment
- Executive Recruitment
- Finance Recruitment
- Legal Recruitment
- Teacher Recruitment
As long as your business meets the requirements, you may be eligible to join the BOI scheme As long as your business meets the requirements, you may be eligible to join the BOI scheme set up by the Thai government. Some of the criteria you must meet include:
- Having the minimum capital investment.
- Being within one of the eight eligible business categories.
- Being a registered company in Thailand.
It is worth speaking to a specialist law firm about gaining BOI status for your business and finding out what you need to do to ensure your business qualifies.
A Digital Marketing Company
There are many digital marketing agencies throughout Thailand, and many of them are owned by foreigners. If you have a digital agency you can apply for BOI status if you meet the criteria set, and you can enjoy easy access to work permits and visas, and the tax incentives that are available. It is best to use law firms who could help you with BOI company registration in Thailand. They will help make the process much easier for you and ensure all the paperwork is done correctly. You may also find that having BOI status may help you attract some larger business to your agency, so it can also be lucrative for your business.
A Manufacturing Company
You may also qualify for BOI status if you have a manufacturing business in Thailand. No matter what you are manufacturing, you can change your company to have BOI status and enjoy the benefits that this will give to your company. It can help you attract the best qualified employees for your business and make getting them from abroad a much easier prospect. Elevating your business to BOI status can help you propel your company forward and make it a resounding success.
These are a few types of business that may qualify for BOI status, but there are more besides these few. Find an experienced and qualified lawyer to help you with the process, and they can help you with your application and ensure it is a success. With all the benefits that BOI can give your business, it is worth doing and can help you take your company to the next level.