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ResourcesCorporate and Tax AdvisoryThailand Corporate LawWhat Is the Cost of Setting Up a BOI Company in Thailand?

What Is the Cost of Setting Up a BOI Company in Thailand?

Transcript of the above video:

In this video today as the title suggests, we are going to be discussing costs associated with boa certification of a Thai incorporated entity here in the Kingdom. This thing to take away from this video first of all is, we have a ton of information on this channel generally with respect to Thai corporations specifically even Amity structures as well as BOI structures and certification associated with BOI as well as information pertaining to things like the new Smart Visa benefit which can be extremely advantageous for foreign nationals wishing to come to the Kingdom to do business. We urge those watching this video to go check out through the search function on our channel to check out those videos as further insight can be derived therefrom.

The thing to take away from this video though is, and the thing that we will be discussing, is cost of a BOI. Now I am purposely not trying to be opaque but the fact of the matter is the costs associated with setting up a BOI structure are going to vary depending on the type of structure being set up, the corporate objectives associated with the company, the projected investment associated with the company, as well as the projected corporate activities. And to take a moment with respect to corporate activities, it should be noted especially since the rollout of the Thailand 4.0 initiative here in the Kingdom as well as the Smart Visa program, we are seeing activities that the BOI as well as other organs here in the Kingdom are trying to promote with respect to bringing in foreign direct investment to encourage growth of these certain types of industries as well as certain technological exchanges that are trying to be encouraged to come into the Kingdom of Thailand. It is interesting to note with respect to the technological exchanges that in certain cases it may be possible to get a BOI certification with less initial investment,  if one's technological Exchange, or the technology one proposes to bring to the Kingdom is of a substantial nature or  of a substance that the Thai, for lack of a better term, "powers-that-be" for lack of a better term looking to encourage and for that reason you can see a situation where an initial investment would need to be lower for certain types of commercial activities for certain types of high tech industries that they are trying to encourage being promulgated in Thailand, being sort of that ecosystem being sort of  being cultivated here in Thailand. You can see a situation where the initial investment would need to be less when compared to something that is of a more routine or maybe for lack of a better term, I don't want to say drab, but just of a more, of a less technological nature, something that is not as cutting-edge for example. Various factory projects that come to Thailand that  do what can be described as rather routine things can obtain BOI certification but they may not fall under these new regulations pertaining to certain targeted industries that not only the BOI but organs of the government here are trying to encourage and for that matter it may still be required that a more substantial investment be made here in the Kingdom with respect to those kind of Industries as opposed to these targeted industries that are trying to encourage growth in those fields here in the Kingdom, you may see a situation where again investment may not, the thresholds may not be as high for example. The thing to take away from this video, again I am not trying to be opaque with respect to how much this BOI costs, it is going to depend very much on the specifics of the given case. So the thing to take away from this video is those who are interested in inquiring about these matters, it is very good idea to basically create a synopsis or summary of what one is looking to do here in the Kingdom, the types of activities being undertaken and it may be a good idea to break out exactly what types of business activity will actually be undertaken and what I mean to say is that there  is certain aspects that may sort of be viewed internally by a corporation's as sort of inherent to the internal process of doing whatever business it is that they do, but that specific function maybe something that is of again may fall into one of these targeted areas, or one of these targeted fields that again the “powers-that-be” are looking to encourage over here. So for that reason specifically with BOI may be a good idea to break out a summary of what type of business activities an individual or group is looking to undertake here in the Kingdom and provide that information to a legal professional who can then go ahead and break down the costs and fees associated with getting such an entity established and running here in the Kingdom of Thailand.