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Land Ownership Benefits For BOI Companies in Thailand

Transcript of the above video:

In this video today, we're going to be discussing the BOI and the specific benefits thereunder in this video we're going to specifically be talking about land ownership for foreign majority companies under BOI certification. In other videos on this channel, we talked about foreign business licensing things like tax exemption with respect to the BOI. In this video, we're going to be covering specifically land ownership which is an important thing to know because here in the Kingdom of Thailand, there are specific restrictions placed on foreigners with respect to the ownership of actual real and movable property a.k.a. land, real estate.

So BOI the board of investment is essentially a committee that makes determinations with respect to special benefits granted to foreign owned companies notwithstanding the rather restrictive general provisions of the law with respect to companies that are owned by foreigners here in Thailand. Under the BOI, they can grant things like tax exemption. They can also specifically grant the ability to have a foreign business license obtained. They can also grant certain other types of benefits like work permit and visas can be issued one at the one-stop service center as opposed to through the usual channels. And also, they can get rid of certain of the requirements with respect to visas and work permits like Thai employee quotas etc.

In this video though we're discussing land ownership specifically and yes BOI companies if they are so certified, they can so long as the Board of Investment specifically approves the purchase of land by that company. And generally speaking, it needs to be associated with use within for the company's benefits so like if they want to set up a major factory in Thailand and they want to own the land on which the factory sits, yeah that's definitely directly involved with the business of that company, that manufacturing concern and so long as the BOI consents to it, a foreign majority withheld company can own that underlying real property.

Basically that is the extent of what I wanted to discuss in this video. People don't really understand sometimes how the land ownership restrictions work in Thailand and that there are certain exemptions where notwithstanding a foreign majority shareholding in a particular company, one can or I should say a company can go ahead and secure ownership rights in Thai property, Thai real estate specifically. BOI certification assuming the board of investment approves such a purchase and use of land, such usage and purchase can be facilitated and can be executed here in the Kingdom. As I've noted in other videos, there are just generally some benefits that can be gained by simply going through the system as it is and obtaining the benefits that a company may be entitled to pursuant to the provisions and the authority of the BOI.