Let our experience be your guide.
INVESTMENT PROMOTIONS AND PRIVILEGES
Although Thailand has actively encouraged foreign investment for a number of years, the laws and regulations relating to foreign investment in various industry sectors in Thailand are complex. Nowhere are the complexities of these matters more apparent than the current confusion surrounding the proposed amendments to Thailand’s Foreign Business Act (the principal legislation governing foreign participation in businesses in Thailand).
However, Board of Investment (“BoI”) and Industrial Estate Authority of Thailand (“IEAT”) promotion privileges can not only allow foreign investors to by-pass a number of foreign participation restrictions (such as land ownership restrictions), they actively encourage foreign investment and participation in businesses in Thailand by offering such incentives as tax-holidays, import exemptions, work visas for foreign national experts, etc. Nevertheless, the rules and regulations governing BoI and IEAT privileges are somewhat complex.
Our Firm regularly assists leading international clients with BoI and IEAT promotion privileges in their land purchases, factory licenses, import permits, building permits, as well as our usual tax structuring advice. We also advise on joint venture agreements with local Thai business partners, complex international and domestic financing structures needed to obtain start-up capital; as well as advising clients on the complex issues surrounding setting up as a consortium and having a permanent establishment (“PE”) presence on the ground in Thailand (such as, advising clients on the benefits of establishing a company in a Double Tax Treaty friendly jurisdiction).
LawAlliance also regularly advises clients who are already a part of the BoI and IEAT investment privilege process on maintaining their compliance with the requirements placed upon them, as well as keeping them up-to-date on how best to utilize any tax advantages they may have so as to minimize the tax exposure of their project.