Company Registration in Thailand can be the best most positive move you can make to being able to quickly start a productive business brand. Company Registration in Thailand has changed enormously, during previous years, they rarely allowed foreign set ups of companies in their stores due to certain political sensitivities of their ties with other countries. But now, with the new upgraded changes in the Thailand business law having a more understanding approach to foreign delegates who are hoping to strengthen business ties and provide a way to help the country’s economic boost by increasing foreign investments.
Benefits of Getting BOI Approvals
- The Approved Company will be given the right to bring in foreign professionals along with their spouse and any individual who are under the guardianship of the employee, into Thailand. The estimated number of professionals you can bring in to provide work and live in Thailand will be relayed and approved only by the Committee as they see fit.
- The professionals who are have been given the green light to stay in the country will only be allowed to work within the same profession that the Committee has decided upon, and will depend on the approval period.
- The benefit of owning the land will be granted to the approved company registration In Thailand as long as they meet the criteria that the Committee has established.
- Another benefit for the subject who underwent company registration under the BOI can be given freedom from import duty of its machinery as long as it is accepted by the Committee.
- Another benefit would be the exemption from income tax of the company’s net profit that is generated in a 5-year span from the very first date they draw such income.
- If the company suffers from net profit loss, in the duration of the income tax exempt period they will be given the chance to recover them by carrying over the loss deducting them from the net profit to be gained after the exemption period for the next 5 years. They are also allowed to deduct it from any year of net profit.
- Another benefit is about the dividends taken from the work product, for they are exempted from the income generated corporate tax. They are not to be included in the calculation of tax as long they within the tax exemption period.
- The approved company is allowed to make use of transferring their financial resources to overseas even in foreign currency.
- With the BOI approval, the company registration in Thailand’s registered capital will only be Baht 1M for your 100% Danes owned and be able to get 2 work permits.
- Full Foreign Ownership. Registering your company as 100% fully owned by you will not affect your BOI approval since they are promoting and attracting foreign investments to Thailand.
With the particular benefits provided above, the company registration in Thailand under the BOI approval has the most logical and most practical benefits that foreign company owners need to be looking for a great business start-up campaign in Thailand.
