To make the Board of Investment more efficient and serve investors faster, the Board of Investment has established a method for applying for investment privileges and benefits according to Announcement No. 01/2010 of Thailand. The application process is as follows:
From the above table, the entire project application process from submitting complete and certified project application documents until receiving a notification from the BOI, even projects with an investment of less than 200 million baht must take at least 40 days in consideration. If there is auxiliary material in the middle, the technology or process of a project is complex, the approval time may be longer, therefore it is extremely important to prepare your own investment plan sensibly.
In addition, project applicants do not need to be in the name of the registered company but can apply for a BOI investment certificate on behalf of a person such as a shareholder or authorized signatory of a newly registered Thai subsidiary.
Investors can also form a company before obtaining a BOI investment promotion certificate, but the company cannot be an ongoing company.
Ongoing company can apply for a BOI investment promotion certificate only if they have added a new product line.
Required documents : the documents investors are required to submit will be determined based on the actual situation of the project. In general, two complete BOI request forms must be submitted. The application process is as follows:
- Application for investment promotion (F PA PP01)
- Application for investment promotion for service activity (F PA PP03)
- Application for investment promotion for digital business (F PA PP04)
- Application for promotion for small and medium enterprise (F PA PP29)
For project with an investment value over 750 million baht (excluding cost of land and working capital), the project’s feasibility study must be submitted with details as specified by the Announcements of the Investment Committee on November 1, 1991, Statement No. 50/2534. Documents and supporting documents required for each industry will be notified separately from the Board of Investment according to different circumstances. Applicants may submit their applications to BOI Investment Promotion Division 1-5 or zone 1-7 of the Economic Investment Center or to an Economic and Investment office located abroad.
Notification of approval results: The investment committee will notify the approval result within 7 days after approval meeting and inform whether the project has been approved or not. Respond to investment approval.
- The investor must submit a form (F GA CT 07) to the Investment Committee for confirmation within 1 month after receiving (F GA CT 07) form for confirmation.
- If applicants do not respond in writing within one month pursuant to the provision of the preceding paragraph, they shall submit a form (F GA CT 03) to request an extension of respond time not exceeding three times. Approval of the first 2 requests to extend the response time within 3 business days and approval of the third request to extend the response time within 7 business days. Documents for requesting a BOI foreign investment certificate.
- The applicant must submit an application for investment promotion certificate (F GA CT 08) and related documents within 6 months after the approval decision has been received.
(1) Complete the form Investment Promotion Certificate Application Form (F GA CT 08)
(2) Company structure
(3) Minutes of board meeting to increase registered capital (if the registered capital is increased)
(4) Company registration certificate
(5) Issued by the Company Registration Office of the Company’s share registration certificate, Ministry of Commerce
(6) List of shareholders and certificate of nationality issued by the Company’s share registration certificate, Ministry of Commerce
(7) Foreign currency remittance certificate (if foreign investors)
(8) Joint Venture Agreement, Right and Services Agreement, Procurement of various assistance contracts (if any)
(9) Completed Utilities and Labour Requirements form (F GA CT 13)
- A Thai investment certificate will be issued within 10 business days after receiving application and related documents to request for investment promotion.
- If applicant is unable to submit the application form and relevant documents within the time specified above, they shall submit a form (F GA CT 04) to request an extension of submission time not exceeding three times. Approval of the first 2 requests to extend the submission time within 3 business days and approval of the third request to extend the submission time within 7 business days.
- Project value 1-200 million baht = 40 business days
- Project value 200-750 million baht = 60 business days
- Project value more than 750 million baht = 90 business days
For more details, please check at BOI website: www.boi.go.th