BOI Application Process in Thailand: From Filing to Promotion Certificate, Review Times, Required Information and Deadlines You Cannot Miss

Before filing: three questions you must be able to answer

A BOI application does not start with the form. It starts with working out which activity category in the BOI's promoted list your business fits, because the category determines almost everything that follows. An application that picks the wrong category may not be rejected outright, but it will end up with incentives and conditions that do not match the real business.

1. Is the activity on the list, and in which group? The current list is Board of Investment Announcement No. 9/2565 and its amendments. Each activity category has its own incentive group and its own specific conditions. The details are in our guide to businesses eligible for BOI.
2. Does the project meet the general conditions? Announcement No. 8/2565 sets a minimum investment of not less than THB 1 million, excluding land and working capital, unless the activity category provides otherwise. A new project must have a debt-to-equity ratio of no more than 3 to 1, and a project with an investment above THB 2,000 million must attach a feasibility study report.
3. Is the foreign shareholding level allowed? For activities in List 1 annexed to the Foreign Business Act, Thai nationals must hold not less than 51 percent of the shares. For other activities, foreigners may hold 100 percent unless another law or the Board provides otherwise. If you are not sure which route to take, read our guide comparing routes to 100% ownership.

You can consult BOI officers on these points before filing, at the Bangkok office, at regional offices, and at the one-stop investment service center.

Who files the application

The party that ultimately receives the promotion certificate must be a juristic person registered in Thailand, such as a limited company. But you do not have to set up the company before filing. An individual can file in his or her own name first and then register the company within the deadline the BOI office sets.

This is convenient for investors who have not yet come to Thailand to form a company. The caution is that the shareholding structure of the company formed later should match what was declared in the application. If the proportions or the co-investors change along the way, an amendment must be notified, and if there are several founders they should settle the share arrangement first. This is explained in our guide to multiple foreign founders in a BOI company.

The steps according to the BOI manual

1. Research and consult the officers. Choose the activity category, check the conditions, and prepare the project information.
2. File the application online through the e-Investment Promotion system at boi-investment.boi.go.th. The system supports the Chrome browser. Some types of application, such as certain productivity improvement measures and transfers of a business, are still filed outside this system.
3. Explain the project. Make an appointment with an officer to explain the project within 10 working days of the filing date. The explanation can be given in person or by video conference.
4. Analysis and review. Officers analyze the project and may request additional information, then submit it to the competent decision-maker according to the size of the project.
5. Notification of the decision. The office notifies the resolution in writing within 7 days of the date the minutes of the meeting are certified.
6. Accept the resolution within 1 month of the date you receive the letter notifying the resolution, through the promotion certificate system.
7. Apply for the promotion certificate within 6 months of the date you accepted the resolution. Once the documents are complete, the office issues the certificate within 10 working days.

Review period by investment size

This period is counted from the date the office receives complete information, not from the date you press submit in the system. In practice, the biggest source of delay is therefore on the applicant's side: the additional information that has to be sent after the project explanation.

Information to prepare before you submit

The applications that pass quickly are the ones that have already answered the officers' questions. The information to have ready before filing includes:

• The activity category and the product or service that matches the list, with annual production capacity or scope of service.
• The production process or service steps, showing what is actually done in Thailand and that the value added meets the criteria. The 2568 (2025) announcement adds a condition that the production process must be modern and sufficiently substantial.
• An itemized investment budget covering land, buildings, machinery and working capital, consistent with the minimum investment and the debt-to-equity ratio.
• A machinery list stating whether each item is new or used, because used machinery is subject to conditions on age and a performance certificate.
• A staffing plan covering the number of Thai employees and the positions that need foreign skilled workers or experts.
• The project location, which affects the additional location-based incentives, factory licensing and environmental matters.
• The shareholding structure and sources of funds, including the foreign percentage.

What slows an application down or produces the wrong result

Writing the scope of the activity too broad or too narrow. The promotion certificate is tied to the stated products or services and production capacity. Income outside the scope receives no tax exemption. Writing broadly "just in case" does not help, because officers will keep asking for detail until it is clear. Writing too narrowly means you have to request an amendment later.

Investment figures that do not reconcile. The investment budget, sources of funds and debt-to-equity ratio must agree. An application whose figures contradict each other is usually asked for more information, and the review period is counted afresh from the date the information is complete.

Thinking about the date income starts too late. Section 31 of the Investment Promotion Act counts the corporate income tax exemption period from the date income is first earned from the promoted activity. Planning when income will start is therefore part of the BOI application, not something to think about after you have the certificate.

Forgetting the post-approval deadlines. Accepting the resolution within 1 month and applying for the certificate within 6 months are the deadlines companies miss most often, especially when the person handling the application is not the person handling the post-approval work.

Not planning for foreign personnel in the application. Bringing in foreign skilled workers and experts is tied to the positions approved in the project, and the office's 2568 (2025) announcement adds criteria for promotion certificates issued from 2569 (2026). Plan the positions at the time of filing.

After you receive the promotion certificate

The certificate is not the end of the work but the start of a new set of conditions. Under the 2025 BOI manual, the company must finish importing machinery within 30 months and apply to begin full operation within 36 months of the date the certificate is issued. Extensions can be requested under the rules, but some activities have shorter deadlines that cannot be extended. In the meantime, progress must be reported through the e-Monitoring system.

A foreign company that operates an activity under List 2 or List 3 annexed to the Foreign Business Act must also notify the Department of Business Development to obtain a certificate under Section 12. The post-certificate conditions are covered in our guide to conditions after receiving the promotion certificate.

Checklist before filing

1. Confirm the activity category, the incentive group and the specific conditions of that category.
2. Check the minimum investment, the debt-to-equity ratio and the required value added.
3. Check the permitted foreign shareholding and settle the share arrangement among the founders.
4. Prepare the itemized investment budget, the machinery list and the staffing plan.
5. Choose the project location and check the other licenses needed, such as a factory license.
6. Plan the date income starts so that it fits the tax exemption period.
7. Assign someone responsible for the 1-month deadline to accept the resolution and the 6-month deadline to apply for the certificate.

Further reading

• What businesses can apply for BOI
• After receiving a BOI promotion certificate: the conditions to meet
• Routes to 100% foreign ownership in Thailand
• BOI for software companies, digital businesses and IBCs
• Setting up a factory in Thailand: the right sequence
• Service: BOI investment and foreign investor legal advice
• Service: Company and juristic person registration
• Service: Setting up a factory in Thailand