To attract foreign investment, the BOI offers a wide range of fiscal and non-tax incentives. To reduce risks, the BOI offers guarantees against nationalization or competition from new state enterprises. It also grants permission to bring in foreign nationals to perform investment feasibility studies or to work under promoted projects, and grants permission for foreign entities to own land for carrying out promoted activities or for residences of workers and management.
To help reduce the initial investment costs and improve the overall rate of return, the BOI offers an attractive range of tax incentives, including exemption or reduction of import duties on imported machinery, exemption or reduction of import duty on imported materials and components, and a corporate income tax holiday of up to 8 years, etc.
The BOI also offers investors a wide range of services, before, during and after the application process. For example, BOI can help find joint venture partners, promotes industrial subcontracting, offers business facilitation services to help resolve issues involving other government agencies, and operates a One-Stop Service Center for Visas and Work Permits, which enables investors to obtain long-term visas and work permits in three hours or less.