The decision to register a Thai limited company or a BOI-promoted company in Thailand depends on various factors and the specific needs of your business. Both options have their own advantages and considerations. Here are some factors to consider when making a decision:
- Business Activities: Thai limited companies offer more flexibility in terms of business activities. If your business falls outside the scope of BOI-promoted industries or if you plan to engage in a wide range of activities, a Thai limited company may be more suitable.
- Incentives and Privileges: BOI-promoted companies enjoy specific incentives and privileges, such as tax exemptions or reductions, streamlined work permit processes, and import duty exemptions. If your business operates in a BOI-promoted industry and can fulfill the promotion criteria, the benefits offered by the BOI can be significant.
- Foreign Ownership and Control: Thai limited companies allow for full foreign ownership and control, while BOI-promoted companies may have restrictions on foreign ownership and may require Thai nationals to hold shares. If maintaining full control and ownership is important to you, a Thai limited company may be preferred.
- Administrative Requirements: Setting up a Thai limited company generally involves simpler and quicker procedures compared to the application process for BOI promotion, which can be more complex and time-consuming. If you prefer a straightforward company registration process with fewer administrative requirements, a Thai limited company may be more suitable.
- Industry-Specific Support: BOI-promoted companies benefit from industry-specific support and guidance from the BOI, including assistance with permits, licenses, and government relations. If you value the specialized support provided by the BOI in your industry, it may be advantageous to pursue BOI promotion.
- Long-Term Goals: Consider your long-term business goals and objectives. If you plan to expand, access specific industry benefits, or leverage the advantages provided by the BOI in the long run, BOI promotion may be a strategic choice. However, if you have a more diverse business model or plan to operate in multiple industries, a Thai limited company may offer more flexibility.
It is crucial to consult with legal and business professionals who have expertise in company registration and BOI promotion to assess your specific business requirements and determine the most suitable option for your circumstances. They can provide guidance tailored to your business goals, industry, and long-term plans.
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