What Are the Steps in the BOI Application Process?
From initial preparation to receiving the BOI Promotion Certificate, the process consists of 8 steps across 3 phases.
Phase 1: Before Submission
1. Prepare Your Business Plan and Project Details
Before submitting a BOI application, investors should prepare a business plan and project information required by the BOI application form and the conditions of the promoted activity, including:
- Products or services
- Production or service processes
- Machinery and equipment
- Production or service plans
- Employment, revenue, and expense projections
- Company information, shareholding structure, project location, investment details, and funding sources
2. Submit the BOI Application
Applications are submitted through the BOI’s e-Investment system, together with supporting documents such as company registration documents, applicant information, and project details.
The e-Investment system currently supports only applications under the General Promotion Measures and SME Promotion Measures. Other promotion measures must still be submitted in paper form at the BOI office.
3. Initial Review by BOI Officers
BOI officers review the application and supporting documents for completeness and accuracy. This review typically takes 2–3 business days. If revisions are required, the application will be returned for correction and resubmission. In practice, this process may involve several rounds of revisions and can take weeks or even months before the application is formally accepted.
Investors may apply as an individual before incorporating a company.
Phase 2: After Application Acceptance
4. Project Presentation and Interview
Once the application is accepted, BOI officers usually schedule a project presentation within 10 business days. During the meeting, applicants present the project details contained in the application and supporting documents and answer questions from BOI officers. The session typically lasts 1–2 hours.
5. Project Evaluation
BOI officers conduct a detailed review of the project and prepare a recommendation report for approval. Additional information or supporting documents may be requested during this stage. The evaluation process generally takes 2–5 months but may take longer depending on project complexity, document quality, and BOI workload.
6. Notification of BOI Decision
After the project has been reviewed and approved by the relevant BOI authority, the applicant will receive an official approval letter, typically within 1–2 weeks after the resolution is finalized.
Phase 3: After Approval
7. Acceptance of BOI Approval
The applicant must formally accept the BOI approval within one month of receiving the approval letter. This deadline may be extended up to three times, with each extension granted for one month.
8. Issuance of the BOI Promotion Certificate
The applicant must submit supporting documents required for the issuance of the BOI Promotion Certificate, such as:
- Company affidavit or registration documents
- Evidence of capital increase (if applicable)
- Evidence of foreign fund remittance (for projects with foreign shareholders)
- Other documents specified in the approval letter
Applicants are generally given six months to submit these documents, with extensions available. Once all required documents have been submitted, BOI typically takes approximately one month to issue the Promotion Certificate.
Applications under promotion measures other than the General Promotion Measures and SME Promotion Measures must be submitted in paper form at the BOI office.
For more information, please visit the BOI website: Procedures for Investment Promotion Application
What Should Investors Know Before Applying for BOI Promotion?
Before submitting a BOI application, investors should first confirm that their business activity is eligible for BOI promotion and that the project can comply with all applicable activity-specific requirements. Understanding these eligibility requirements before preparing the application can significantly improve the likelihood of approval and help avoid unnecessary delays. You can learn more about this topic in our article: BOI Thailand Registration Requirements: Everything Investors Need to Know
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