Receiving BOI approval is a significant milestone for any foreign company investing in Thailand. But for many businesses, whether from Japan, China, Europe, or elsewhere, the real compliance work begins the moment the promotion certificate is issued. Companies that focus heavily on the application process and then neglect the post-approval obligations risk losing their incentives entirely.
This article outlines the key steps every BOI-promoted company must manage after the certificate is in hand.
1. Machinery: Importing Under BOI Privileges
One of the most valuable BOI benefits is the import duty exemption on machinery. To use this correctly, companies must follow a structured process through the BOI’s eMT system.
The steps are:
- Register in the IC-UM system at www.ic.or.th
- Log into the eMT system via https://emt.boi.go.th/ and apply for the Machine’s Master List approval
- Once the list is approved, submit individual import approval requests through eMT before clearing machinery through Thai Customs
Important note: Each piece of machinery must be individually listed, approved, and tracked. This is not a one-time filing, any changes to the approved list require a separate amendment application. Foreign manufacturers establishing production facilities in Thailand consistently underestimate how much documentation this process involves.
2. Raw Materials: Managing RMTS Online
BOI-promoted companies that import raw materials and essential supplies duty-free must manage this through the RMTS Online system. For manufacturing operations, this is a critical and ongoing compliance obligation.
Key steps include:
- Registering in IC-UM via www.ic.or.th and obtaining a username, password, and project code notification letter
- Register project code and submit required documents to RMTS
- Submitting the raw material list and maximum stock levels for BOI approval
- Requesting import approvals through the system before each shipment
- Submitting production formulas for BOI review
- Conducting year-end account deductions to confirm that imported materials were used in BOI-approved production
The duty exemption on raw materials is conditional. If materials are not consumed in approved production or are not properly accounted for, the Revenue Department and the BOI can assess back-duties and penalties. The RMTS system creates a full audit trail, which means it also records any discrepancies.
3. Foreign Skilled Workers and Experts
BOI promotion gives companies the right to bring in foreign skilled workers and specialists under Sections 25 and 26 of the Investment Promotion Act. For companies where technical expertise is based overseas, this is often a significant benefit.
The process runs through the Single Window, Visa and Work Permit System, and requires:
- Pre-approval of the foreign position quota
- Individual applications for each foreign national and their dependants
This is an area where BOI-promoted companies frequently run into problems. The approval covers specific positions, not individuals. When a person changes roles or a new staff member needs to be brought in, a new application is required. Bringing in foreign technical staff before receiving proper approvals results in fines and potential visa cancellations.
4. Corporate Income Tax Exemption: Using the e-Tax System
BOI tax incentives, including corporate income tax exemptions under Section 31, must be actively claimed through the BOI’s e-Tax system. They are not applied automatically.
The process requires:
- Preparing financial data and supporting documents
- Entering information into the e-Tax system
- Having a certified auditor review and sign off on the application
- Submitting the auditor’s opinion through the system
This stage requires careful preparation, particularly for companies managing intercompany arrangements between a Thai subsidiary and an overseas parent. The figures submitted for BOI tax exemption purposes must be consistent with what is reported to the Revenue Department. Inconsistencies between BOI filings and tax filings are a common trigger for audits.
5. Progress Reporting and Opening Operations
Every BOI-promoted company has two ongoing reporting obligations:
- February each year: Submit a project progress report via the e-Monitoring system (for companies not yet in full operation)
- July each year: Submit an annual business performance report via e-Monitoring
Companies must also apply for formal approval to open full operations within 36 months of the promotion certificate date. This requires a separate application confirming that the project has been implemented as approved.
Missing annual reporting deadlines is treated seriously by the BOI. In practice, companies where the Thai operation is managed or overseen from overseas tend to miss these deadlines simply because no one has been assigned clear responsibility for them on the ground in Thailand.
What Companies Consistently Underestimate
The BOI certificate opens the door. The post-approval compliance framework is what keeps it open.
Foreign investors evaluating BOI Thailand often ask whether the incentives are worth the administrative commitment. The answer is yes, but only if proper systems and local support are in place from the start. The eMT system, RMTS Online, e-Tax, and e-Monitoring are all separate platforms, each with their own registration requirements, deadlines, and documentation standards.
Companies accustomed to regulatory environments where processes move quickly or relationships carry significant weight sometimes find the Thai BOI system more procedural and documentation-dependent than expected. Approvals follow defined processes, and keeping your incentives intact requires ongoing attention not just at the application stage.
Getting the post-approval framework right from day one protects your tax incentives, your staff’s work authorizations, and your standing with both the BOI and the Revenue Department.
How Kreston Thailand Can Help
If your company has recently received BOI promotion or is currently in the application process, post-approval obligations should be part of your planning before the certificate arrives, not an afterthought.
Our team works with foreign businesses across the full investment lifecycle, from BOI application through to ongoing compliance, tax, and business advisory support.
Contact Pornthip Wongmanotham, Business Advisory Manager at Kreston Thailand, to discuss your BOI compliance obligations or to review your current post-approval setup.
Reference: https://www.boi.go.th/