BOI and FBL in Thailand: How to Get 100% Business Ownership in 2026

The queue for foreign business licenses in Thailand is growing longer. The Department of Business Development (DBD) and the Board of Investment (BOI) are overwhelmed with applications, and a process that used to take 3-4 months now drags on considerably longer. Entrepreneurs who file in spring can realistically launch before the high season. Those who wait until autumn risk losing an entire season of revenue.

For international entrepreneurs planning a business in Thailand, the takeaway is simple: act now. A BOI certificate and an FBL license offer something the standard 51/49 Thai-partner structure cannot: full control of your company.

Quick Answer

• BOI (Board of Investment) and FBL (Foreign Business License) allow a foreigner to own 100% of shares in a Thai company without a Thai partner

• Standard BOI/FBL processing time has stretched from 3-4 months to considerably longer due to a backlog at government agencies

• Filing in April-May 2026 gives you a realistic shot at being ready for the high season of November 2026 to March 2027

• BOI unlocks tax holidays of up to 8 years (and up to 13 years under certain categories), zero import duties, and simplified work visa processing

• Eligible sectors include tourism, education, healthcare, manufacturing, IT, and logistics

• Once an application is filed, you can already open bank accounts, apply for visas, and start marketing

Key Facts

• The 51/49 structure is the standard Thai company setup, where a foreigner can hold a maximum of 49% of shares. The Thai shareholder controls the majority stake, which limits the foreign owner's decision-making power

• BOI (Board of Investment) is Thailand's state investment promotion body, issuing certificates to promoted companies. BOI promotion grants the right to 100% foreign ownership plus a package of tax incentives

• FBL (Foreign Business License) is a license issued by the Department of Business Development (DBD) that permits foreigners to operate in activities restricted under the Foreign Business Act

• Corporate income tax exemption of up to 8 years (and up to 13 years for certain priority categories) is one of the core BOI benefits. Thailand's standard corporate tax rate is 20%

• BOI grants zero import duties on machinery and raw materials, which is critical for manufacturing and technology projects

• The volume of BOI and DBD applications in 2025-2026 has risen sharply, and processing times have noticeably lengthened compared to previous norms

• Beyond BOI and FBL, a third route exists for eligible investors: the US Treaty of Amity, which also allows majority or full US ownership of a Thai company under specific conditions

• Thailand's high season (November to March) is the period of peak demand in tourism, retail, and services. A business that isn't operational by November misses the most profitable months of the year

How to Start: Step by Step

1. Identify your business activity and the right vehicle. BOI suits manufacturing, IT, healthcare, education, and high-value tourism projects. FBL suits trading, services, and consulting. Some activities qualify under both mechanisms. Consult a lawyer specializing in Thai corporate law before committing to one path

2. Prepare a business plan and financial model. BOI requires a detailed project description: investment volume, number of jobs created for Thai nationals, and a technology development plan. Minimum registered capital depends on the sector but typically starts at 2 million THB (approximately $57,000)

3. Assemble your documentation package. Founders' passports, financial statements of the parent company (if applicable), a detailed project description in English, and technical specifications for any imported equipment

4. Submit your application through official channels. BOI applications go through the e-Investment Promotion system or in person at the BOI office in Bangkok. FBL applications are filed with the Department of Business Development (DBD)

5. Start launch preparations in parallel. Once your application is filed, you can already open corporate bank accounts, apply for work permits for key staff, and begin marketing activities

6. If you plan to travel for in-person meetings and site visits, book accommodation in Bangkok early so you can schedule visits to government offices and legal advisors around your appointments

7. Receive approval and register your company. Once BOI or DBD approves your application, you register a legal entity with full foreign ownership. From this point, the company can legally operate in Thailand

8. Arrange visas and work permits. BOI-promoted companies get streamlined access to Smart Visas and work permits through the One Stop Service Center

FAQ

What's the difference between BOI and FBL?

BOI is an investment promotion scheme with tax incentives (holidays of up to 8-13 years, zero import duties). FBL is simply a license permitting foreign ownership, without tax perks attached. BOI suits manufacturing and technology; FBL suits trading and services.

Can I own 100% of a business in Thailand without a Thai partner?

Yes. That is precisely what BOI and FBL exist for. Without these tools, a foreigner is capped at a 49% stake in a standard Thai company. A third option, the US Treaty of Amity, also permits full or majority US ownership under specific conditions.

How much does a BOI certificate cost?

The government filing fee itself is minimal. The main costs are legal fees (ranging from 100,000 to 500,000 THB depending on project complexity) and meeting the minimum capital requirements.

Which industries qualify for foreign business through BOI?

Tourism and hospitality, healthcare and medicine, education, IT and digital technology, manufacturing, logistics, agro-processing, and energy. The full list of eligible categories is published on the BOI Thailand website.

How long does it take to get BOI approval in 2026?

The process used to take 3-4 months. Application volumes have since increased processing times significantly. Filing in April or May gives you a realistic chance of completing everything by November.

Do I need to be physically present in Thailand to apply?

No. Applications can be filed through an authorized lawyer. However, being present in person can speed things up, especially during the BOI committee interview stage.

What can I do while my BOI application is under review?

You can already open corporate bank accounts, apply for work visas for foreign staff, and prepare your business for launch. A pending application does not block these preparatory steps.

What tax benefits does BOI provide?

Exemption from corporate income tax (standard rate 20%) for up to 8 years (up to 13 years for certain priority categories), zero import duties on machinery and raw materials, and simplified work permit processing for foreign specialists.

Can BOI be used to buy real estate?

BOI is designed for operating businesses, not personal property purchases. However, a BOI-promoted company can acquire commercial real estate for business use, including land, which is normally restricted for foreigners.

The 2026-2027 high season is closer than it looks. Every week of delay narrows your window of opportunity. File your BOI or FBL application within the next 30 days, and you could have a fully operational business with complete foreign ownership in place before the most profitable period of the year begins.

Source: AIM Bangkok

Ready to invest in Thailand? Our experts will help you find the perfect property.