Opening New Horizons: How 100% Foreign Ownership through BOI is Changing the Game for Business in Thailand!
For investors and entrepreneurs interested in Phuket's real estate sector, Thailand offers numerous opportunities through updates and preferences provided by the Thailand Board of Investment (BOI). In 2024, the BOI is enhancing support for foreign investors, making Thailand particularly attractive for international business and property investment.
Key benefits from BOI for foreign investors in 2024:
100% foreign ownership: The BOI continues to allow full foreign ownership of companies in Thailand, which is crucial for the real estate sector, enabling foreign investors to own and manage their projects without the need to seek local partners.
Land acquisition: One of the significant benefits for foreign investors is the ability to acquire land, which is rare in Asian countries and critically important for implementing large real estate projects.
Tax incentives and exemptions: Investors can take advantage of significant tax incentives, such as corporate income tax exemption for up to eight years and exemption from customs duties on machinery and raw materials.
BOI's new five-year strategy (2023-2027):
This strategy includes a focus on technology and innovation, which can directly affect the development and implementation of real estate projects, especially those integrating smart technologies and sustainable solutions. Investments that enhance supply chains and transition to smart and sustainable industries will be particularly welcomed.
Approach to investing in Phuket real estate:
Foreign investors looking to develop real estate projects in Phuket should consider these new opportunities and benefits. Working with the BOI requires careful preparation and strategic planning. It is important to consider not only the financial and economic aspects of projects but also their alignment with new trends in sustainable development and innovation.
Conclusion:
Incorporating these updates and strategic directions into your plan can significantly increase the likelihood of success for your Phuket real estate project. With all these changes, Thailand represents an attractive opportunity for investments and entrepreneurship, particularly in real estate. With the preferences offered by BOI, foreign investors can expect streamlined procedures and substantial tax benefits, making the launch and development of construction and real estate projects in Phuket even more accessible and beneficial.
Considering current trends and BOI policy updates, investors should actively explore new market opportunities that align with Thailand's strategic priorities in technology, innovation, and sustainable development. It is also important to focus on creating projects that can contribute to the development of tourist infrastructure and improve the quality of housing in Phuket, as these are areas that may enjoy particular demand and government support.
Investors interested in implementing real estate projects should carefully examine the requirements and conditions offered by BOI to maximize the available benefits. It is also advisable to consult with professional legal and consulting services in Thailand to ensure that all aspects of the project comply with local laws and regulations.
Ultimately, with all the aforementioned updates, Thailand, and particularly Phuket, present great opportunities for foreign investors in the real estate sector. This could be the ideal time to explore and start new projects in this direction.
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