Thailand’s Board of Investment (BOI) gives promoted companies tax holidays, help with work permits and the right to own land for their business, even when foreigners hold the majority. For individuals, its best-known program is the Long-Term Resident (LTR) visa.
What is Thailand’s Board of Investment (BOI)?
The Board of Investment (BOI) is the Thai government agency that grants incentives to companies in activities the government wants to encourage. It works under the Investment Promotion Act B.E. 2520 (1977, amended). The incentives include corporate income tax holidays of 3 to 8 years, tariff exemptions on imported machinery, help with work permits, and the Section 27 right to own land.
There is no BOI scheme for buying a home.
Does Section 27 let a foreign-owned company own land in Thailand?
Yes. Section 27 of the Investment Promotion Act lets a BOI-promoted company own land for its promoted activity, even when the company is majority foreign-owned. The right comes with three conditions:
- The land area is approved when the promotion is granted.
- The land must serve the promoted purpose. Personal residential use triggers revocation.
- On revocation or wind-down of the activity, the land typically must be sold within one year (Section 27 paragraph 2).
This right fits factories, commercially operated hotels, large serviced-apartment buildings and research and development (R&D) campuses.
Can foreigners use Section 96 bis to own residential land?
Yes, through a separate route in the Land Code. Section 96 bis lets a foreign individual own up to one rai of residential land. The Department of Lands procedure sets these conditions:
- at least THB 40M of qualifying investment, in the categories the procedure lists
- the investment held for at least five years
- approval from the Minister of Interior
- land in Bangkok, Pattaya, a municipality or a designated residential zone, outside military safety zones
The route is active but exceptional. Most foreign buyers use condominium freehold, registered leasehold, superficies, usufruct, or a genuine business structure.
Does the LTR visa give BOI-promoted foreigners land ownership?
No. The Long-Term Resident (LTR) visa is a residency visa, not a land right. It was launched in September 2022, and BOI runs it.
The LTR visa gives:
- a 10-year renewable visa in four categories (Wealthy Global Citizen, Wealthy Pensioner, Work-from-Thailand Professional, Highly-Skilled Professional)
- multiple entries with no re-entry permit
- annual reporting instead of 90-day reporting
- a tax exemption on foreign-sourced income for the Wealthy Global Citizen, Wealthy Pensioner and Work-from-Thailand Professional categories, subject to official conditions (see Thailand tax residency rules and the 180-day threshold)
- a digital work permit for holders who work for an entity in Thailand, with a THB 3,000 annual fee
- dependant visas for a legal spouse, parents, children under 20 and legal dependants, with no numerical cap
LTR holders buy condos under the 49% foreign quota (The 49% foreign quota in Thai condos — how it actually works) and lease land under the usual rules (Freehold vs leasehold property in Thailand — what's the difference and which to choose). The property specifics are in LTR (Long-Term Resident) visa — US$500,000 in Thai property, ten years.
When does BOI promotion make sense for buying property?
BOI promotion makes sense when the property serves a commercial or industrial business:
- a hotel of 100 or more rooms (BOI activity 7.4)
- serviced apartments at scale (some service sub-activities qualify)
- a healthcare, retirement or wellness facility (activity 7.32)
- an industrial or commercial project where the property is incidental to the promoted activity
For these projects, the tax holidays and the land right change the economics. For a home, a Thai company without BOI promotion carries less ongoing reporting (Can a Thai company own property, and does a foreign holding company change that?).
What does it cost to set up and maintain a BOI-promoted structure?
Costs scale with the project, so there is no universal figure. Get a written quote for your own project, as you would for Thai-company setup costs. These items recur:
- the BOI application, with government fees and advisor fees
- company formation and structuring
- annual BOI compliance reports, audited accounts and activity progress filings
A company that does not fulfil its commitments can lose its privileges and owe tax retroactively.
Who is BOI promotion the right fit for?
BOI promotion fits developers and operators of commercial-scale projects:
- developers of hotels or serviced apartments at scale
- operators of healthcare or wellness facilities
- industrial or technology projects where the land serves the business
