business registration

Advantages and How To Setup Limited Company in Thailand

Thailand, like any other countries within the Southeast Asian region, encourages overseas investors to their country to enhance their economic activities. And unlike other countries within the area, Thailand happens to have the proper circumstances, conditions and enticements to lure foreign investment into the country. And for you to facilitate the influx of foreign companies to Thailand, several systems were set up from which foreign investors can pick after they want to set up a corporation inside the country.

Private limited company

one of the most often used legal entities in Thailand is the private limited company, which has the same features and functions as the limited liability company (LLC) in the country. In Thailand, a private limited company is used as a way to operate enterprise in accordance with the business and investment laws of Thailand. it’s far required that 51% of a organisation’s stocks have to be held through Thai nationals. The last 49% can be held by using anyone which include foreign investors.

Advantages of private limited corporation

the biggest benefit of establishing  a private limited company is the fact that legally, it is a stand-alone company under Thai law. And for foreign investors who need to govern the ownership of the corporation, the 49% limit can be exceeded or exempted, if the corporation is granted a foreign business License, which means the business have to be particular and need to not compete with neighborhood Thai businesses.

Setting Up

To set this type of business structure, at least three individual promoters (shareholders) is required, and at least one director is elected to manage the business or the organization. The business registration process includes:

• Reservation of name. this is done via filing a signed name Reservation form to the department of business development of the Ministry of commerce (MOC). The form need to include the preferred names along with the alternative names which may be taken into consideration if the primary names have already been used by different entities.

• Submit Memorandum of association or MOA. This should include the name of the company, the province where the company will function, scope of organization’s business, capital (including the number of shares and their par value) to be registered, and the names of all of the promoters.

• Calling of Statutory meeting. once the share structure is decided, a statutory meeting is called to facilitate:

• Adoption of Articles of association (by-laws). A Thai lawyer can help out in preparing the Articles of association.

• Ratification of any contract entered into which include expenses incurred with the aid of the promoters in promoting the organization

• fixing the amount of remuneration, to be paid to the promoters

• fixing the number of preferred stocks to be issued and the nature and volume of the preferential rights accruing to them

• fixing the number of ordinary shares or preferred shares to be allotted as fully or partly paid-up

• Appointment of the initial directors and auditors and determining the respective powers of the directors

• Registration of company. inside three months from the date of the statutory meeting, the directors should publish the application to check in the company. Failure to register inside the specified period, the company statutory meeting shall be nullified and void. when this takes place, a meeting for persons who reserve will be arranged so they can buy the stocks again.

• Tax documents Registration. businesses that are liable for income tax need to register and obtain a tax identification card and number from the revenue department within 2 months of the incorporation date or at the start of the operations.

Workers Rights in Thailand

As in any country worldwide international, the government of Thailand has established terms and conditions protecting the interests of both the company and the employee. Thailand’s labor protection Act 2541 (1998) of the department of labor protection and Welfare defines the rights of employees and the responsibilities of employers. underneath the provisions of the Act 2541, all employers need to outline the terms of employment for their workforce. Employers with 10 or more regular personnel are required by way of law to specify working guidelines and policies – a copy of which must be submitted to the department of labor protection and Welfare and published at the work premises.

The following rights of personnel are defined in the labor protection Act 2541 which can be normally violated by employers:

Regular working hours

Employers that require their personnel to work for more than eight hours a day or exceeding forty eight hours per week are violating the terms beneath the labor protection Act 2541.

Breaks during regular work hours

Any employer that does not offer relaxation duration of not less than one hour a day after working 5 hours violates the provision concerning required rest period to be given by means of employers to their employees.

Weekly holidays

An organization violates the worker’s rights if he:

• Does not allow an worker to have at least one day off per week as a weekly holiday or the rest day is given after 7 days of continuous operation.

• Does not consist of the weekly holiday within the basic pay of the regular personnel.

National Holidays

Employers violate the provisions of the employee’s rights in the event that they don’t provide their personnel with thirteen national holidays including national labor day. If a holiday falls on a weekly holiday, the worker will be given a further holiday on the subsequent working day. The employers have to pay the personnel their fundamental pay on national holidays.

Annual leave

If an organization has an employee that has worked for one full year continuously, the worker is entitled to an annual vacation of not less than six working days. employees operating for less than 365 days could be entitled to an annual vacation on pro-rata basis. Failure to provide this can be in violation of the worker’s rights.

Basic Pay

An employee is entitled to get his basic pay not lower than minimum rate of basic pay as mandated by using the government. If employees are paid lower than minimum rate of basic pay, the employers are in violation of the basic pay rights of the employees.

Overtime Pay, Holiday Pay and Holiday Overtime Pay

An organization may also require an employee to work extra time or on holidays as necessary to the continuous overall performance of work but must be pay overtime rate. by law, employers may also require an employee to work on holiday if business is that of a hotel, theater, transport, restaurant, café, club, society, medical establishment or such other companies as prescribed by the Ministerial regulations with consent of the worker for each instance.

Employers that require employees to work beyond regular time on a working day and do not pay time beyond regulation at the rate of no longer less than one and a half times the rate of the hourly basic pay earned in normal working hours for the extra time hours worked, or no longer much less than one and half times the rate for each unit of output on a working day for employees who receive basic pay upon output. If the overtime coincides with a holiday, the corporation shall pay holiday overtime pay on vacations to the worker of not less than treble basic pay rate earned according to hour or per unit of output on a ordinary working day.

business registration

Steps on How to Register Company in Thailand

Business entrepreneurs making plans to operate a business in Thailand should take time to get acquainted with Thai laws on registration of companies.
Businesses in Thailand are labeled underneath Thai laws as:

  • Sole proprietorship – this ismuch likesole business ownership structure within the America.
  •  Partnership – this is similar to a partnership corporation in other countries. There are two kinds of partnership: limited and ordinary.
  • Limited company – this is similar to the limited liability company (LLC) structure in the United States. Which is formed through dividing the capital into equal share. The shareholder’s legal responsibility is limited to the amount of stocks held by means of the shareholder. The most common business structure used in Thailand is the limited company. The following registration techniques are in accordance with what the Ministry of commerce has stipulated.

Step 1. Select Promoters (Shareholders). A private limited company requires a minimum of three promoters while a public limited company needs 15 promoters. Through a n assembly (required by law), the promoters will determine upon a listing of company names (at least 3 names) to test for availability.

Step 2. Publish the chosen company names for reservation. This process will take a look at if there are different companies that have used your proposed company name. If a name is accepted you may continue with the following step. otherwise, you may publish possible company names again till a call is cleared in your business.

Step 3. A statutory meeting with promoters as required by Thai law must be convened to:

• approve a company name
• decide official address
• set up goals of the organization
• set quantity of share capital to be registered and how it is divided
• make a list of promoters’ names, addresses, occupations, and number of stocks each

Step 4. A “Memorandum of association” (MOA) containing the information in

Step 3, must be filed with the district office protecting the official company address, within 30 days of approval of the company name. fees need to be paid: 50 baht per 100,000 baht of registered capital, minimum 500 baht and maximum 25,000 baht.

Step 5. put together your company logo, create a company stamp with your logo.

Step 6. The agency registration application need to be submitted by way of the directors withinthree months after the MOA has been filed. the following should be part of the submission:
• cash payment for the registration fee (500 baht in line with 100,000 baht of registered capital, minimum 5,000 baht, maximum 250,000 baht)
• completely filled out company documentation
• the company stamp

Step 7. you will get your company papers again after a day or two or after the MOC has completed the registration of your corporation.

Step 8. After your company registration certificates is issued, you need to go  to the revenue department to get a company tax identity card. A laminated card can be issued collectively with your company tax identification number.

Step 9. go to the bank together with your identification card, company tax id card and company documentation and set up a bank account.

Step 10. you’re ready to operate your business.

property law

What Is Thailand’s Property Law?

In general, the property laws and regulations of Thailand are patterned after the western nations in as much as the same way that the Thailand Civil Code is primarily based on the mainland European civil law system. Thai property laws are in effect considered western.

Possession of land in Thailand is ruled through the Land Code BE 2497 (1954), the Civil and commercial Code, Land Reform for Agriculture Act BE 2518 (1975) and the rules set forth through the Ministry of the interior. The conditions imposed on land ownership for non-Thai nationals are so restrictive that possession isn’t practicably possible at all.

There are, however, several approaches in which a foreign national can make about land ownership without violating the provisions of the property laws of Thailand. There are three ways to get around land ownership in Thailand by way of a non-Thai national:

  • Register a Thai nominee
  • Make and register a limited liability company to own the land
  • Developing long-term rentals with assured rights to renewal for registered ownership under a Thai nominee’s name or under a limited liability company’s name.

Register a Thai Nominee

This option permits for a much faster and simple straightforward processing with out the load of extra costs. And this is why this option has emerged as one of first choice of many expatriates or foreign nationals who are eager to invest in homes in Thailand.

This method is generally suitable wherein an existing long-time period relationship has been set up and in place.

The foreign national need to have established retaining full control and influence over the nominated Thai national. if you are confident about your controlling role over the nominated Thai national, this could be the right choice to fulfill land ownership.

The apparent downside of this selection is the fact that legally, the land is not under your control, since it isn’t under your name. In the event of severing ties with the nominated Thai national for whatever motives, you don’t have any way to resell the land. you can only protect the property in question if a last will and testimony is in place controlling the bequeathing of the property at the death of the Thai nominee. Which means the Thai nominee will sign a last will and testament specifying that the property should be transferred to some other individual who could be your new Thai nominee in case of the first nominee’s demise.

Registration of a limited liability company

This approach has been the famous choice for lots overseas nationals within the past in structuring a way to own land in Thailand. The foreigner need to understand and be aware aboutall the requirements to process and sign up a limited liability company so as for this method to work. this indicates having only 49% ownership by foreign nationals and most people 51% of the shares are held by means of the local Thai nationals. As within the first option, the conditions do not warrant protection on the interests of the overseas nationals.

So it is vital that sure legal documents are made and in place to make certain that you nevertheless hold the control over the property registered underneath the organization’s name.

Leasehold

This technique is frequently ignored and not even taken into consideration by using foreign nationals wanting to own homes in Thailand. The principle of this method is to create a continuously renewable leasehold ownership structure that equates the pertinent advantages of Freehold possession including:
• security of tenure
• enjoy the benefits of asset appreciation
• can make your asset as a gift to whom you choose.
• property is yours to enjoy till sold or bequeathed.
The regulation is precise on its conditions that non-Thais won’t own the freehold title on the land. it’s far therefore crucial that two or separate contracts are drafted for each property – land and building. ownership of buildings may be legally transferred to the non-Thai national.
like the first two methods, this approach, too, needs essential safeguards to ensure that the foreign national enjoys the advantages of freehold ownership in phrases of control and protection.

The lease settlement should contain the following clauses:

1. Non-Thai must have right of access and abode on the land.
2. in the event that the laws on foreign land possession change within the future, the non-Thai national must have the right to transform the leasehold to freehold ownership.
3. The right to sell and transfer the assets
4. A non-Thai national need to have full and irrevocable power of attorney with respect to the land granted via the nominated Thai national to the non-Thai. In effect the Thai national returns control to the non-Thai.
5. The lease agreement have to have guaranteed extension clauses granting in addition terms up to a most of 90 years earlier than renewing the rent.

work permit thailand

Procedures to Obtain Work Permit in Thailand

Without a work permit, foreigners are not allowed to work even if they have got different types of visa. the following procedures need to be followed in applying for a Thai work permit or visa:

The foreign worker should acquire a nonimmigrant visa or a resident visa before entering Thailand. this is required to be able to apply for a work permit. With a non-immigrant B visa, the overseas worker may begin to process the work permit. work permit application processing is carried out at the office of the Ministry of labor. the standard processing takes 7 business days, once in a while more. The overseas worker applying for a work permit need to have an available organization who will provide the files required for processing. The foreign employee need to also have a position or a job that is not prohibited to foreigners.

If the process applied for calls for a license under a particular regulation (e.g. instructor, physician, press card from the public relations department, etc.), similarly to the Alien occupation law, a photocopy of such license will be attached.
If the applicant is married to a Thai national, the authentic and photocopies of marriage certificates, spouse’s identification card, birth certificate of kids, household registration, in addition to photocopy of every page of the applicant’s passport should be provided.

Work permit, as soon as approved and granted should be carried by the foreign employee all of the time particularly at the place of work for presentation within the occasion of random immigration checks. The foreigner is only allowed to carry out the job stated inside the work permit and with the specific organisation.
The foreign worker desires to pick up his blue work permit book personally on the Ministry of labor office. work permit can be issued with validity starting from 90 days, 6 month or 12 months and this is at the discretion of the labor officer. it is also possible to have a visa (non-immigrant or resident) that expires on a completely different date to the work allow due to the new immigration regulations.
if you require some help in processing your immigration or work visa in Thailand, don’t hesitate to email or call HWAL legal in Phuket.

Files needed for a Work Permit Application:

Company Requirements

  • Employment agreement
  • Letter of employment stating position and salary of applicant
  • Office map
  • Photocopy of the director’s passport and work permit with signature affixed
  • Financial statement
  • Withholding tax of the company
  • Application for VAT
  • List of shareholders
  • Company certificates and objectives
  • The employer should provide the following:
  • Application form (W.P.2)
  • Three 5×6 cm. full-faced, bareheaded, black and white or color photographs, taken no more than six months prior to the filing of the application
  • A recent medical certificate from a first-class licensed physician in Thailand stating that the applicant is not of unsound mind and not suffering from contagious or infectious diseases, narcotic addiction or habitual alcoholism
  • Original passport
  • Letter of Employment
  • Certificate of Degree and CV or Resume showing application’s educational qualifications and describing in detail the applicant’s past position, duties, performance, and place and length of employment
Thailand Visa

Student Visa Application in Thailand

In general, any overseas national who wants to enter the kingdom of Thailand is needed to acquire a visa according to the cause of their stay inside the country. but, there are specific nations whose citizens are allowed to live in Thailand for a selected number of days while not having to gain a visa of any sort.

Foreign nationals who want to study in Thailand, they need to acquire a student visa because it will allow them to live in Thailand even as they pursue their studies. Any overseas national can practice for a twelve months Non-Immigrant student visa but Student must be at least 12 years old and enrolled in any one of the educational programs by recognized and accredited educational institutions in Thailand.

The school or educational institution will apply for a letter of acceptance from the Thai Ministry of education requesting a 365 days ED visa for the student. This letter will be submitted by the student to a Thai embassy or consulate outside Thailand. The Thai embassy or consulate will issue a one-year Non-immigrant ED visa so as to be used in entering Thailand.

On arrival in Thailand, the student will be permitted to stay for 90 days.

Requirements for Eligibility to ED (Education) Visa in Thailand

Educational programs may be:

  • 6-month course with 100 hours of group study and 30 hours of private lessons.
  • 11-month course with 180 hours of group study and 40 hours of private lessons.
  • 1 year course with 18 hours of group study and 50 hours of private lessons.
  • Procedure in Processing ED Visa

A deposit of 70% of the tuition fee should be paid to the school in order to start Visa processing If the student is already in Thailand holding a tourist visa, If the student is outside Thailand, the tuition fee for the selected course will be paid in full.

Student must submit the following documents to the school for visa application processing:

  • Copy of passport
  • Application form provided by school properly filled out
  • 6 photos

If you need legal help don’t hesitate to contact us.

classification of heir in thailand

Validity of Thai Wills

The idea of making a will is something most of the people are reluctant to even consider. As loss of life is a very sensitive issue, any topic that is directly or indirectly associated with it is avoided. however, for other people, writing a will is almost a necessity particularly if it concerns large property, assets and investments.

In Thailand, the exercise of making a will and testament is pretty not unusual amongst those in the top strata of society. The Thai people generally recognize the significance of executing a last will and testament so that the distribution of the property and residences will be done according to what is distinct inside the will. in the absence of which, the Thai inheritance law will decide what happens for your property upon your demise. One possibility is that your property, with out a will, can be distributed in line with the conditions of the Thai Civil and commercial Code taking account the kinds of relationships and order of priority of the lawful heirs.
For a Thai Will and testament to be valid the will need to be made by someone of sound mind and need to follow one of the forms prescribed in chapter 2 of the Civil and commercial Code.
a person need to be at least 15 years of age or he cannot witness or make a will. The beneficiary in the last will or testament can’t be a witness of the will.
A Thai Will and testament is considered final and executory if all the particular necessities and prerequisites of the sort of Will and testimony made are complied with. If one of the specifications are not met, it can be questioned for its validity, and in the end be considered null and void.

Kinds of Will in Thailand

Holographic Will. The most common last will and testament in Thailand is one carried out via the testator in writing, dated at the time it turned into written, signed through the testator with at least 2 witnesses who sign their names to certify the signature of the testator.
A secret document registered with the local amphur. The testator have to close the document (his last Will), sign and hand it over to the same official as defined in section 1660 of the Civil and commercial Code. 2 witnesses must also sign the closed document and the official will seal the closed final Will and testament. If the last Will and testament was not handwritten by way of the testator, he (testator) have to state the name and domicile of the writer.
Will by using word of Mouth. that is allowed under Thai law in sure cases or superb instances such as imminent danger of dying which prevents the person from creating a will in any of the prescribed forms as prescribed inside the Civil and commercial Code.
A public document. The last Will and testimony may be made as a public record at the local amphur by way of a declaration to the relevant public officer. The testator must claim his needs inside the Thai language to the general public officer who in turn have to write down the testator’s statement in the Will in Thai. The official should read the declaration once more to the testator and witnesses who have to additionally sign the last Will that is drawn up with the aid of the Thai public officer. it’s far required that the testator using this form need to read and write Thai.
The last Will and testament in Thailand is difficulty to the appointment of an executor or administrator. The court determines if the testator has made a valid will. If no legitimate legal Will and testament is made or decided, the property could be disbursed most of the statutory heirs pursuant to precise Thai Inheritance laws.

Kinds of Divorce in Thailand

Depending on where you are located, divorce may be an normal discussion or it could be an uncomfortable situation for discussion. In Thailand, divorce is legally common even though it is an uncomfortable situation. depending at the situations surrounding the petition for divorce, the dissolution of marriage complaints in Thailand may be faster as compared to other nations where divorce proceedings can take out years before a decision is granted. A lot of it has something to do with the understanding of the legal team engaged to address the divorce petition. The process is different from Thai couples and foreign couples or a mix of one Thai and a foreigner.

There are several types of divorce in Thailand:

Uncontested Divorce

This form of divorce is the recommended divorce because it is easy and does no longer require any courtroom intervention. each parties to the marriage are in agreement in finishing the marital union. each parties need to be physically present when they apply for uncontested divorce before the local register.

Contested Divorce

This type of divorce offers one side to the marriage to seeks the court’s assistance in dissolving the marriage situation to the existence of one of the grounds prescribed beneath Thai law. This is a usual an choice taken if one of the spouses does no longer agree to the dissolution of the marriage. The requesting partner, in essence has to prove that the opposite spouse has dedicated one of the grounds for serving divorce. some of the grounds include adultery, if there are disagreements at the custody of children and marital property sharing, if the spouse was abandoned by the other partner for more than a year, and so forth. The court will intervene as important to place an end to the marriage and the problems that go together with the divorce complaints. Contested divorce includes court hearings and can be an luxurious challenge.

There are also difference in each difforce that can be classified by how couples marriage and ethnicity are arranged.

Most of Foreigners end up marrying a Thai national after repeated visits to the country. Such marital unions may additionally last for many years and a few won’t for a number of reasons. Divorce is then necessary to put an end to such union. In most cases, if the wedding happened in Thailand, the Thai national will choose an uncontested divorce as this is the kind of divorce more favored by the Thais. The foreigner must know that this form of divorce may not be recognized in a few nations. it could create potential problems within the future specifically if the foreigner has plans of re-marrying.

If that is the case, then having a family lawyer in Thailand that has years of experience in managing divorce for each Thai and foreign nationals is the greatest option. this will aid in smooth transition of cases in which both parties will not suffer and be aggrieved. if you want help of family legal professional Thailand, you can contact this HWAL law firm.

It is important that foreigners are aware of the different ways divorce procedures are done in Thailand compared to their country of origin to avoid complications once they undergo the painful process of divorce.

 

classification of heir in thailand

Heir Classification in Thailand

Every country has its very own sets of laws on intestacy or intestate succession and inheritance. There are laws govern Thai will or determine for legal heirs within the event that the source of the inheritance passed away without a will. In Thailand, the provisions of the Thai Civil and commercial Code will govern in the event someone died without an executed will to explain how the assets can be disbursed among heirs.

What is the Estate Succession in Thailand?

The entire estate of a deceased man or woman, additionally referred to as a decedent, who has not completed a last will, will be allotted to his or her statutory heirs. The legal guidelines on intestate succession can also apply when the testator made a will but did not eliminate all his or her properties, wherein which the remaining assets which were no longer included inside the will shall additionally be dispensed to the statutory heirs in keeping with Thai laws.

If someone is married, the surviving partner is likewise considered a statutory heir and the percentage of the surviving spouse relies upon on who she/he concurs. If the testator or the decedent left numerous wives who acquired their legal status previous to the effectivity of the Thai Civil and commercial Code, all of the wives shall inherit equally. however, as between the other halves, the number one wife is entitled to one share while the secondary wife can best claim ½ of the percentage to which she is entitled.

Under Thai laws, the statutory heirs of the same class shall be entitled to equal shares. If there is only one surviving parent, the parent receives the entire portion of the allotted asset. If there are three brothers and sisters of full blood, the percentage to which they’re entitled to might be divided into three parts.

The surviving partner shall be entitled to her proportion according with the following:

If the decedent left a spouse and kids, the partner is entitled to 50% of the estate and the children are entitled to the closing 50% which will be similarly allotted among the kids.

If the decedent left his partner and parents, the spouse is entitled to 50% and the parents to the alternative 50%;

If the decedent left his spouse and his brothers and sisters of complete blood, the partner is entitled to 50% and the opposite 50% is going to his brothers and sisters;

If the decedent left his spouse and brothers and sisters of full blood, grandparents, uncles and aunts, then the spouse will inherit 2/3s of the property and the final heirs may be entitled to the opposite 1/3 in order to be divided in same shares among them. The surviving spouse takes the whole estate within the absence of any other statutory heir.

Underneath section 1627 of the Thai Inheritance laws, “an illegitimate child who has been legitimated by his father and an adopted child are deemed to be descendants within the same way as legitimate children in the meaning of this Code.”

There are six classes of statutory heirs in Thailand, and they are entitled to inherit in the following order:

Descendants
Parents
Brothers and sisters of full blood
Brothers and sisters of 1/2 blood
Grandfathers and Grandmothers
Uncles and Aunts
Surviving spouse(s)

BOI Advantages, Protection and Guarantees

Thailand started to understand overseas investment as an important element in growing the countryís economic system inside the 1950s through enacting its first investment promotion legislation in 1954 via the industrial promotion Act No 19. but, the shortage of an administrative agency limited this Actís effectiveness.

The Industrial Promotion Act B.E. 2503 (1960) created the Board of Investment addresses the issue at hand. The Industrial Promotion Act B.E. 2505 (1962) and the National Executive Council Announcement No. 227 B.E. 2515 (1972) followed. These laws contained similar provisions for the administration and granting of incentives for both foreign and domestic investment

The Board of Investment is mandated by the government to grant the following incentives, guarantees and protection governed under The Investment Promotion Act B.E. 2520 (1977).

Incentives

Tax Incentives. The Act stipulates that promoted investments are entitled to acquire numerous types of tax exemptions. Promoted investments are exempted from corporate income tax on net profits for a period of three to eight years.

Exemption from charge of import duties on machinery may be granted by way of the BOI provided comparable machinery isn’t being produced locally.
If not fulfilling the above condition, BOI may additionally supply 50% reduction on equipment import duties instead.
BOI may offer reductions on import obligations of as much as 90% on imported raw substances which aren’t available locally.
Exemption from corporate income tax identical to the amount of investment no longer including the cost of land and operating capital for up to 8 years.
Exemption on a juristic personís income tax and dividends derived from promoted activities
50% discount of the juristic personís income tax
Double deductions from the price of transportation, energy and water supply
extra 25% deduction of value of set up or construction of facilities
Exemption of import duty on raw or critical materials for use in manufacturing for export
Non-Tax Incentives

On top of the tax incentives, the BOI offers non-tax incentives to a promoted organisation regardless of location which include:

Bringing in foreign nationals to engage in investment feasibility studies
Bringing in overseas technicians and specialists to work on promoted projects
proudly owning land to undertake the promoted activities
Remitting foreign currencies

Guarantees

The Board of Investment provides guarantees against:

Nationalization of the activity of the promoted person
Competition from state enterprise
State monopolization of products similar to products produced by the promoted project
Price controls on the products of the promoted activities
Tax exempt imports by state enterprises
Granting of permission to export at all times
Protection

Protection measures include:

Imposition of a surcharge on imports at a rate not more than 50% of the price of overseas insurance and freight charges for a period of not exceeding one year.
Import bans on competing products to provide additional protection for the promoted project or activity.
Authority of the BOI Chairman to order any action or tax relief sanctions to benefit the promoted projects especially in cases where problems or obstacles in the course of carrying out the promoted project are encountered.