TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

NEWS ALERT Thailand Expands Hotel Foreign Ownership Incentives

Category: Hotels, Posted:25 Nov 2009 | 10:40 am

Good news for hotel grade investments as Thailand's BOI (Board of Investments) has expanded the incentives allowing 100% foreign ownership in a move aimed at spurring overseas investors. Previously the threshold for applicable projects was 100 rooms and over but the amended guideline ( BOI notification 10/2552) allows developments with an investment of over THB 500 million excluding land cost and working capital. This is good news for projects in Phang Nga where specific restrictions are in place limiting hotel development to 79 rooms within 300 meters of the ocean.
The basic tenant of the BOI program as it applies to District 2 (Phuket Province) allows for 100% foreign ownership including land, greater allowance for fast tracking of foreign work permits and remittance of currency abroad. The incentive applies to hotel only projects and not mixed use or residential developments. For Phang Nga and Krabi Province which fall into District 3, an additional incentive is in place with the ability to import machinery on a tax free basis from overseas.
For foreign investor's who are institutions the ability to obtain 100% foreign ownership allows them greater control of projects, the ability to leverage debt with foreign lenders and if there in the intention to exit the investment it makes the asset disposition proposal considerably more effective.

Other News

Read more

Koh Samui Gets New Daily Direct Flights From Singapore

Category: Tourism, Posted:14 May 2024 | 09:32 am In a major boost for Koh Samui tourism, Singapore’s Scoot Airlines has commenced daily flights. Currently, there is a daily flight, with a second flight expected to be added in June of this year. Scoot is a subsidiary of Singapore Airlines. The airline is using Embraer E190-E2 aircraft which accommodate 112 passengers on the route. […]
Read more

The C9 Sessions – Understanding Thailand’s Hotel License Regime and Procedures for Branded Residences, Condo Hotels, Mixed Use Projects and Vacation Rentals

Category: Hotels|Real estate, Posted:13 May 2024 | 16:39 pm Branded residences, condo hotels, mixed-use projects, and vacation home rentals are becoming a significant player in Thailand’s hospitality space. As property developers, real estate investors, and property buyers are learning, this is a complex space that requires well-structured projects. Join us for a unique 90-minute co-working lunch learning session about all the moving parts in […]
Read more

Phuket Hotels Association Charity Online Auction Now Open

Category: Hotels|Tourism, Posted:28 Apr 2024 | 09:14 am The Phuket Hotels Association’s absolutely fabulous charity travel sale is now open. This annual event continues to grow with amazing travel stays and other prizes not only in Phuket, but across the region and the world. New items are continuing to be added so check back often. All proceeds go to support over 20 full-time […]
SiaJai logo

Thailand's Leading Homecare Marketplace