principal law applicable to foreign investment is BOI Law No.4
of 1978 and amendments introduced in 1980, 1983 and 1992 and Regulations
made under the Act. (See Appendix for details.)
BOI Act provides for two types of investment approvals:
o Under Section 17 of the Act, the BOI is empowered to grant special
concessions to companies satisfying specific eligibility criteria
which are designed to meet strategic economic objectives of the
government . The mechanism through which such concessions are
granted is the Agreement which modifies, exempts and waives identified
laws in keeping with the BOI Regulations. These laws include Inland
Revenue, Customs, Exchange Control and Import Control.
under Section 16 of the BOI Act permits foreign investment entry
to operate only under the 'normal laws' of the country; that is,
for such enterprises, the provisions of the Inland Revenue, Customs
and Exchange Control Laws shall apply.
For the purpose of granting approvals and incentives, companies
incorporated under the Companies Act are treated equally regardless
of whether the shareholding is controlled by nationals or non-nationals.
BOI provides advice and assistance at each stage of the investment
process and we can help you in the following ways:
arranging support services such as water, power, waste treatment
Making recommendations to Immigration Authorities for issuing
Facilitating import/export clearance and customs procedure for
import of capital goods, raw materials and the export of the final