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On 25 November 2024, the Board of Investment (“BOI”) issued Announcement No. Por 10/2024, implementing stricter guidelines for its e-Investment Promotion system. This new BOI regulation, effective from 1 December 2024, aims to streamline the application process and ensure the accuracy of submitted information.

Key matters:

1.     Stricter Application Verification

  • Initial Verification: The BOI will strictly verify the completeness of both applications and supporting documentation before accepting the application.
  • Limited Available Amendment: If an application is incomplete, applicants will only have one opportunity to amend the application within 30 days.
  • Denial and Record Deletion: Failure to amend or incorrect amendments may result in denying and disposing of all related applications.

2.     Unchanged Extension Limits

  • Promotion Acceptance: Applicants can still request the extension up to three times, with the duration of each extension not exceeding one month.
  • Investment Promotion Certificate Issuance: Applicants can still request the extension up to three times, with the duration not exceeding four months.

Please note that an application can still be re-submitted even if it is denied. However, re-application, along with the stricter verification procedures, may lead to potential delays in the overall application process. Applicants should factor in additional time for their investment promotion application plans.For more detailed information, please refer to the BOI Announcement regarding the Procedures for the e-Investment Promotion Systems. Click here