IEAT is the Industrial Estate Authority of Thailand. The agencies was legislated to be the body that look after business incorporation within the authorized industrial estate. Business that incorporate within the IEAT designated zone are entitled to special incorporation rights that are higher than those register outside the zone. The major benefits of, such as, 100% shareholdership and 100% land ownership are the main advantages of such rights. GEMOPOLIS is one the fifty joint governmentprivate management industrial estates under the governorship of IEAT.
In Thailand, one of the most important legislated agency that report directly to the Prime Minister Office is the BOI, Board of Investment. The power of BOI is so broad, but concentrate mainly on manufacturing or industrial related activities. The main advantage is the tax heaven for the granted businesses for many years. Basically three Thai taxes will be waived: Import Duties of production machines and raw materials; VAT on Purchase of both imported raw materials and locally purchased raw materials; and annual Corporate Income Tax.
Freezone is the new legal logistic mechanism of many governments to tackle the complication of global trade. It is the tool to synchronize between government and private sector worldwide. A special Freezone law is granted for Freezone within IEAT which empower companies to simply register inside the Freezone and legally entitle to many privileges given by both IEAT and BOI. This new law is very flexible and suits the new global trade phenomenon.