Legal Question?

[Name Taken]

I am a US citizen and i would to have some information about the US - Thai Treaty of Amity. I have heard that the US - Thai Treaty of Amity allows US citizens to set up a company/business without the 4 Thai employees requirement.
Is anyone familiar with the US - Thai Treaty of Amity? Does anyone know of a lawyer that is familiar with the US - Thai Treaty of Amity?

Thanks for any Information

[Super Joe]

I believe:
You still need the 4 employees if setting up a Limited Company.
Do not need the 4 employees if setting up a Limited Partnership.

As under Amity Americans can be all the shareholders, or the other partner in a Limited partnership, then Limited Partnerships are not risky in respect of a Thai having control as they are for other nationalities.

Amity companies:
Still need a WP.
Most of the FBA does not apply to you.
Can not own land if Americans are holding majority shareholding.

Cheers,
SJ

[Super Joe]

PS:
Just read on one lawyers website that it may only be 2 employees if married to a Thai.

But also that to get a WP the labour department actually check your company bank account that you have the 2 or 3M Baht registeted capital, transferred from overseas, in it. That do not do that check for regular Limited Companies.
You can the take that money out and use it for business (or send back home!?).

SJ

[hhfarang]

SJ and Name Taken,

An American friend of mine owns a business using this treaty. I don't know the details about the rules but he told me that the treaty has expired (as in no new applicants allowed) but that any business opened under the treaty or land purchased under the treaty is still subject to the treaty and can be transferred (sold effectively) to another American.

My friend paid 100,000 Thai baht for his business license under the treaty to purchase it from another American that was leaving Thailand. He is now running the business in Thailand and I don't believe he has any Thai partner(s). He is married to a Thai though.

[Name Taken]

SJ and Name Taken,

An American friend of mine owns a business using this treaty. I don't know the details about the rules but he told me that the treaty has expired (as in no new applicants allowed) but that any business opened under the treaty or land purchased under the treaty is still subject to the treaty and can be transferred (sold effectively) to another American.

I have not seen any official facts or evidence that the US - Thai Treaty of Amity has expired, so i think it's just rumors.

[Name Taken]

I believe:
You still need the 4 employees if setting up a Limited Company.
Do not need the 4 employees if setting up a Limited Partnership.

As under Amity Americans can be all the shareholders, or the other partner in a Limited partnership, then Limited Partnerships are not risky in respect of a Thai having control as they are for other nationalities.

Amity companies:
Still need a WP.
Most of the FBA does not apply to you.
Can not own land if Americans are holding majority shareholding.

Cheers,
SJ

So what you are saying is that in a Limited Partnership the American citizen is allowed to have a majority control under the US - Thai Treaty of Amity, right?

What is the FBA?

[Super Joe]

The treaty does keep expiring then being extended. They reckon it will eventually be stopped, with everyone 'grandfathered' in, as it is putting Thailand in conflict with the WTO policy it has signed up to.

HHF, I think the land would have been purchased a long time ago if majority shares are American held. They stopped it at some point way back I think.

Name Taken, Americans can own all the shares 100% in a Limited Company. With the Limited Partnership (two people for example) which usually has a Thai with the casting vote, can be two Americans, you with the vast majority vote/say, or however they function.

FBA = Foreign Business Act, not being restricted under that is one of the main plusses to Amity, that and 100% share ownership.

SJ

[Name Taken]

Alright, thanks for the info SJ.