Little Things That You Need to Know if Opening a Business in Thailand

Owning a Thai company lets a foreigner purchase a property, live and work in Thailand. And this is enough for a foreigner to decide to stay in Thailand. You be might be wondering what exactly the Thai government intent to do by letting a foreigner conduct a business here. Well, nothing unusual you see. The government wants the company to earn income while contributing to the economy. Likewise, it develops a good rapport amongst the countries. Again, the government’s interest is not you look out and in fact why should it be, after all, you need to earn a profit and stay in Thailand; that’s it. If you are a US citizen and willing to own a Thai company, you must be aware of a few little things.

Of course, you know about the Amity Treaty. It comes with so many advantages and the best of all is that you can hold the majority of the shares of the representative office in Thailand. While the Amity Treaty comes with so many benefits, there are some limitations too. The treaty prohibits an American investor from engaging in some activities including transportations, domestic trade, fiduciary functions, communications, banking that involves depository functions and much more. As far as exploitation of land or any other natural resource is concerned whether you are an American investor or not it should be avoided.

American can open a business in Thailand with 100% ownership by using Thai-US Amity Treaty. As soon as your company is registered, you must begin the process of obtaining business licenses to catch up with your business operations. Also, it is important for a new company to keep a track of the income and expenses. If you find it difficult to do, then you can always rely on a legal firm in Thailand.