If you are an American and willing to open a business in Thailand, you can secure 100% ownership in the company. Wondering how? Well, you might have heard about the Treaty of Amity. Anyways, if not then let me help you. In fact let me tell you that registering a company in Thailand under Amity will give you a lot of benefits. They are:
- 100% foreign-owned company;
- 100% shares in the company;
- Exempted from the majority of the restrictions on foreign investment implemented by the Alien Business Law;
- Eligible to own land in Thailand
So, if you have US nationality you should think nothing else than incorporating an Amity Treaty LLC. Therefore, to start gathering these documents today;
- Name of the designated company (3 proposed names);
- Address in Thailand to be the registered address (Head Office);
- Your business objective (in detail)
- Copy of passport (for the 3 the Promoters/Shareholders) – in addition, if the Authorized Director is a different individual from the shareholder, please provide a copy of his/her passport.
- Name of Authorized director(s), (in the case if you nominate more than 1 director, please specify the signatory condition)
- Certified copy of passport (by US Commercial)
However, as for the requisites in an Amity Treaty LLC minimum, 51% of the shares must be with the US nationals and the majority of the Board of Directors must be American citizens.
Although American entrepreneurs are given almost the same preference as Thais, yet, there are a few business activities that are restricted for any American Company under the US-Thai Treaty of Amity. This includes;
- Publishing and media,
- Farming,
- Forestry,
- Fisheries,
- Thai herb,
- Selling of ancient Thai heritage,
- Selling and owning land,
- Building/molding of Buddha’s statue,
- Activities related to national security (armory, transportation) and tourism business,
How long will it take to register for the Amity Treaty?
Well, it should not take more than five weeks, provided there’s no complication.
