Treaty Of Amity

[garyinthailand]

I'm a US citizen. I just found out about the Treaty of Amity, which allows US citizens to own 100% of a company in Thailand. I'm also aware that this treaty will be no longer in effect as of next year, when GATT/WTO rules supercede it.

Has anybody here registered a company under the TOA recently? Any hassles or issues because of the treaty's lame-duck status? I'm interested in getting in under the wire, as I expect existing registrations to be honored.

Any information or advice is greatly appreciated!

[xbusman]

The legal firm I use has done a few lately (I&B Immigration & Business Consultants LTD 138 Silom Road) and they mentioned that the paperwork is much more complicated and takes longer (read more expensive). If you interested in applying under the treaty, I recommend you contact Greg at Sunbelt Asia. Great service and great prices.

[Sunbelt Asia]

We are processing 3-5 Amity applications most weeks. No problem so far. We are telling our clients the cutoff date in your mind should be September if you are planning on applying.

www.sunbeltasia.com

[dfwbkk]

Does this at all apply to Scandinavians as well?

If so, what's the scoop?

/// DFW

[Sunbelt Asia]

Sorry, its for Americans only. The WTO at a meeting in Uruguay in 1995 said it was not fair to other Nationalities and gave the Thais and Americans 10 years to come up with a solution. It will be expiring at the end of the year. It could be replaced in a Free Trade Agreement between the States and Thailand but I wouldn't hold my breath.

www.sunbeltasia.com

[Papi]

I assume that companies set up like this will be grandfathered and allowed to continue with majority USA ownership.

Now, what about this situation: Lets have the local Thai company owned by a USA company which in turn is owned by USA citizens. This makes the whole amity application and approval possible. But what happens if later the USA shareholders sell their shares of the USA co. to foreigners? What happens then to the Thai subsidiary?

[Papi]

No reply to latest question? uummmm.

I guess nobody wants to say "Yes, it can be done" as that would obviously be a way to get around it for non-USA citizens.

Or maybe we just simply do not know.

[astral]

......US citizens to own 100% of a company in Thailand. I'm also aware that this treaty will be no longer in effect as of next year, when GATT/WTO rules supercede it.

Does this mean that WTO rule next year WILL allow foreigners to own 100 of a company?

My understanding is that this is possible today, but the same rules apply as with foregn nationals, the company cannot own property and is hampered in other ways!

[Sunbelt Asia]

"I assume that companies set up like this will be grandfathered and allowed to continue with majority USA ownership."

Correct.

Now, what about this situation: Lets have the local Thai company owned by a USA company which in turn is owned by USA citizens. This makes the whole amity application and approval possible. But what happens if later the USA shareholders sell their shares of the USA co. to foreigners? What happens then to the Thai subsidiary?

My understanding is that once the Amity has been approved, the shareholders can sell their shares to anybody and those shareholders of that company would maintain the Alien Business License.

www.sunbeltasia.com

[Jeff Jarvis]

I am in the procees of applying for protection under protection of the Amity Treaty. The ministry of Commerce has a guide that can help you get thru the process.

All it takes is a trip to the US Embassy to get a notorized copy of your passport, walk next door to Dilthem Tower US Commerce, and make a request to do business under the Foreign Business Act. Amity Treaty.

A week later the US Commerce section will present you with a letter to be taken to the Thai Ministry of Commerce. They will give you an application that is in Thai. Have a Thai friend help you complete it. They will want , copy of passport and visa stamps, house registration, map of appx location. They also want to know what type of business is intended. Several business are restricted, check the manual.

The super nice lady at Thai MOC even typed up my paperwork and gave me a Bangkok Post to read while I waited. The entire process is as simple as that.

Reading the first paragraph in the Treaty it says:

1. Nationals of either Party shall, subject to the laws relating to the entry and sojourn of aliens, be permitted to enter the territories of the other Party, to travel therein freely, and to reside at places of their choice and in particular to enter the territories of the other Party and to remain therein of the purpose of: (a) carrying on trade between the territories of the two Parties and engaging in related commercial activities; or ( developing and directing the operations of an enterprise in which they have invested or are actively in process of investing a substantial amount of capital. Each Party reserves the right to exclude, restrict the movement of, or expel aliens on grounds relating to public order, morals, health and safety.

What kind of VISA should I be looking at?

[Papi]

"What kind of VISA should I be looking at?"

Interesting question Jeff. Sadly, the guys that know do not like much reading new posts in old threads. It seems they only go for the new threads; perhaps thinking that whoever answer first will more likley get the party asking as a client.

I have also a question in regard to Amity. Can I, as USA resident (green card holder) apply for Amity here? Or it is only for USA citizens? I mean, what is the definition of a USA national? I would guess one that comes from that nation ..... but I am probably wrong for this purposes.

[Sunbelt Asia]

What kind of VISA should I be looking at?

The Visa has nothing to do with the Amity. If you are going to be working here, you can get a work permit on any type of non immigrant visa. Just not the tourist visa. Most people obtain a 'B" visa for business.

Note: The above is intended to provide general information only. The contents do not constitute legal advice and should not be relied upon as such. If legal advice or other expert assistance is required, the services of competent Thai professionals should be sought. Our firm employs eight such individuals. You're able if you like to meet a licensed lawyer employed by Sunbelt for your legal needs, the first meeting is always treated as a free consultation. www.sunbeltasia.com

[Sunbelt Asia]

have also a question in regard to Amity. Can I, as USA resident (green card holder) apply for Amity here?

No

Or it is only for USA citizens?

Yes

I mean, what is the definition of a USA national?

A USA passport holder

Note: The above is intended to provide general information only. The contents do not constitute legal advice and should not be relied upon as such. If legal advice or other expert assistance is required, the services of competent Thai professionals should be sought. Our firm employs eight such individuals. You're able if you like to meet a licensed lawyer employed by Sunbelt for your legal needs; the first meeting is always treated as a free consultation. www.sunbeltasia.com