Selling A Company With Amnity?

[mrt273nva]

Not that i'm selling my company, but I was thinking the other day that if i were to what would happen to the amity. I own 99.993% of my company so therefore would i be able to transfer that share to a foreigner of a different nationality other than American? Would they legally be able to fully own the company as I do or would they still need to bring in a Thai partner at 51% and take all the risks associated with that?

I'm curious becuase if I ever do sell the company, that would be a very strong selling point wouldn't it?

[mrt273nva]

i think i mis-spelled the title. Amnity - Amity ???

[A_Traveller]

My understanding is the Amity Company 'facility' is only available to US citizens, therefore you would be unable to sell the company to a non US citizen. Must say I don't know what the process is to de-amity a company, if you were to sell. At a guess the assets would have to be transferred to a new 'default' status company and the original one wound up.

Regards

[Chang_paarp]

I would be interested in a variation of this.

What % has to be US owned for the Amnity treaty to be accessable?

eg in the situation above if mrt273nva sold a large % of his shares down to 1% would the business still be elligable for exemption under the Amnity treaty?

Sunbelt? anyone with Amnity knowledge?

[A_Traveller]

The Treaty itself is silent on percentages, see attachment.

The Treaty permits American companies or individuals to maintain a majority shareholding or to wholly own its company, branch office or representative office located in Thailand. The resultant entity receives national treatment. That is, they may engage in business on the same basis as Thai companies, and it is exempt from most of the restrictions on foreign investment imposed by the Alien Business Laws. However as has often been noted the Treaty provisions are not in accordance with WTO requirements and the Treaty was due to expire some time ago but is still 'on the books'.

Regards

/edit format //

US_Amity.pdf

Edited April 9, 2007 by A_Traveller

[mrt273nva]

i have a friend from england that owns a resort. he developed the company with a thai partner then bought the partners shares out. is this legal r has he discovered a nice loop hole for many expat to secure their companies a bit better?