Us Amity Treaty Companies

[Sunny Valentine]

I have two questions:

+ Do these companies have to have 100% US American sharholders, or 51%. Is it possible that other Nationalities or Thais own a minority in such a company?

+ Is it possible to change the status of a regular company to an Amity treaty one, by selling (see Q 1) either 100% or more than 50% to US citizens?

Sunny

[mouse]

Interesting question.......I suggest a visit or call to Sunbelt

[Sunbelt Asia]

+ Do these companies have to have 100% US American sharholders, or 51%. Is it possible that other Nationalities or Thais own a minority in such a company?

Only need 51% American. The other 49% can be any nationality. The same goes for the Directors.( except then the majority must be American or Thai.)

+ Is it possible to change the status of a regular company to an Amity treaty one, by selling (see Q 1) either 100% or more than 50% to US citizens?

yes

www.sunbeltasiagroup.com

[Sunny Valentine]

Thanks a lot!

I will discuss this with my new prospective partners and contact you then for further advice and a quote!

Sunny

[jas007]

Perhaps a dumb question, but can a US Amity treaty company own a house/land in Thailand? In other words, is there some sort of loophole for Americans?

J

[Misty]

My understanding is that companies that have approval under the Thai Amity treaty can't own land.

[Sunbelt Asia]

Perhaps a dumb question, but can a US Amity treaty company own a house/land in Thailand? In other words, is there some sort of loophole for Americans?

J

It cannot own the land. It could have a 30 year lease or in some cases, a 50 year commercial lease for the land. The company itself could own the structure on the land and have it registered at the Land Dept.

www.sunbeltasiagroup.com

[PeaceBlondie]

I just researched 'amity treaty' under this forum for a friend of mine. This thread is the most recent. She has these questions:

1. Can she, as an American citizen currently on an extended O retirement visa, form an Amity Treaty company?

2. Can she switch her O visa to a working O or a working B visa without leaving Thailand?

3. Can she own a sole proprietorship rather than a corporation?

4. Can she be the only working person in the sole proprietorship, or must she employ four Thais and pay taxes on their wages and her own net earnings?

5. Is any capital required such as millions of baht?

She will know who she is when she sees my post....shy little girl....

[Sunbelt Asia]

1. Can she, as an American citizen currently on an extended O retirement visa, form an Amity Treaty company?

yes. She does not even need a visa to form a company.

2. Can she switch her O visa to a working O or a working B visa without leaving Thailand?

Possible with a Corporation but with red tape.'The bottom line is it will only be good for 90 days then she will need to do border runs with a multi entry visa obtained from a Embassy/Consulate. Easier to just do that step from the first. ( The reason why is she will need to show an annual audit which won't happen till 2008 to get the extension of stay based on business)

It is not possible to change it to a Non B with a sole proprietorship

3. Can she own a sole proprietorship rather than a corporation?

yes

4. Can she be the only working person in the sole proprietorship, or must she employ four Thais and pay taxes on their wages and her own net earnings?

If she is married, she needs to employ two Thais. Its a sole proprietorship so no monthly salary is required for her. Not married, she will need to employ 4 Thais np matter if she paid 50K in tax last year.

5. Is any capital required such as millions of baht?

As of NOW, no.

www.sunbeltasiagroup.com