Amity Company (first hand experiences)

[bangkokgalaxy]

I have not found much commentary (in this forum, or elsewhere) from American entrepreneurs who have set up Amity Treaty companies.

Interested in learning about startup experiences, such as working with legal firms, and clarification on the requirements for documentation

for 2 million in minimum capital (which I've heard can we avoided until 2024 or beyond)

 

Once established, what has been your experience in maintaining your Amity Company status (e.g accounting and reporting, hiring employees,

working with CPAs, etc)

 

Thank you in advance.

[tjo o tjim]

I went through about 80% of the legwork to do it and gave up; it would cost me too much money every year to maintain compared to the revenue and benefits it would offer.  By my estimates at the time I would need about US$200k in revenue per year to break even at 30% gross margins; there were other solutions for my needs that didn't have that premium.

 

But, for a real long-term business that needs employees anyway to operate it is likely a different story.  Not sure how practical it is, but I would try to set up a holding company rather than an operating company as the Amity entity, so if your businesses change it is easier to maintain the same (expensive) company.