Export-only company

[Somros]

I have read in the past (both on this forum and elsewhere) that when  a company engages in export-only activities (not invoicing anyone in Thailand, not making any sales in Thailand) then this kind of company can be registered with 100% foreign ownership.

 

Note I don't refer to the case of US-Thailand Treaty of Amity which is an unrelated provision. No Americans involved. I also don't refer to any kind of BOI sponsoring.

 

If this still holds then such a company will have 2 (or more) foreign shareholders.

 

Does this type of company still possible to incorporate today and does it matter if the export activities are only for goods or also for services.

 

I will greatly appreciate all informed replies.

[FritsSikkink]

No, where did you read this nonsense?

Link please.

Edited August 12, 2023 by FritsSikkink

[bbko]

11 hours ago, Somros said:

I have read in the past (both on this forum and elsewhere)

Link please.

[CharlieKo]

https://www.bangkokpractice.com/100-export-company-in-thailand/

 

[ezzra]

Asked and answered as the say in the legal profession.

[mark5335]

I did this 10 years ago so unsure whether it's still possible. My lawyer incorporated the company at the DBD as a Thai owned company and a month later changed the shareholders to 100% foreign. The was properly registered at the DBD and our annual audited filings were accepted at the DBD and the RD without problem. (I'm unsure what the penalty would have been is we had transacted any domestic sales.)

[Somros]

2 hours ago, mark5335 said:

I did this 10 years ago so unsure whether it's still possible. My lawyer incorporated the company at the DBD as a Thai owned company and a month later changed the shareholders to 100% foreign. The was properly registered at the DBD and our annual audited filings were accepted at the DBD and the RD without problem. (I'm unsure what the penalty would have been is we had transacted any domestic sales.)

Thanks. Mind telling what business did you engage in? Did you export goods or services?

[mark5335]

2 hours ago, Somros said:

Thanks. Mind telling what business did you engage in? Did you export goods or services?

It was mostly the export of animal feed products from Thailand to several markets in NE Asia.