American Owned (100%)business In Thailand

[selftaopath]

American 100% Owned business in Thailand:

I was told a special arrangement exists between America and Thailand. This agreement allows an American to own a business in Thailand totally i.e. 100%. Can anyone confirm this and I would love hearing the “pros and cons”? I am somewhat certain there must be cons.

If this topic exists elswhere please advise.

Thanks in advance for your input.

Keoki

[Indo-Siam]

The main "con" is that it takes about an extra 60,000-70,000 baht to set up - 25,000 of that amount being various government fees.

Cheers!

Steve Sykes

Managing Director

Indo-Siam Group

[stoneman]

American 100% Owned business in Thailand:

I was told a special arrangement exists between America and Thailand. This agreement allows an American to own a business in Thailand totally i.e. 100%. Can anyone confirm this and I would love hearing the “pros and cons”? I am somewhat certain there must be cons.

If this topic exists elswhere please advise.

Thanks in advance for your input.

Keoki

Have owned an Amity Treaty company for over 4 years and the only advantage is that you do not have any Thai partners/owners...But you definitely get a lot stricter supervision from the labor,tax/accounting and immigration departments...So if you are planning to start a "real" business and this business is in one of the sectors that foreigners are allowed to work in, then go ahead...I am sure if you run a search for Amity Treaty in Thaivisa you will find many threads...

[Sunbelt Asia]

American 100% Owned business in Thailand:

I was told a special arrangement exists between America and Thailand. This agreement allows an American to own a business in Thailand totally i.e. 100%. Can anyone confirm this and I would love hearing the “pros and cons”? I am somewhat certain there must be cons.

If this topic exists elswhere please advise.

Thanks in advance for your input.

Keoki

Pros:

Peace of mind being the major shareholder or owning the business 100% as a sole proprietor.

You are 100% legal

If they stop the Amity in the future for new applicants…. The odds are high your company will be worth more.

Cons:

You may need to show 3 million in paid up capital transferred into Thailand after August 2009 to get your work permit renewed. You will however be able to use these funds.

If you are a sole proprietor, you will need to hire 4 Thais to get a work permit.

You cannot own land.

If you decide you want to do this and are in a hurry to set one up, we have an Amity treaty Limited company for sale with a recent audit done. The investment is 100,000 Baht.

BKK13294GL-This Thai Limited Amity Treaty Company has 3,000,000 baht of capitalization; the audit for 2007 has been completed and the company is free of any outstanding liens. For an asking price of 100,000 baht, the company would give considerable benefits to the American majority buyer, especially as it can be 100 percent owned by foreigners. The Amity Company is registered to encompass the following objectives: consumer products retailing, consumer products wholesaling, advertising, hotel management, tour guide, food and beverage sales, IT development, business management consultant and internet café. The new owner would therefore be able to establish any new type of business with these objectives in Thailand under the full protection of the company format. Investors should be aware that the 3,000,000 baht registered capital will need to be paid up by showing money coming from overseas in the month of August 2009. The payment of shares, however, could then be borrowed as a Directors loan, if the Board of Directors would allow it (the buyer could be the sole director and hold 99.994% of the shares). This company has never traded, but is ready to commence operations from day one; there is no need to wait seven weeks to get registration approval or invest government and legal fees including the fees for the registered capital and company setup on the Thai side totaling around 120K as this already has been done.

If you are not in a hurry, we can help you set an Amity Treaty Company up. Our firm is known to be one of the largest volume firms handling this application process.

www.sunbeltasiagroup.com

[joskydive]

You have to declare your income in America and it is taxed in America.

[Jimjim]

You have to declare your income in America and it is taxed in America.

You mean you're taxed in Thailand and taxed in America thus being doubly taxed or they take into account double taxation?