Foreign Ownership Of Company, America Special?

[thomasjojo]

is it so, that the Americans have special right in Thailand?

i.e. they can own the majority of Thai company etc?

[WarpSpeed]

Yes, if it is not a prohibited sector company, pretty easy criteria to meet in that regard, most protected sectors are not desirable anyway. Americans can have all the same privileges as any Thai under the Amity Treaty regulations.. However still can not own land..

Edited January 7, 2010 by WarpSpeed

[raro]

The Amity Treaty is AFAIK history as it violates WTO regulations. Same right for all foreigners =49%

[WarpSpeed]

Really?? I guess no one has informed the US government yet? Maybe you should do it eh? You seem to be more up to current affairs then they are..

http://www.buyusa.gov/thailand/en/treatyofamity.html

How do I register for the Treaty of Amity Benefits as an Amercian Company?

The Treaty of Amity and Economic Relations between the United States of America and the Kingdom of Thailand. The Treaty of Amity was signed on May 29, 1966 and secured two major trade advantages for the U.S.

1. The Treaty permits American companies to maintain a majority shareholding or to wholly own its company, branch office or representative office located in Thailand.

2. American companies receive national treatment, meaning U.S. firms may engage in business on the same basis as Thai companies, and are exempt from most of the restrictions on foreign investment imposed by the Alien Business Law of 1972.

Existing restrictions on American investment:

1. Owning land;

2. Engaging in the business of inland communication;

3. Engaging in inland transportation and communication industries;

4. Engaging in fiduciary functions;

5. Engaging in banking involving depository functions;

6. Engaging in domestic trade in indigenous agricultural products;

7. Exploiting land or other natural resources

Some U.S. businesses continue to pursue joint ventures with Thai partners and permit them to have a majority stake because of their familiarity with the Thai economy and local regulations.

Application Process

1. Register your business at the Ministry of Commerce

2. Obtain a "Certification document" at the U.S. Commercial Service, Bangkok

3. Submit "Certification document" and all required documents1 to the Ministry of Commerce

Note: Process takes about five weeks to complete

Contact Information

U.S. Commercial Service

American Embassy

GPF Witthayu Tower A,

3rd Floor, Suite 302

93/1 Wireless Road

Bangkok 10330

Thailand

Tel: (662) 205-5090

Fax: (662) 255-2915

Department of Business Development

Ministry of Commerce

44/100 Moo 1,

Nonthaburi 1 Rd (Sanam Binnam),

Bangkrasor, Muang

Nonthaburi 11000

Thailand

Tel: (662) 547-4458-9, 547-4462-4

Fax: (662) 547-4459, 547-4463

www.thairegistration.com

Edited January 7, 2010 by Lite Beer
E Mail Removed. Lite Beer

[avidflyer]

Not only that, but Americans can register with the Ministry of Commerce as a Sole Propriatership (self employed). When the Thai/USA FTA goes into effect this will likely change.

[ericthai]

I believe you are wrong, otherwise my lawyer is wrong and my company is illegal as I (being a US citizen) own 70% of my company, my partners from Australia and Finland own the remaining 30%

[WarpSpeed]

^ Who is wrong?? I'm assuming based on your response you don't mean us and you are confirming the previous 2 posts one of which is mine..

Not only that, but Americans can register with the Ministry of Commerce as a Sole Propriatership (self employed). When the Thai/USA FTA goes into effect this will likely change.

Yes this was also part of the inference but I wouldn't be too concerned about that FTA going through anytime soon, it's kind of like that new star they discovered on the edge of the galaxy they predict will go super nova soon..............

In about another hundred million or so years....... :D Given the uncertain political circumstances some stability is going to have to be demonstrated before it happens...

Edited January 7, 2010 by WarpSpeed

[Yamantaka]

I believe you are wrong, otherwise my lawyer is wrong and my company is illegal as I (being a US citizen) own 70% of my company, my partners from Australia and Finland own the remaining 30%

Mine too! I own 100% of my company and have for the past five years.

[WarpSpeed]

^ I guess that seals it then 4 opinions to 1, it's still valid and applicable..