Amity Treaty: Managing Director

[welovesundaysatspace]

An American company opens a branch in Thailand under the Amity Treaty. There are already two American directors who both sit in the US. Now they want to appoint a Managing Director who is foreigner but not American.

Is that possible? I hears contradicting things:

- our company lawyer from a top international law firm said that it's only possible if also a Thai person is registered as director who co-signs everything

- on the Siam Legal website it is only said that 50% of the directors have to be American (which would be the case here: 2 US, 1 non-US foreigner)

What's correct?

[Sunbelt Asia]

The Board of Directors of an Amity Treaty company must have a majority of American or Thai citizens on the board. If there is a director who is neither American nor Thai than a Thai or American director must co-sign on all documents.

[sunbelt][/sunbelt]