'Amity' Question >>>> What if.....

[CosmicSurfer]

What if I started a Limited partnership, or Thai corporation, but later (after financials warrant it) I decide to Change the company to an 'Amity corp.' ???

I'm an American.... Can I just change the company registrations? Or must I dissolve the existing entities and reform the Company under Amity???

As part of this plan, in the Initial partnership agreements, there would be a Shotgun Agreement saying that my (nominee) Thai partners MUST sell their shares to me for ??100,000 baht ??? as compensation for their participation, never mind the 'book value' of the company????

Is this possible????

CS

[maisodni]

A company can always file a company registration change to modify shareholdings, and company may apply for Amity Treaty registration at any time that it becomes eligible to do so.

If you start as an LP without Amity Teaty. then you must be the minority (limited libaility) shareholder, without signature power. Only the manging partner (Thai majority shareholder, with unlimited personal liability) can have signature authority for the business.

I will not address the preliminary shareholder arrangement that you mention, because such arrangements are illegal, and such discussion violates the T&C of this forum.

For Amity Treaty - one thing to be wary of is that some legal services providers (including a major advertiser on this forum) incorrerctly advise that a business must have 3,000,000 baht registered capital to apply for Amity Treaty. This is flatly incorrect - the correct requirement is 2,000,000 baht registered capital - because an approved Amity Treaty company receives a Foreign Busines CERTIFICATE (2,000,000 baht to be eligible), not a Foreign Business LICENSE (which requires 3,000,000 baht to be eligible).

MS

[CosmicSurfer]

For Amity Treaty - one thing to be wary of is that some legal services providers (including a major advertiser on this forum) incorrerctly advise that a business must have 3,000,000 baht registered capital to apply for Amity Treaty. This is flatly incorrect - the correct requirement is 2,000,000 baht registered capital - because an approved Amity Treaty company receives a Foreign Busines CERTIFICATE (2,000,000 baht to be eligible), not a Foreign Business LICENSE (which requires 3,000,000 baht to be eligible).

Thanks for this great information...... I didn't know about the difference between a certificate and a license!!! Great to know.

Just so I can verify this to any "Legal service provider" and avoid arguments, can you point me to any link or Document to verify this information?

Mucho Thanks,

CS

[ksamuiguy]

I suggest you take a look at the below link. You can also contact the U.S. Embassy in Bangkok, American Services, They have been very helpful in the past.

http://mangounchained.com/2008/09/the-real-deal-on-the-us-thai-treaty-of-amity/

The treaty offers many advantages, but the Thai officials don't like it!

They will tell you the Wrong Government signed the Treaty. Just be aware that the Treaty is between "His Majesty The King Of Thailand and The President of The United States". Official translation are available in Thai and English. The translations are correct and certified in both languages.

[CosmicSurfer]

Thanks for the link!!!

CS

[gb33]

Cosmic surfer, I went through this myself and came out positive at the end. If you'd like some input please PM me. Happy to share.

Thanks

gb