The Step-By-Step Process to Set Up a Business in Thailand under Amity Treaty is as follows:
Step 1
Complete the application form in compliance with Thai Law and submit it along with the necessary documents.
Step 2
Upon receiving the application and documents, the CS office will hand over the certificate to the Thai Department of Commercial Registration, confirming the applicant owns an American-managed company, which is now entitled to national treatment under the Thailand Treaty of Amity.
Step 3
Original copies of the same documents stapled with the completed application must be submitted to the Department of Commercial Registration in Thailand.
Step 4
A summary of the business must be prepared and presented to the Director General.
Step 5
It is then the certificate will be issued. In case it is not approved, the applicant will be informed by a letter.
Requirements
- At least 51% of shares must be with the American citizens
- The majority of the Board of Directors must be American citizens
American citizens, investors, and companies can claim Amity Treaty benefits. Any American entity willing to apply for the Amity Treaty Certification must comply with the following:
- Register as an Alien Company
- Upon recognizing a foreign company, the government grants 100% ownership
- Apply for a Certificate at the US Embassy
- Apply to the Director of the Ministry of Commerce for Approval
- There are 3 conditions here;
- The US national shareholder must hold more than 50% shares
- No director from any third country
- In the case of a sole proprietorship, the director can be either a Thai national or a US national
Restrictions on American Companies under the US-Thai Treaty of Amity
- Publishing and media,
- Farming,
- Forestry,
- Fisheries,
- Thai herb,
- Selling ancient Thai heritage,
- Selling and owning land,
- Building/molding of Buddha’s statue,
- Activities related to national security (armory, transportation) and tourism business
However, there are certain more governing regulations for you to know before you set up a business in Thailand using the Amity treaty. To understand everything in detail and make the treaty favor your business in Thailand, email us at [email protected]. Our team of Thai corporate law experts will get back to you within one business day.
