Legal Services & Resources 

As a means to dissuade people from using nominees to set up businesses in Thailand, which is illegal, authorities are making the business registration more complicated which could put off foreign investment in Thailand.

Companies that operate under the Board of Investment are given certain concessions including ownership of land but only for the purposes of use related to the business, not for personal use.

Foreigners who wish to do business in Thailand must comply with the Foreign Business Act whereas Americans are able to utilize the Amity Treaty allowing them to own their businesses 100%.

The issue of OECD has come to the foreground again in Thailand whereby it appears that Thailand is planning to implement more tax measures to align with OECD standards, which does not bode well for Thailand.

The Trump Administration is looking at tariffs and Trade Taxes which hopefully, considering the long standing Treaty relationship between the US and Thailand, Thailand will not be overly impacted by fixed reciprocal taxes.

Although the three main objectives discussed between Thai officials and the US Chamber of Commerce were a net good for the mutual relationship, the issue of Reciprocal Trade Tax will not benefit the US or the US consumer.

China, which is a rapidly expanding economy, will now expand its computer and electricity technology to the Eastern Economic Corridor in Thailand via a partnership deal with Thailand.

Reports have been circulating that the Thai Government was planning to increase VAT from 7 to 10 %, which has now been denied, even though at first, VAT was set as 10% and then temporarily reduced to 7%.

Crackdowns regarding use of nominees to set up businesses in Thailand can usually be avoided by Americans if they avail themselves of the US-Thai Treaty of Amity which allows Americans to own their businesses outright.

Corporations are being more scrutinized to ensure that nominees are not being used whereby shareholders need to show they are financially able to justify their investment and also there is actual business activity occuring.