Legal Services & Resources 

The US-Thai Amity Treaty does allow American nationals to own their businesses outright, but due to recent crackdowns on nominee companies, authorities are looking closely at Corporate Registered Capital.

There are legal avenues in Thailand which allow for a foreign national to own a business in Thailand such as under the Foreign Business Act or by obtaining a concession from the BOI, which is discretionary.

The strict crackdown on nominee businesses is being taken very seriously and as indicated in the media, even though each province handles things differently, the main focus is on the restricted occupations.

Thai Authorities are focusing on nominee corporate structures but another issue of concern could be that illicit companies could move capital through before taxes are filed thereby evading payment of taxes.

Oftentimes innocuous topics are used as a smoke screen to draw attention away from more important issues, for example the SWIFT System from which folks' attention was drawn by applying focus on Taylor Swift.

The OECD continues to try and influence Thailand which is a concern as it will create extra-territorial jurisdiction as evidenced by statements made recently during a forum on Thailand's future direction.

Crackdowns on nominee structures in Thailand are ongoing, mainly because not only is foreign ownership of land not permitted, but also because the 2% tax for property transfers is not being paid.

The US-Thai Treaty of Amity is a very favourable document for Americans who wish to do set up their own company in Thailand but even so, in the same vein as other countries, land ownership is not permitted.

There is more than one way to set up a business legally in Thailand and in fact, if one sets up a business through the BOI, in certain instances, that business is able to own the land for operational purposes.