Transcript of the above video:

As the title of this video suggests, we are asking what is the Foreign Business Act. We are specifically asking that question in the context of the US-Thai Treaty of Amity. I will get to the US-Thai Treaty of Amity in a moment but let's go ahead and ask what is the Foreign Business Act? 

I thought of making this video after reading a recent article in the Bangkok Post, that is bangkokpost.com, the article is titled: 'Gray' businesses facing crackdown. Quoting directly: "Thailand's Foreign Business Act currently limits Foreign shareholdings to 49% of a business, and includes three lists of work for which foreign participation may be prohibited or restricted.” Okay. So that's the Foreign Business Act. Thailand has a lot of protectionist measures including the Foreign Business Act itself which are designed to restrict certain activities, specifically business activities by foreign nationals and foreign businesses here in Thailand. 

So how does the US-Thai Treaty of Amity come into play? For those who are unaware, the Americans and the Thais have a bilateral Treaty betwixt one another, the US-Thai Treaty of Amity. This has been around, basically this Treaty relationship has existed for about 190 years now and Thailand and the United States remain strong allies but the terms of this Treaty supersede the Foreign Business Act so it is possible for an American business or an American looking to do business in Thailand to operate their business with 100% American control of the company, pursuant to the terms of the US-Thai Treaty of Amity notwithstanding the terms of the Foreign Business Act. So it's possible with a Certified Company under the Treaty to operate one's business 100% American owned. That is a possibility using the Treaty between the United States and Thailand. 

Now bear in mind, there are still restrictions under the Treaty. The Treaty is of an unfettered sort of carte blanche to do whatever one wants with respect to business in Thailand but I think it is safe to say that the Treaty is far less restrictive than the provisions of the Foreign Business Act itself.