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Thai Amity Treaty Companies: To Certify Or Not To Certify?
Transcript of the above video:
As the title of this video suggests, we are discussing the US-Thai Treaty of Amity and companies looking to do business here in Thailand.
Some folks may be unaware that under the American Treaty, it may be possible for an American Company or American individuals looking to do business here in Thailand may be able to do business notwithstanding the Foreign Business Act which prohibits certain types of foreigners from doing business in Thailand in a company that is wholly foreign owned. The provisions of the Treaty of Amity may allow that same individual or individuals or Company to do business with 100% American ownership provided that they are certified under the Treaty because the terms of the Treaty provide "National Treatment" to Americans doing business in Thailand.
So the thing to take away from this video is yes, it may be possible to get that benefit but then the question is how do you do it? Well you have got to be certified. So the question is do I want to set up an Amity Company in the first place? Again, the reason for the title, the question posed is: "To Certify or not to Certify?" Do you want to get Amity Certification? Well the short answer is do you want 100% ownership of your Corporation? and if you are an American or an American Business and you want that, then yes, it is a good idea to go ahead and seek Amity certification because again, once certified that Company will be granted National Treatment, i.e. treated the same way as a Thai Company and therefore will not have to deal with the problems inherent in the Foreign Business Act for foreigners doing business in Thailand and thereby allow that American Company to go ahead and do business with 100% American ownership here in the Kingdom of Thailand.