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US-Thai Amity Treaty Versus Foreign Business Certificates?
Transcript of the above video:
If you can't tell, while I am making this video the AC is actually out at the moment and this video is sort of in the last tranche of videos that we are making, so if I look a little sweaty please bear with me, I do apologize for my appearance but I just want to get the information out here and I can probably do that rather quickly.
So that said, I thought of making this video where we are comparing the difference between certificates under the BOI or possibly the Eastern Economic Corridor, so certificates, Foreign Business Certificates if you will, and we are comparing those to Amity Treaty Certificates that can grant Americans the right to do business here in Thailand through a Corporation garnering "National Treatment" pursuant to the Treaty. I've discussed that at length in many other videos. Suffice it to say, Americans in most business activities can come here to Thailand and own their businesses 100% in order to undertake those business activities.
That being said, I thought of making this video after reading a recent article from the Bangkok Post, bangkokpost.com, the article is titled: Foreign Investment surges in first two months. "Foreign investment in the first two months of this year saw a 68% increase in the number of projects and a 33% rise in the investment value compared to the same period last year. According to Deputy Government spokeswoman Sasikarn Watthanachan, the latest report on foreign business investment approvals under the Foreign Business Act (1999) reveals that 181 applications were approved in the last two months of this year - in the first two months of this year, I should say”. Quoting further: "marking a 68% increase compared to the same period last year. Of the total, 41 investment projects came through the Foreign Business License application channel..."
As discussed in other videos, that operates through the Foreign Business Act mechanism that was promulgated in 1999 as opposed to Board of Investment or EEC which, quoting further: "..with 140 from the Foreign Business Certification letter application." That's what comes from dealing with BOI. So, it's a Foreign Business Certificate that allows a foreigner to do business in Thailand or foreigners, foreign corporation, allowed to do business in Thailand under BOI as opposed to Amity Certification which grants "National Treatment" if the company is certified.
These are kind of semantic points, but they are not when you understand that it's a totally different process to obtain an Amity Treaty Certificate here in Thailand as opposed to a Foreign Business Certificate from the Board of Investment here in the Kingdom of Thailand.