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ResourcesCorporate and Tax AdvisoryUS Corporate LawWhen Will the US-Thai Treaty of Amity End?

When Will the US-Thai Treaty of Amity End?

Transcript of the above video:

As the title of this video suggests, we are discussing the US-Thai Treaty of Amity and economic relations. Basically, that Treaty has been around for some time; it has been around since the sixties. 

I occasionally get questions from clients and just from folks talking to me that know that I deal with things pertaining to the Treaty. They sometimes ask "When will it end?"  Well there is no "sunset clause" as we call it on the Treaty of Amity. There is no automatic end to the Treaty. There are terms in the Treaty which stipulate the means and methodology which would affect a termination of the Treaty.  There is a mechanism within the terms of the treaty itself which provide for how the treaty would and it has to be initiated by one or both of the parties and there is a protocol for ending it; it doesn't just end immediately. There is sort of a wind down period, if you will, but no there doesn't seem to be, at least at the time of this video, there doesn't seem to be any prospect that it will be coming to an end and it is my understanding that if it were, I think we would know how far in advance and those whom it would pertain to would be able to go ahead and reorganize and restructure their operation so as to comply with the law moving forward after an end to the Treaty. Exactly how things would operate after the termination of the Treaty, if it were to ever happen and my personal and professional opinion is I think that the odds of that occurring are stratospherically low.  I just don't think it is going to happen anytime in the foreseeable future. 

That being stated, were it to happen, "Yes, there would need to be a reorganization of corporate structures that are utilizing Amity Treaty certification."

The thing to take away from this video is, there is no automatic termination date. It does not just end. The Treaty exists until it doesn't. The parties involved have to undergo certain formalities in order to initiate a termination and there is a wind down period which will allow those who are operating under the Treaty to go ahead and basically no longer operate under that structure; restructure themselves in order to continue operations into the foreseeable future thereafter.

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