{"id":768,"date":"2022-12-27T12:53:41","date_gmt":"2022-12-27T05:53:41","guid":{"rendered":"https:\/\/unionspace.co.th\/doing-business-living-bangkok\/?p=768"},"modified":"2022-12-27T12:55:47","modified_gmt":"2022-12-27T05:55:47","slug":"setting-up-a-us-amity-treaty-company-in-thailand","status":"publish","type":"post","link":"https:\/\/unionspace.co.th\/doing-business-living-bangkok\/setting-up-a-us-amity-treaty-company-in-thailand\/","title":{"rendered":"Setting up a US Amity Treaty Company in Thailand"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">A US Amity Treaty Company permits American citizens and companies to<br>hold majority shares (over 51%) in a Thai Limited Company. The US<br>Amity Treaty also enabled American companies to engage in business on<br>the same basis as Thai companies, and are exempt from most of the<br>restrictions of foreign investment imposed by the Alien Business Law<br>of 1972.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>What is the US-Thai Treaty of Amity?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The US-Thai Amity Treaty, also known as the Treaty of Amity and<br>Economic Relations between the Kingdom of Thailand and the United<br>States of America was signed on May 29, 1966 to give special rights<br>and benefits to American citizens who wish to establish their<br>businesses in Thailand.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Whilst a US Amity Treaty Company enjoyed significant advantage over<br>other foreign nationals or companies, US Amity Treaty Company are not<br>allowed to engage in the following activities which are reserved for<br>companies that are owned by majority Thai shareholders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8211; Communications<br>&#8211; Transportation;<br>&#8211; Fiduciary functions<br>&#8211; Banking involving depository functions;<br>&#8211; Land Ownership, Exploitation of land or<br>&#8211; Other natural resources; and<br>&#8211; Domestic trade in indigenous agricultural products.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Fundamental requirements of a US Amity Treaty Company<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8211; A minimum of 51% of shares must be held by American citizens or an<br>American sole proprietorship, partnership, representative office,<br>branch office, joint venture or limited company.<br>&#8211; A minimum of 50% of directors must be American citizen(s)<br>&#8211; The ultimate beneficiary of the company must be American<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Note:<br><\/strong>US Amity Treaty company is not exempted from the 4 Thais to 1 Foreign<br>worker (Work Permit) ruling. For a US Amity Treaty company to sponsor<br>a Non B Visa and a Work Permit, it must hire 4 Thais, pay for their<br>Social Security, must be VAT Registered and must have at least THB2<br>million Registered Capital. However, for those who already hold a<br>one-year extension based on marriage, you will only need 2 Thai<br>employees and the registered capital is only 1 million baht<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>US Amity Treaty Company application process<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Step 1<br><\/strong>Company Name Search and Reservation at Ministry of Commerce (DBD)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Step 2<br><\/strong>&#8211; Drafting of Memorandum of Association (MOA)<br>&#8211; Submission of MOA to Ministry of Commerce (DBD)<br>&#8211; Your Thai Limited Company is registered<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Step 3<br><\/strong>Obtain Treaty of Amity Certification Letter from the US Embassy<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Step 4<br><\/strong>Apply with the Bureau of Foreign Business Administration, Ministry of<br>Commerce to convert and update your Thai Limited Company to US Amity<br>Treaty Company<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>How long does it take to completely register a US Amity Treaty Company?<br><\/strong>The entire process takes approximately 6 to 8 weeks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>What are the required documents for certification and legalization at<br>U.S. Commercial Service?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If the majority shareholder is\/are U.S. citizen(s).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">1. Copy of passports of American major shareholders, notarized either<br>by U.S. Notary Public or U.S. Embassy\/Consulate in Thailand<br>2. Complete original set of your Thai Limited Company documents:-<br>&#8211; Certificate of Company Registration<br>&#8211; Company Objectives<br>&#8211; Memorandum of Association<br>&#8211; Articles of Association<br>&#8211; List of Shareholders<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If the majority shareholder of the US Amity Treaty company will be a<br>U.S Business entity, please contact us for more details.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>How much<br><\/strong>THB145,000 (USD4,200)<br>inclusive of all professional, legal, gov&#8217;t translation and other out<br>of pocket fees except the fee to Obtain Treaty of Amity Certification<br>Letter from the US Embassy which will be around USD200 to be paid to<br>the US Embassy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Questions? Talk to us today!<br><\/strong>Email: sales@unionspace.co.th<br>Line: @unionspaceth<br>Phone: <a href=\"tel:123+6620360600\">+662 036 0600<\/a><br>Website: <a href=\"https:\/\/unionspace.co.th\" target=\"_blank\" rel=\"noreferrer noopener\">www.unionspace.co.th<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A US Amity Treaty Company permits American citizens and companies tohold majority shares (over 51%) in a Thai Limited Company. The USAmity Treaty also enabled American companies to engage in business onthe same basis as Thai companies, and are exempt from most of therestrictions of foreign investment imposed by the Alien Business Lawof 1972. What&#8230;<\/p>\n","protected":false},"author":4,"featured_media":769,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,31],"tags":[173,9,15,174,175],"class_list":["post-768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-doing-business-in-thailand-foreigner-locals","category-thailand-law-and-tax","tag-amity","tag-company-incorporation","tag-doing-business-in-thailand","tag-treaty","tag-usa"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.9 - aioseo.com -->\n\t<meta name=\"description\" content=\"A US Amity Treaty Company permits American citizens and companies tohold majority shares (over 51%) in a Thai Limited Company. The USAmity Treaty also enabled American companies to engage in business onthe same basis as Thai companies, and are exempt from most of therestrictions of foreign investment imposed by the Alien Business Lawof 1972. 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