If you are a US Citizen, you can own a Thai company 100% under the US Treaty of Amity.
Working hand in hand with the US Commercial Department, Sunbelt will handle the complete application process for you. We are extremely experienced in setting up companies under the Amity Treaty. In fact, Sunbelt has performed more amity set-ups than all other firms in Thailand combined.
The Treaty of Amity and Economic Relations between the United States of America and the Kingdom of Thailand was signed on May 29, 1966. This treaty allows U.S. citizens and businesses to establish a company or branch office in Thailand . Under the treaty, is permitted to do almost anything a Thai company does.
The major benefits of the Treaty are that it allows American companies to own a majority of the shares of its company, have a office located in Thailand, and to receive national treatment. That is, they may engage in business on the same basis as Thais, and are exempted from most of the restrictions on foreign investment imposed by the Alien Business Decree of 1972. In return, Thais are extended reciprocal rights to invest in the U.S. , and Thai businesspersons are eligible to receive U.S. visas as “treaty traders” and “treaty investors”.
Under the Treaty, Thailand is permitted to apply the following restrictions to American and other foreign investment: owning land; engaging in the business of inland communications; inland transportation; fiduciary functions; banking involving depository functions; engaging in domestic trade in indigenous agricultural products; and exploiting land or other natural resources.
New changes in the law now allow for directors of Amity Treaty companies to work without work permits.
Under the Emergency Decree on Managing of Foreigners B.E. 2560, holders of Alien Business Licenses (which includes Amity companies or sole proprietorships) no longer need work permits as they are exempted due to holding an Alien Business License; we have verified this directly with the Department of Employment in the Ministry of Labour.
It is important to note that for those who want to obtain a one-year extension for a non-B visa then you will still need to meet the requirements of 4 Thai employees and pay into the social fund, register in the VAT system, and 2 million baht in registered capital and obtain a work permit. If you wish to go this route, please let us know as further information and services will be required.
However, for those who already hold a one-year extension based on marriage, investment, Elite visa, or are interested in obtaining a multiple entry non-B visa in the United States (which requires you to cross the border every 90 days), then you do not have the capitalization requirements or the requirement for 4 Thai employees. If you have sales of more than 1,800,000 baht a year then you will need to register in the VAT system, but if less than that then no registration is necessary.
Those who do not require a work permit will still be required to pay personal income tax; if a corporation then you are paid a salary and you pay personal income tax on that. If you have a Sole Proprietorship, then you pay a percentage of your income if you use the standard fixed deduction. If you use expenses with receipts, then it’s the personal income tax on your net profit.
Please note that as a director you cannot pay into the social fund.
Please allow at least four to five weeks to complete the entire process. It usually takes less than one week for certification from the Commercial Service office, but registration by the Thai government can take anywhere from a few weeks to a few months.
After meeting these conditions, next step is to process you through your application.
The very first step will be registering your business at the Ministry of Commerce. Our staff will be there to help with the form filling and providing required documents. It will take almost 1 week to get the documents. These verify that your company has been registered in accordance with the Thai law.
Our next step will be submitting the documents and letter confirming that most of the shareholders are American citizens. Then you will get a letter from the Commercial section at the US Embassy in Bangkok. It will take 1 to 2 days.
We will translate and submit the certification documents that are required to get the Alien Business License. The documents will be submitted to the Thai Department of Business Development of the Ministry of Commerce. This will get your business registered under the treaty hence completing the process. This procedure takes up to 4 weeks to be completed.
Please contact us for a free consultation with an English-speaking representative to determine the best options for you. We will get back to you as soon as possible.
Foreign Business License
US Treaty Of Amity
Thailand Work Permit
Closing a Thai Company
SUNBELT ASIA CO., LTD.
26th Floor, Fortune Town,
CP Tower 2,
1 Ratchadaphisek Rd.,
Din Daeng, Bangkok 10400
(Phra Ram 9 MRT Station, Exit 1)
Phone: +66 (0)2-642-0213-5
Fax: +66 (0)2-641-1995