Guest Posted May 24, 2002 Report Share Posted May 24, 2002 Being an American is very good in the case of Thai business. You register under the Amity treaty and you will own your business 100% if you so desire. It must be in fact be owned 51% by Americans, 4 out of the 7 shareholders American and at leat 50% of the Directors are American. Once you set up your company and you have recieved the Amity certificate, you apply as a managing director for your work permit. You are in Thailand to manage and direct your investment in Thailand. The lawyer will put 40 or so different things for your job discription and cover you every way. You will never be called a tourist guide but who cares. Please feel free to e-mail me for more advice. Link to comment Share on other sites More sharing options...
Guest Posted May 24, 2002 Report Share Posted May 24, 2002 WHAT???? I thought you could not own a business in Thailand without a 51% ownership by a Thai partner? Is this not true? Link to comment Share on other sites More sharing options...
ThaiHome Posted May 24, 2002 Report Share Posted May 24, 2002 American companies can be registered, as stated above, 100% American owned. Still must employ like 5 or something Thais. Neat, huh. TH Link to comment Share on other sites More sharing options...
gummigut Posted May 24, 2002 Report Share Posted May 24, 2002 Wow, cool information. I only peripherally investigated the option of opening a Company under the Treaty of Amity. Didn't know about the shareholder and director requirement. I am curious though about the shareholder requirement as to me it doesn't make sense especially if the other six shareholders are Thai, but then again, there is so much that doesn't make sense over here, lol. Any nationality can own 100% of their own company if they can get it approved by the BOI ("Board of Investment"). Manufacturing concerns seem to have the easiest time to get approved. Additionally the BOI bypasses things like Work Permit ratios and capital requirements but then you need to justify it to the BOI. As for employing Thais in a Company established under the Amity Treaty... Actually, I wonder if there is a requirement for employees. Course, if you want a work permit, you still need to follow the Thai law and have four Thais per foreign work permit and 2 million of capitalization per work permit (translated to mean liquidity if they want to get ugly). But technically you can own the company and only have 2 Thai workers. Just can't do any work I know I know, no one loves a smart ass <<burp>> Link to comment Share on other sites More sharing options...
Guest Posted May 24, 2002 Report Share Posted May 24, 2002 Oh my God...welcome the newest expat to LOS........ Link to comment Share on other sites More sharing options...
Guest Posted May 24, 2002 Report Share Posted May 24, 2002 Requirement for employees under Amity is none. Requirement for employees with a work permit is 4 Thais for a Farang on the " B" visa For the 1 year residence visa its 7 Thais for 1 Farang The E-2 investor visa is the Thais equivalent to owning a business in the United States under Amity. The investment must be substantial but its normally 3 billion baht. With a service business a Thai can perhaps be accepted in with 2 billion baht if they meet the other requirements. A Business Immmigration lawyer will be specializing in E-2 Investor Visas to the states in my business June 3rd, so am well versed on this subject. I can probably write a book on this now. Any help you may need, please e-mail. Link to comment Share on other sites More sharing options...
Guest Posted May 25, 2002 Report Share Posted May 25, 2002 Post deleted by DoxyBlue Link to comment Share on other sites More sharing options...
Guest Posted May 25, 2002 Report Share Posted May 25, 2002 To apply for Amity, you do not have to have any employee?s requirement. HOWEVER, if you want to work in that company, even though it is registered under Amity then the ?O" or "B" visa would be required to apply for the work permit. Example? American Appraisal (the oldest Appraisal Company in Thailand since 1974) is registered under Amity and is 100% owned by Americans. They have 57 employees and no foreigners work in Thailand. If one of the American shareholders wanted to work in Thailand they could, but would need to apply for a work permit and have a visa. Sitting in their office in Wisconsin, they do not need a visa and could even downsize to one employee. Link to comment Share on other sites More sharing options...
Guest Posted May 25, 2002 Report Share Posted May 25, 2002 I'm a couple of years away from having the money to try this but what do I have to do to make this work? I want to be able to help other english speaking foreigners to negotiate prices, not waist time, and basically have the best vacation possible. But make a living at it. Link to comment Share on other sites More sharing options...
Guest Posted May 26, 2002 Report Share Posted May 26, 2002 Under amity your registered capital is 3 million baht instead of 2 million for just a work permit. Some people put up 25% initially than by the end of your fiscal year end, they put up the 75% balance, as thats the time their is a audit. Others pay up the registered capital and some on a budget will than immediatly take a personal loan out for say 2 million baht to themselves. Esentially they than have 1 million in liquid capital in the corporation at that point. At the year end they have registered cap of 3 million with 2 million being a loan. Good luck in your saving habits for your dream. Link to comment Share on other sites More sharing options...
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