Restrictions on American investment still exist. They include:
1. owning land;
2. engaging in the business of inland communications;
3. engaging in inland transportation and communication industries:
4. engaging in fiduciary functions;
5. engaging in banking involving depository functions;
6. engaging in domestic trade in indigenous agricultural products;
7. exploiting land or other natural resources
Some US businesses still choose to form joint ventures with Thai partners and allow them to hold the majority stake because of their familiarity with the Thai economy and local regulations.
To qualify for benefits under the Treaty of Amity, the steps outlined in the table below must be completed. Application for certification of a Treaty company is generally done in conjunction with or after establishment of a company (Contact the Commercial Service for information on registering a Thai Company).
Completion of the entire Treaty certification process typically takes about five weeks. It normally takes less than one week for certification from the U.S. Commercial Service office. The steps required for Commercial Service certification are attached.
It may be advisable to consult with a Thai legal or tax expert to be assured of successful registration.
U.S. Commercial Service
Diethelm Tower A, 3rd Floor, Suite 304
93/1 Wireless Road
Bangkok, 10330, Thailand
Tel : (662) 255-4365
Fax : (662) 255-2915
E-mail : firstname.lastname@example.org
Department of Commercial Registration
Ministry of Commerce
Maha Rat Road
Tel : (662) 222-9851, 222-9889
Fax : (662) 225-8493
Disclaimer : Although the information in this report has been obtained from sources believed to be reliable, we do not guarantee its accuracy and such information may be incomplete or condensed. Please seek professional advice for more specific information.
1. File documents
To begin the process, documents listed below must be filed with the U.S. Commercial Service (CS) Diethelm Tower on Wireless Road.
Blank application forms may be obtained from the Department of Registration in the Thai Ministry of Commerce.
Notarized copy of ownerï¿½s passport or birth certificate to prove U.S. citizenship. Notarization services can be obtained at the U.S. Embassyï¿½s American Citizen Services.
Partnership, Rep office, Branch office, Joint Venture, or Limited Company:
A. Articles of Incorporation
B. Bylaws of the Company
C. An affidavit of the Manager or Corporate Officer, stating the following:
D. Certificate of Good Standing
Same as above for both subsidiary and parent company
U.S. company acquiring Thai company
For an applying US company wishing to invest directly in a Thai company so as to obtain a majority of the Thai companyï¿½s shares, the applying company must show notarized proof that the majority of owners and directors of both the applying company and the company to be incorporated are (or will be) US citizens either by birth or naturalization.
2. Certification by the Commercial Service
Upon receipt of the preceding required documents the US&FCS office then will certify to the Thai Department of Commercial Registration in the Ministry of Commerce that the applying business organization is an American owned and managed company and is therefore entitled to national treatment under the provisions of the Treaty.
3. Application to Ministry of Commerce
After certification by the CS , original copies of all the above-mentioned required documents, along with a completed application form must be given to the Thai Department of Commercial Registration in the Ministry of Commerce in order to fully register under the Treaty.
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