Comments on: Treaty of Amity Info http://www.2thebigmango.com/u-of-mango/2007/05/24/treaty-of-amity-info/ Insiders take on Thailand Fri, 09 Jan 2009 09:59:53 +0000 http://wordpress.org/?v=2.6.5 By: The new way forward… at The FARANG Speaks 2 Much http://www.2thebigmango.com/u-of-mango/2007/05/24/treaty-of-amity-info/#comment-99955 The new way forward… at The FARANG Speaks 2 Much Wed, 21 May 2008 13:52:54 +0000 http://www.2thebigmango.com/2007/05/24/treaty-of-amity-info/#comment-99955 [...] at least registering a company we could use to start or buy whatever we decided to do. We formed an Amity company and started looking around for possible franchises, businesses and so on. During this [...] [...] at least registering a company we could use to start or buy whatever we decided to do. We formed an Amity company and started looking around for possible franchises, businesses and so on. During this [...]
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]]> By: smitty http://www.2thebigmango.com/u-of-mango/2007/05/24/treaty-of-amity-info/#comment-6412 smitty Wed, 30 May 2007 07:56:57 +0000 http://www.2thebigmango.com/2007/05/24/treaty-of-amity-info/#comment-6412 WW - great points but I think the negatives u mentioned are the same for other foreign established companies as well. Most of the restrictions u list are the same if u did a 49-51 company unless your Thai partners were actual active Thai partners who could justify being in those businesses. Meaning - if you were DHL and u were a joint company u can get into shipping but if you are Joe from the UK with your Thai bargirl sham company you would still not get into shipping as a business in Thailand. They would most liekely never approve it in your core charter. Other than the land deals - I get your point but all the land deals that were done without the proper Thai partners have also come undone. I guess what I am trying to say unless you are a big corporate entity with true Thai partners then the Amity works for most things. They may unravel it but then I have heard the US would put pressure to unravel the bennies they have given the Thais in the US under Amity. For sure at one point they will quite giving out Amity corps but most people do not think they will require existing Amity corps to change given the boats it will rock. But - hell - this is Thailand so who knows. I think for a small to medium size business Amity is not to bad of an option for those people it is available to. What I am amazed is how hard it is to get solid answers on alot of this. WW - great points but I think the negatives u mentioned are the same for other foreign established companies as well. Most of the restrictions u list are the same if u did a 49-51 company unless your Thai partners were actual active Thai partners who could justify being in those businesses.

Meaning - if you were DHL and u were a joint company u can get into shipping but if you are Joe from the UK with your Thai bargirl sham company you would still not get into shipping as a business in Thailand. They would most liekely never approve it in your core charter.

Other than the land deals - I get your point but all the land deals that were done without the proper Thai partners have also come undone. I guess what I am trying to say unless you are a big corporate entity with true Thai partners then the Amity works for most things.

They may unravel it but then I have heard the US would put pressure to unravel the bennies they have given the Thais in the US under Amity. For sure at one point they will quite giving out Amity corps but most people do not think they will require existing Amity corps to change given the boats it will rock.

But - hell - this is Thailand so who knows. I think for a small to medium size business Amity is not to bad of an option for those people it is available to.

What I am amazed is how hard it is to get solid answers on alot of this.
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]]> By: Wolf http://www.2thebigmango.com/u-of-mango/2007/05/24/treaty-of-amity-info/#comment-5858 Wolf Fri, 25 May 2007 08:27:05 +0000 http://www.2thebigmango.com/2007/05/24/treaty-of-amity-info/#comment-5858 While the Treaty of Amity does provide advantages to US citizens wishing to establish a business in Thailand – there are also many restrictions and the future of these companies is in doubt, as it is likely a violation of WTO rules. The major benefit is obvious, 100% ownership of your company. But there are important limitations... Without getting into too much detail…Under the Treaty, there are many classes of business barred to US citizens. These include: 1. Transportation, 2. Communications, 3. Fiduciary Function companies 4. Depository banking 5. Trade in local agricultural products 6. Liberal professions 7. Businesses exploiting land or natural resources. Even under a Treaty Company (which is expensive to establish), owners still need a work permit and visa (the treaty does not guarantee you the right to reside in Thailand). Under the treaty, US businesses are supposed to be treated the same as Thai business operating in Thailand – yet the reality is far removed from the treaty language. The Treaty is actually a far better deal for Thai companies operating in the US (which has a transparent legal and regulatory system) than for US businesses in Thailand. Finally, there is no guarantee that Treaty Companies will be “grandfathered” in once the Treaty expires. While the Treaty of Amity does provide advantages to US citizens wishing to establish a business in Thailand – there are also many restrictions and the future of these companies is in doubt, as it is likely a violation of WTO rules. The major benefit is obvious, 100% ownership of your company. But there are important limitations…

Without getting into too much detail…Under the Treaty, there are many classes of business barred to US citizens. These include: 1. Transportation, 2. Communications, 3. Fiduciary Function companies 4. Depository banking 5. Trade in local agricultural products 6. Liberal professions 7. Businesses exploiting land or natural resources. Even under a Treaty Company (which is expensive to establish), owners still need a work permit and visa (the treaty does not guarantee you the right to reside in Thailand).

Under the treaty, US businesses are supposed to be treated the same as Thai business operating in Thailand – yet the reality is far removed from the treaty language.

The Treaty is actually a far better deal for Thai companies operating in the US (which has a transparent legal and regulatory system) than for US businesses in Thailand. Finally, there is no guarantee that Treaty Companies will be “grandfathered” in once the Treaty expires.
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]]> By: kallah http://www.2thebigmango.com/u-of-mango/2007/05/24/treaty-of-amity-info/#comment-5856 kallah Fri, 25 May 2007 08:01:57 +0000 http://www.2thebigmango.com/2007/05/24/treaty-of-amity-info/#comment-5856 really? But isn't Singapore primarily Chinese? are the Thai Chinese somehow different from the ones in Singapore? really? But isn’t Singapore primarily Chinese? are the Thai Chinese somehow different from the ones in Singapore?
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]]> By: obi wan http://www.2thebigmango.com/u-of-mango/2007/05/24/treaty-of-amity-info/#comment-5850 obi wan Fri, 25 May 2007 06:18:40 +0000 http://www.2thebigmango.com/2007/05/24/treaty-of-amity-info/#comment-5850 From what you say here it appears that this treaty has benefited US as Thai investors as well as Thailand's and the US' economy, a symbiotic relationship. So why do the authorities not see this and open up their economy to foreign investment in land, banking etc. I'm sure that Thailand would be on par with Singapore in just a few years. Why don't they do this? Simple? Because the CHINESE thais don't want it to happen! From what you say here it appears that this treaty has benefited US as Thai investors as well as Thailand’s and the US’ economy, a symbiotic relationship.
So why do the authorities not see this and open up their economy to foreign investment in land, banking etc. I’m sure that Thailand would be on par with Singapore in just a few years.
Why don’t they do this? Simple?
Because the CHINESE thais don’t want it to happen!
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