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American can setting up company under Treaty of Amity

A company who wish to apply for registration under “Treaty of Amity” must comply with the following procedures:

STEP 1. Registration as an Alien Company
The Government officer recognizes a foreign company and permits the alien to have 100% ownership but not yet running business until finish STEP 3.

STEP 2. Application for Certificate at the US Embassy in Thailand

STEP 3. Application for Approval of the Director of the Ministry of Commerce.
There are 3 conditions that the company must complied with:
3.1 US citizen shareholder must hold shares more than 50% up to 100%
3.2 Strictly no director from third country (only Thai or US only)
3.3 For a single company director, it can be Thai nationality or US citizen but in case that there will be more than 2 directors, US directors must be more than Thai directors.

The above information states that the USA citizens can hold the 100% ownership of the company and also entitled to run business in Thailand.

Download : Treaty of Amity