Treaty of Amity
Outlining the exclusive nature of Thai American relations is the U.S. – Thai Treaty of Amity which grants special rights to American companies-businesses in Thailand and Thai companies-businesses in the U.S. likewise.
In honor of earlier versions of the last century plus, the most recent Amity treaty was signed on May 26, 1966 in Bangkok, giving American citizens the right to majority if not sole ownership of a company in Thailand, stipulating that Americans have right to at least 50 percent of its Thailand based company, compared to regulations that limit business owners of other non-Thai nationalities to a maximum of 49 %.
Specifically, the treaty exempts applicable American companies from most restrictions imposed on non-Thai companies and investors by the such Thai legislation as the Alien Business Law of 1972 and Foreign Business Act of 1999
Under the treaty, American companies are still restricted in the following categories:
- Commuications
- Transportation
- Fiduciary Functions
- Banking involving depository funcions
- Exploitation of Land & Natural Resources
- Land Ownership
- Domestic Trade in indigenous agriculural products
On the flipside, Thai companies wishing to conduct business in the U.S. hold special preferences during the application process, protected from discrimination by congress and respective regulative authorities.
For several years, the Treaty of Amity has been expected to be replaced by a newer Thai-US Free Trade Agreement, which has gotten as far as the negotiation tables several times, however, due to political unrest has made no certain progress.
See the links below for further information
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This is a brief overview of the treaty on Wikipedia
Here is a comprehnsive yet concise overview of the treaty including some procedural information, with direct channels to knowledgable lawyers.
Another comprehensive – reliable information – procedural page regarding the Treaty of Amisty.
The Treaty in full, by articles…