US Treaty of Amity Thailand:
100% Ownership for Americans
Since 1968, the US-Thailand Treaty of Amity has let American citizens and US-majority companies own and control a Thai business outright, bypassing the Foreign Business Act's 49% ownership cap. Here is exactly what it grants, what it doesn't, and how to qualify.
What the Treaty of Amity grants
Amity status gives qualifying US persons and companies 'national treatment' — the same rights as a Thai-majority business — in most sectors.
100% American ownership
No requirement for a Thai majority shareholder, unlike a standard Thai Limited Company.
Majority board control
American directors can hold majority board seats and full management authority.
National treatment
Amity companies are treated the same as Thai companies for most business activities, avoiding Foreign Business Act restrictions.
Full repatriation of profits
Protection against expropriation and the right to repatriate profits and capital out of Thailand.
Access to most sectors
Amity companies can operate in trading, services, and most commercial activities without a Foreign Business License.
What the treaty does not cover
A handful of sectors remain restricted for national security or resource-protection reasons, regardless of Amity status.
- Land ownership (Amity companies still cannot own land directly, similar to other foreign entities)
- Communications, transportation, and fiduciary services
- Banking involving depository functions
- Domestic trade in agricultural products
- Exploitation of land or natural resources, including mining
- Certain professional services reserved for Thai nationals (e.g. law practice)
Who qualifies for Amity treaty benefits
| Nationality | The individual must be a US citizen, or the company must be majority-owned (over 50%) by US citizens. |
| Incorporation | The company can be incorporated in the US or in Thailand, as long as US ownership and control thresholds are met. |
| Registration | Amity status must be certified by the US Commercial Service and registered with Thailand's Department of Business Development. |
| Excluded activities | The company's activities must fall outside the restricted list above. |
Amity vs BOI promotion
Both routes unlock 100% foreign ownership, but they serve different nationalities and business types.
| Criterion | US Treaty of Amity | BOI Promotion |
|---|---|---|
| Eligible nationality | US citizens / US-majority companies only | Any nationality, activity-dependent |
| Eligible activities | Most sectors except the restricted list | Targeted promoted industries (tech, manufacturing, BCG, etc.) |
| Tax incentives | None — standard 20% corporate income tax applies | Up to 13 years corporate income tax exemption |
| Setup time | 6–8 weeks | 3–6 months (activity approval + registration) |
| Land ownership | Not permitted | Possible for certain promoted industrial estate activities |
| Work permit support | Standard Non-B work permit process | Streamlined via the One-Start One-Stop Center |
Setting up an Amity company
- 1
Verify that US citizens hold more than 50% of shares and voting control.
- 2
Obtain the Certificate of Identity confirming US ownership from the US Embassy's Commercial Service in Bangkok.
- 3
Incorporate a Thai Limited Company with the DBD, structured to reflect the Amity ownership.
- 4
Submit the DBD application for Amity Treaty protection alongside company registration documents.
- 5
Register for a corporate tax ID, VAT if applicable, and work permits for American directors.
Questions
Before you apply
Can any American start a business in Thailand under the Treaty of Amity?
Only US citizens or companies where US citizens hold more than 50% of shares and voting control qualify. The company itself can be incorporated in the US or Thailand, but ownership and management control must remain majority American.
What businesses are excluded from Treaty of Amity protection?
Land ownership, communications, transportation, fiduciary and banking services, domestic agricultural trade, and natural resource exploitation remain restricted even for Amity companies. Most trading, services, and manufacturing activities are covered.
Does the Treaty of Amity give tax benefits like BOI promotion?
No. Amity status only removes the foreign ownership restriction — it does not provide corporate income tax exemptions or import duty benefits. Standard 20% corporate income tax applies. BOI promotion is the route for tax incentives.
Can an Amity company own land in Thailand?
No. Amity treaty protection does not extend to land ownership. Amity companies must lease land or property like other foreign-owned entities, typically through long-term leasehold agreements.
Should I choose Amity treaty status or BOI promotion?
Choose Amity if you are a US national or US-majority company in a non-restricted sector and want fast setup without a Thai partner. Choose BOI if your activity qualifies for promotion and you want tax holidays, regardless of nationality — or combine strategies if your business could benefit from both over time.