Siam Legal International has released an updated compliance checklist designed specifically for American companies operating under the US Treaty of Amity in Thailand. The comprehensive checklist addresses increasing regulatory scrutiny on foreign-owned businesses and provides essential guidance for maintaining ongoing compliance after initial company registration.
The Bangkok-based law firm developed the checklist in response to observations that many Treaty of Amity companies focus primarily on initial registration requirements while overlooking critical post-incorporation compliance obligations. The updated resource aims to help American businesses remain fully compliant with Thai regulations and avoid potential regulatory issues that could jeopardize their operational status.
The 1966 Treaty of Amity between Thailand and the United States allows American investors to maintain majority or complete ownership of Thai companies in eligible sectors, providing national treatment in non-restricted areas. While these benefits offer significant advantages for American businesses, they come with strict and ongoing compliance requirements enforced by Thai authorities. Failure to maintain proper compliance can result in substantial penalties, licensing complications, or potential revocation of Treaty privileges.
The updated compliance checklist covers essential areas including corporate governance requirements, shareholder and director obligations, business licensing maintenance, tax filing deadlines, work permit compliance, and mandatory reporting obligations. Unlike standard setup guides, the checklist specifically focuses on ongoing compliance requirements that companies must maintain throughout their operational lifecycle in Thailand.
American companies operating under the Treaty of Amity may request access to Siam Legal International’s updated compliance checklist by contacting the firm directly. The checklist is available as part of Siam Legal International’s advisory resources for U.S.-owned businesses seeking to maintain ongoing regulatory compliance in Thailand and proactively address post-incorporation obligations.
The checklist reflects current regulatory expectations and addresses practical compliance issues observed during recent audits and inspections of Treaty of Amity companies. Key areas of focus include maintaining proper American ownership ratios, ensuring director qualifications meet Treaty requirements, and adhering to sector-specific operational restrictions.
"Many Treaty of Amity companies excel at the initial setup phase but struggle with ongoing compliance requirements that evolve over time," said Rex Baay, senior legal advisor at Siam Legal International. "Regular compliance reviews are essential because Thai authorities have increased their scrutiny of foreign-owned businesses, particularly regarding ownership structures and operational scope. Proactive compliance planning helps companies avoid disruptions that could impact their business operations and Treaty benefits."
Siam Legal International has advised American businesses operating in Thailand for over two decades, specializing in Treaty of Amity applications, compliance audits, and comprehensive legal support for foreign-owned companies. The firm serves as a full-service legal partner for US companies navigating Thailand's regulatory landscape, offering expertise across corporate law, immigration services, and business operations.
The release of the updated compliance checklist comes as bilateral trade between the United States and Thailand continues to exceed 50 billion USD annually. American companies operating under the Treaty of Amity contribute significantly to this trade relationship while benefiting from favorable ownership and operational conditions unavailable to other foreign investors.
Companies interested in reviewing their compliance status may contact Siam Legal International to request the updated Treaty of Amity compliance checklist and arrange a professional compliance review tailored to their business structure. The firm also offers comprehensive compliance reviews and legal consultations to help Treaty of Amity companies identify and address potential compliance gaps before they result in regulatory complications.
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Siam Legal International is a full-service law firm based in Bangkok, Thailand, specializing in foreign business establishment, Treaty of Amity certification, and comprehensive legal services for international companies. The firm provides expertise in business registration, immigration services, property transactions, and litigation support across multiple practice areas, with particular emphasis on supporting American businesses operating under the Treaty of Amity framework.
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For more information about Siam Legal International, contact the company here:
Siam Legal International
Rex Baay
+662 254 8900
info@siam-legal.com
18th Floor, Unit 1806 Two Pacific Place,
142 Sukhumvit Rd, Khlong Toei,
Bangkok 10110, Thailand