Who can benefit from the Thai-Australian Treaty?
This is only available to valid Australian passport holders.
What are the Benefits of the Thai-Australian Treaty?
The main benefit of the Australian Treaty is to act as an override in relation to the Thailand Foreign Business Act. This provides Australian nationals with almost the same rights as Thai nationals with regards to owning and operating businesses in Thailand.
Are there any restrictions?
There are several businesses which will need additional licensing under this Act but most business activities are allowed. For a comprehensive overview please do contact our Business Lawyers.
What else does the Thai-Australian Treaty offer?
None other than thse noted above. The Treaty does not bring any particular benefits in terms of visa, work permit requirements or the revenue department unlike the Board of Investment (BOI).
Common work permit question for this setup
Do I have to hire Thai staff for my work permit?
Yes, the standard obligation is having 4 Thai employees and paying taxes to the Social Security.
How much registered capital do I need for a work permit?
The standard rule is 2 million Baht registered capital. There is an exception for people married to a Thai citizen to be only 1 million Baht registered capital.
Is there something else to consider?
It is quite common that a foreign investor forgets the requirement of having a registered address and to maintain it. This is an important factor as the Ministry of Labour requires an actual physical working space. In addition to this Thai law does requires a minimum of 3 shareholders at all times.
Even though operating your business with an Australian-Thai company does sound rather simple there are several exceptions to the abovementioned i.e. license requirements, higher Thai shareholding requirements, Thai directorship or even more favorable structures.
We are looking forward to help you grow your business and as well to receive your inquiry soon.
|■ Legal foreign ownership over 49% of shares for Australian or Thais only.||■ Long setup time (6-8 weeks)|
|■ More expensive setup|
|■ Impossible change of business objectives without losing Australian license|
|■ No directors beside Thai or Australian allowed|
|■ Certain objectives are excluded from coverage|
|■ No shareholders beside Australian or Thai|
Legal Disclaimer: All information displayed on this site are compiled with the most amount of care. As law and life is bound to changes we cannot warrant that all information is accurate at all time and intended to be a guideline. In order to provide you a correct and up to scratch information please do contact our experienced business lawyers and accountants.