How to make your business in Thailand survive in the Trump 2.0 era?

“No, I am not giving up on my business dream!” said Paul. Furious with Trump's announcement, he kept his mobile aside. Paul, a visionary enthusiast from California, registered his Thai restaurant license just 2 months ago.

More than global warming, the flashing headlines about reshoring policy create stressful situations for American investors. Such an aggressive push to make US investors return to their homeland for business growth is a worst-case scenario.

However, some hope remains before darkness stumbles upon your business dream.

Situation 1: Protecting business assets

Even if you own 100% of the foreign business rights, are you still feeling insecure about the safety of your business in Thailand? Let’s guide you through some legal conventions of the ‘U.S.-Thai Treaty of Amity and Economic Relations of 1833’:

? “...property of nationals and companies of either party, including direct or indirect interests in property, shall receive the most constant protection and security within the territories of the other party.”

Article III, Sec. 2 of Treaty of Amity 1996

Based on this regulation, your assets are safe and secured within Thai territories. Any form of political or national dispute won’t harm your business rights.

“... nationals and companies shall be permitted to engage accountants and other technical experts, regardless of the extent to which they may have qualified for the practice of a profession within the territories of such other party.”

Article IV of Treaty of Amity 1996

Under this rule, any business in Thailand has the 100% right to obtain legal expertise within Thai territories. You can get legal help from Thai experts while sitting in the USA.

Situation 2: Imposition of tariffs

What if Trump goes by his promise of imposing tariffs? A piece of great news: the Board of Investment (BOI) of Thailand protects investor rights with special incentives for foreigners.

Well, the best strategy for US investors is to focus import operations on these areas:

●???? Agriculture and agricultural products;

●???? Chemicals, paper, and plastics;

●???? Services and public utilities;

●???? Light industry;

●???? Technology and development;

●???? Electronics;

●???? Metal products, machinery, and transport equipment; and

●???? Mining, ceramics, and basic metals.

Situation 3: Changing the business location

“ when a certificate grantee ceases to operate the business/relocates an office….notification of such cessation or relocation shall be made to the Registrar within 15 days from the date of such cessation.”

Sec. 22 of Foreign Business Act, B.E. 2542 (1999)

Under such circumstances, the feasible solution is to notify your decisions to the Thai Business Registrar. Your business properties will be safely relocated to the new place, provided you share the details within 15 days.

At Konrad Legal, we ensure that your rights are safeguarded against violent storms in the business voyage to Thailand.

To register your business license in Thailand, visit https://www.konradlegal.com/business/amity-treaty-thailand/