THAI-AUSTRALIA FREE TRADE AGREEMENT
Like the Treaty of Amity, the Thailand-Australia Free Trade Agreement (TAFTA) also allows the Australian citizens and companies to set up a local company that can engage in certain restricted businesses in Thailand without the need to obtain for the foreign business license.
Those businesses are:
(1) mining,
(2) construction,
(3) sales of food and beverages,
and
(4) certain services.
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The Australian citizens and companies are permitted to hold shares up to 60% or 100% in a locally incorporated company that engages in these businesses, depending on the type of a business. In order to benefit from the FTA, the Australian owned local company must register the FTA with the relevant Thai authority. We handle the FTA registration application for our clients.
JAPAN-THAILAND ECONOMIC PARTNERSHIP AGREEMENT
Similarly, the Japan-Thailand Economic Partnership Agreement (JTEPA) allows the Japanese citizens and companies to form a local company that can engage in certain restricted businesses in Thailand without the need to obtain the foreign business license.
Those businesses are:
(1) retailing,
(2) wholesaling,
(3) advertising business,
(4) hotel business,
(5) selling food or beverage,
(6) general management consultancy,
(7) logistic consultancy except for transportation
services, and
(8) maintenance and repair services.
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The Japanese citizens and companies are allowed to hold shares up to 100%, 75%, 60% or 50% in a locally incorporated company that engages in these businesses, depending on the type of a business. In order to benefit from the JTEPA, the Japanese owned local company must register the JTEPA with the relevant Thai authority. We handle the JTEPA registration application for our clients.
