American and Thai Corporate Law
American and Thai Corporate Law
The following article compares and contrasts the systems of company incorporation in the United States of America and the Kingdom of Thailand.US law and the laws of Thailand are very different bodies of jurisprudence. However, there are some parallels in the field of corporate law. In this post we will briefly examine the rather minor dissimilarities between the two systems.In the United States of America, one of the most common entities used to conduct business is the limited liability company (also referred to as an LLC). This type of entity was created in order to provide a relatively easy means for individuals and groups to organize a company with limited liability at a relatively low cost and with relatively little in the way of supporting documentation compared to incorporated entities such as a "C Corp" or an "S Corp". That being said, an American LLC still requires upkeep as records must be kept up to date and the activities of the company must comport with the law of the jurisdiction in which it is incorporated. Therefore, many alien nationals decide to retain the advice of an American lawyer when setting up an LLC. Notably, a registered agent in the United States may be required if the principal parties involved in the LLC's activities are not routinely present in the jurisdiction in which incorporation took place.In Thailand, establishing a company is, in many ways, not as straightforward compared to the USA. Thailand does not really have any type of legal entity akin to the American LLC. Furthermore, limited liability is only granted under certain conditions and the conditions associated with such an endeavor are usually cumbersome. Another issue in Thailand is the Foreign Business Act. This legislation prohibits foreign companies from conducting certain types of business in Thailand. This can be a tremendous obstacle for those wishing to enter the Thai market. Although, through use of legal mechanisms such as Foreign Business Licenses, Amity Treaty Certificates, and/or Board of Investment Certificates a foreign company in the Kingdom of Thailand may be eligible to enjoy relative legal equality with its Thai counterparts. That said, Thai visas as well as employment authorization may still be necessary for the foreign employees of the company.With regard to visas and work authorization both the US and Thailand have rigorous regulations regarding foreign labor. In the United States, certain visas such as the L-1A or L-1B may confer limited employment authorization depending upon the provisions of the travel document. Those entering the USA as an Immigrant may be accorded unconditional permanent residence depending upon the category of the visa. In the Kingdom of Thailand, the visa issues are often more straightforward although the issue of employment authorization can be more complicated than the US regulations regarding employment authorization. In any case, it is generally advisable to consult with a licensed lawyer from the jurisdiction where an individual wishes to conduct business. This helps ensure that the proper steps are taken at the outset of the company incorporation process. Have real pleasure of Madrid Travel by enjoying it like locals InterContinental Hotels Group Franchise Review La Boqueria in Barcelona – a multi-visit destination Pensacola Beach Coupon Book – A Guide for an Excellent Travel Destination Zihuatanejo, the Fishing Paradise of the Gold Coast of Mexico Jani-King Franchise Review Villas To Rent In Ayia Napa Advent Wreaths Are No Ordinary Christmas Wreaths Have an Entertainment-Filled Break with London Accommodation Zihuatanejo among the best places to retire in the World Practical Tips For Holiday Travel Kerala Tour Holiday In The Evergreen Paradise Of Earth Singing Sing-A-Ma-Jigs - The Hottest Gift This Christmas For 2010