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Jul. 4--Ever since the Alien Business Law took effect in 1972, American citizens have had privileges under the Treaty of Amity and Economic Relations.
They are neither restricted nor limited to do business in the country. Only in six businesses -- communication, transport, deposit banking, trading in local farm products, land utilisation and natural resources -- are Americans prohibited to operate. On the other hand, other foreigners were called "aliens" and prohibited, restricted and/or limited to do businesses in the country.
However, several years after the law took effect, the so-called "aliens" found ways and means to operate their businesses on an equal footing with the Americans. They either set up a Thai company, which is 51 percent owned by Thais and 49 percent by foreign nationals, secured by a loan agreement, share transfer document blank form signed ...