Transcript of the above video:

As the title of this video suggests, we are discussing Accounting Services and Property Holding Companies in Thailand. To be clear, as I have stated in many other videos, property holding companies, companies that are holding property wherein there is a foreign national affiliated with the company, you need to be very careful with those structures. It is not a foregone conclusion that A, you can get it set up or that B, it is even legal because if it's deemed that that structure is basically being used to circumvent Thai Law restricting foreign ownership of Thai land, the Company can be dissolved, the land can be essentially taken back via the Legal Execution Department; it's not a good deal. There are circumstances where it may be appropriate for there to be a Holding Company that owns a piece of property. Most the time that I see that where it sort of overcomes the issues is where you have got an operational company where it usually involves foreign spouses of Thai Nationals actively involved in working, they are working together. It's like a shop house model. The bottom floor is like a store or a shop and the top floors they live on and there may be a corporate structure set up that allows the foreign national to have some level of control associated with that. You may be able to get there usually in the context of a marriage.

For the most part, you really need to be very, very leery of Property Holding Companies in Thailand which brings us to the issue of accounting. This is something not a lot of people think of when they are dealing with a Holding Company and that is look there are accounting issues even for a minimal company that is not doing a lot which again is another problem with a Holding Company. Leaving that aside, if you neglect the accounting you could end up in a situation where you either have to pay tremendous amounts of fines or they could just dissolve the Company and yet again now you are in a problem where you may lose the underlying property. 

So the thing to keep in mind if you are looking into this and I urge you if you are, do not go into this cavalierly because notwithstanding how it's presented on the internet unfortunately, this is not something that should be done in just sort of a slap dash manner. If you are doing this, you have to be very precise. Something I don't think many people think of is accounting is a concern and it is something that should be dealt with when you are dealing with not only a Holding Company, but any kind of company here in the Kingdom of Thailand.