Transcript of the above video:

As the title of this video suggests, we are discussing American Companies versus Thai Companies.

A recent email I got from someone basically said: "Ben, is a Thai Corporation a separate legal entity similar to a Corporation in the US?" Yes, it is what we sometimes refer to as a juristic person or a legal entity, it is a corporation. But when you say similar to the US, well an entirely different body of law governs incorporated entities in Thailand than governs incorporated entities in the United States.

Thai Companies, the vast majority of companies especially that foreigners use, especially those with Work Permits, look much more like C-Corps; just standard incorporated companies in the USA. It doesn't look so much like an LLC; it doesn't look at all like a sole proprietorship. The LLC, if you think it is like an LLC think again. That is not really how these things play out or that is not an accurate comparison at all. Also, you have to bear in mind the body of law that operates over here, Thai Corporate Law is a very different kettle of fish. It is somewhat similar to say British or American Law on companies insofar as it has Thai entities, but the rules regarding corporate shareholder meetings, director meetings, various maintenance issues associated therewith it is different, in some ways substantively so. So, coming in and presuming that Thai companies are similar to American companies is not a good presumption to make.