Transcript of the above video:

As the title of this video suggests, we are discussing certification of a Thai Amity Treaty Company. For those who are unaware, the US-Thai Treaty of Amity allows foreign nationals of American origin so basically American citizens, American Companies, to gain what is called National treatment pursuant to the provisions of the Treaty notwithstanding the provisions of the Foreign Business Act. 

So what we are talking about here is the Foreign Business Act prohibits foreign nationals from operating many types of companies unless that Company is 51% Thai owned. Under the provisions of the Amity Treaty, that is sort of overcome if you will it or it is rendered irrelevant because the provisions of the Treaty in a sense supersede that statute so you basically have a situation where the Treaty of Amity Company is treated as if it were just a Thai Company. It is given National treatment; it is treated as if it was a Thai National in a sense. 

Then the question becomes and the major issue with respect to gaining those benefits with respect to that Company is getting it certified. So not only do you have to incorporate the entity but it also has to be certified under the provisions of the Treaty so that the Thai Government recognizes it. Now the process can be rather complicated. Basically you are dealing with the Ministry of Commerce; you are dealing with the Commercial Section over at the US Embassy. There are a bunch of different things that go into the certification but the certification is key if you will. Once the Company is certified, at that point it clearly falls under the provisions of the Treaty. National treatment is vested if you will or attaches so to speak and basically you can operate your Company in much the same way that a Thai Company could operate here in the Kingdom of Thailand.