Transcript of the above video:

As the title of this video suggests, we are discussing well there has been new decree promulgated here in Thailand in February 2023. I was doing a video, I think it went up not too long ago; it might have even gone up since the promulgation of the decree, I was just unaware of it, but we were talking about it I thought it was back in late January that yeah shareholders and promoters associated with companies in Thailand at that time the requirement was three which by the way going back about 20 years ago, that's down from seven. There was a time in Thailand wherein in order to set up a Thai Company you had to have seven shareholders, it was reduced to three, now we are down to two promoters/shareholders associated with incorporation of a Company in Thailand. So pretty major news, we are knocking back another individual if needed.

This does have pretty profound ramifications because in the past, we would often see people set up structures here in Thailand especially in sort of the promotion phase, where they just kind of need a third wheel and oftentimes it would be an Attorney or somebody we would often see this happen, just be the case when looking at incorporation documents on a previously incorporated company. But yeah it was mostly a formality having this "third wheel" if you will and that is basically going away. So as of now, it looks like we are dealing with two promoters associated with setting up a Thai Company and we will keep you updated on this channel as the situation evolves.