Transcript of the above video:

As the title of this video suggests, we are discussing Corporate Savings Accounts for Thai Companies. For those who are unaware, Thai Corporate Banking, first of all obviously you would need to set up a Thai Company. So, if you are a foreign national looking to do business here in Thailand you would either have to do that in compliance with the Foreign Business Act and if you are an American you may be able to set up a Company and get it certified pursuant to the provisions of the US-Thai Treaty of Amity which could allow you to own your company 100%. Other foreign nationals may have to deal with the Foreign Business Act or depending on what kind of business you are in, it may be possible for example to get set up under the Board of Investment scheme, under the Board of Investment protocols and thereby gain concession under the BOI and under certain circumstances you might be able to have full foreign ownership under those circumstances as well. 

Long story short, okay presuming you have your corporate documentation in order what about Banking? Well there are different kinds of banking in Thailand for a Corporation. Kind of the primary one in my opinion is a Corporate Savings account where you just have a savings account in the Company's name. Now the downside of this is no you don't have cheques directly on that account. We are making another video contemporaneously with this one where we discuss Corporate Checking Accounts but yeah, a Corporate Savings account is exactly what its name implies, it is a savings account. You may have to go in, pull cash to do business; a lot of people don't particularly prefer to do that, but it may be possible to get online banking with respect to that and under those circumstances that may provide some level of convenience. Checking accounts oftentimes are kind of the next sort of step for those looking to do business here in Thailand and we will certainly do another video on this channel on that topic so stay tuned.