Transcript of the above video: 

As the title of this video suggests, we are discussing there's a new system for Business Incorporation in Thailand. I thought of making this video after reading a recent article from the Pattaya Mail, that is pattayamail.com, the article is titled: Thailand hunts "nominees" - a risky game that ends in prison and corporate erasure. Quoting directly: "A new system: detecting falsehoods from day one. Quoting directly: “As of April 1, 2026, company registration is no longer a procedural exercise it is a substance verification process." - again like all of this kind of new speak kind of talk - quoting further: "Applicants should expect Formal declarations confirming actual capital contribution, Disclosure and verification of source of funds, Financial capability assessments of shareholders, Strict identity verification through e-KYC systems" - what e-KYC systems? Know Your Customer. So now we have got to have to do a bunch of Biometrics if you want to be involved in a private company in Thailand? We've already got to do all kinds of nonsense hoop-jumping through to be able to do basic banking functions - quoting further: "Automated risk detection using Data Analytics." Automated risk detection using data analytics. What does that mean? Meanwhile is this all going to become an exercise in "well the computer says you can't do it, so now you can't do it, because the computer says you can't do it!" This isn't a good place we're heading, especially if we want to encourage foreign investment in Thailand. Quoting further: "The system does not merely assess whether documents are complete. It evaluates whether the information reflects economic reality." Okay, I do get some of this, but this has always been here, and meanwhile, as I have discussed in other videos, this seems to be targeting, I did a video of the "attacking hordes" if you will of foreign nationals looking to circumvent Thai law especially with regard to restricted occupations, how about we just enforce the laws on restricted occupations rather than making it generally more difficult to just do business here? This communal punishment stuff it's the inclination in the Oriental mind that I've often noticed the Thais will from time to time try to overcome or liberate themselves from because this doesn't have good outcomes. Using this sort of mass punishment, communal punishment, “hey there are bad operators that use corporations to do things illegally in Thailand”, why don't we use law enforcement to track down those people rather than punishing everybody that just wants to invest in Thailand? That would be my thinking. And then meanwhile, again, resorting to just allowing data analytics to dictate the conclusions to be drawn, I find this very concerning, and we are going to end up putting ourselves in a position where Thailand does not look attractive to foreign investment. Quoting further: "It evaluates whether the information reflects economic reality. If a shareholder lacks the financial capacity but appears as a major investor, the system will not treat it as an inconsistency but as a trigger for investigation." Well, yeah, I can understand that. 

That said, this looks to be the way incorporations are going to be done moving forward. However, those that were in compliance with the law heretofore, again as long as they are continuing to operate a legitimate business, I don't see where these changes are going to affect them retroactively. I could be wrong, but it looks to me like yes, we are going to have new steps associated with setting up a company here in Thailand. Exactly what those new steps look like remain to be seen so we will certainly be keeping folks updated on this channel as the situation evolves.