Transcript of the above video:

As the title of this video suggests, we are discussing companies in Thailand, specifically matters pertaining to organization and yes there are formalities associated with Thai Company organization. 

Companies in Thailand specifically Limited Companies in Thailand look much more like our C corporations if we are using the United States, and it is even almost a throwback a little bit. They are a lot more formalistic than an LLC or a Limited an LTD in the British system. It is not quite as fast and loose with respect to forming one of these companies and there are a number of formalities associated with maintaining them including but not limited to the organization process wherein one needs to go ahead and undertake certain formalities to form up the company. 

Now this can look a bit more daunting than it is especially if one uses legal professionals that generally deal with this on a routine basis so when one looks this stuff up on the internet it can be very daunting especially to the lay person. The other thing that may be a little bit off-putting are issues associated with capitalization here in Thailand. For SMEs, capitalization may not be as big an issue as it may be for larger corporations. That stated, again there are certain formalities associated with set up. Things like promoters have to come together to form the Company; and various formalities associated with shareholder meetings; possibly director meetings; issues associated with ongoing audits that need to be undertaken as well as tax maintenance needs to be dealt with to maintain a company in compliance with respect to tax liability. 

Long story short, if you are using a competent legal advisory service, specifically a law firm, that has Thai personnel on staff that deal with incorporations frequently and deal with capitalization of companies frequently, it is really not that daunting a process. In my opinion, yeah it takes longer than for example just setting up an LLC from scratch for example in the United States, but it is definitely I have had a lot of people here recently contact me and they start spinning their wheels and they get upset about the notion of the formalities associated with Thai Company formation. While there are substantial formalities, it is not overly cumbersome. In fact Thailand continues to rise on the list of countries where ease of doing business and the formalities associated with setting up a Thai Company in my opinion are not again overly cumbersome.