Transcript of the above video:

As the title of this video suggests, we are discussing selling a Company in Thailand. For those who set up a Company in Thailand and maybe you build your business and somebody comes along and wants to buy it, there are a lot of things to consider from the seller's side and one of the major things is extraction from liability associated with the Company after the sale. You want to make sure the formalities associated with removing oneself from the Company are fully flushed out. You want to make sure that is fully completed so that you don't end up in a situation where you have got a lot of liability associated with the Company you are no longer associated with. 

Now that may seem commonsensical but in Thailand there are a lot of formalities especially from a western perspective, there are a number of formalities that are really unforeseen by your casual westerner doing business here because honestly westerners can make a lot of assumptions that really aren't valid under the way that the Thai legal system works. 

So it is definitely something to consider. I am not saying it is necessarily an exercise in due diligence but you definitely want to have your own counsel when you are dealing with a sale to make sure you are fully removed from the Company. I am talking about this in more of an SME context. In a merger and acquisition context obviously lawyers are going to be involved because it gets very complex but just sort of simple sale of a business, you want to go ahead and make sure that that sale is fully formalized so that the seller's relationship to that entity is fully severed at the time of sale.