Integrity Legal - Law Firm in Bangkok | Bangkok Lawyer | Legal Services Thailand Back to
Integrity Legal

Legal Services & Resources 

Up to date legal information pertaining to Thai, American, & International Law.

Contact us: +66 2-266 3698

ResourcesCorporate and Tax AdvisoryThailand Corporate LawWhat Are Corporate Director Duties and Liabilities in Thailand

What Are Corporate Director Duties and Liabilities in Thailand

Transcript of the above video:

As the title of this video suggests, we are discussing Corporate Directors and duties and liabilities associated therewith here in Thailand.  

In a recent email I got, I want to go ahead and quote this: "Ben, is a Thai Corporation a separate legal entity similar to a corporation in the US? It seems from what you are saying in this video," (it is another video, I guess this is a comment actually) "that the Directors of the corporation have direct liability?"

No that wasn't what I was saying. First of all understand, and we have done another video on this, to compare US Corporations with Thai Corporations, some things are not totally analogous. So you should not make any assumptions that Thai companies work similarly to US Companies; start there from a legal standpoint. Secondly the overall director liability issue. First of all, are they separate entities? Yes, there are sole proprietorships here in Thailand but limited companies are a legal entity separate and apart from even the people involved in it. Now that said, yeah there are specific Director Liabilities, there are specific Director Duties and failure to perform those duties can result in liability. Does that mean you are the same thing as the Company? NO. Does that mean there is flow through liability? NO, not directly; not from the public. There may be certain liabilities from a Director say to a shareholder depending on the circumstances. I am not going to get too deep into that. As I have noted in other videos, I am not a Thai Attorney; I am an American Attorney. I am a naturalized Thai citizen and the Managing Director of the firm. We have Thai Corporate Attorneys who handle the ins and outs and the details of this but just for informational purposes, long story short there are a number of Duties and obligations on directors here in Thailand and No, that does not make them the same thing as the legal entity of a corporation.