Transcript of the above video: 

As the title of this video suggests, we are discussing an accounting firm, another one has been targeted in a nominee crackdown. Quoting directly from The Phuket News, that is thephuketnews.com, the article is titled: Accountant exposed as 'nominee' director in Phuket foreign business probe. Quoting directly: "An accountant at a local accounting firm has been caught listed as a company director for a foreign involved business in Phuket as authorities widened a crackdown on suspected 'nominee' arrangements used to sidestep Thailand's Foreign Business Act. Quoting further: "The case was uncovered during inspections carried out on January 29 and 30 by the Department of Business Development together with the Department of Special Investigation, Phuket Tourist Police, Phuket Immigration and the Phuket Provincial Tourism and Sports Office, with support from Phuket Provincial Commerce Office." Quoting further: "The joint team targeted tourism-related businesses - including tour operators, hotels, restaurants and boat rentals - suspected of using Thai Nationals as nominees to conceal foreign control." I urge those who are watching this video, go check out The Phuket News, thephuketnews.com for more information in that article. 

Long story short, and the thing to take away from this video is the Thai Police are continuing to be proactive in searching out nominees. Now understand, the whole issue of the nominee thing, it can cut kind of a fine line in terms of legal analysis, but it's one of those that I think it's - which Supreme Court Justice was it that said, I don't know what obscenity is, but I know when I see it? I think it was all Oliver Wendell Holmes - in any event, it's kind of one of those deals with this nominee thing. Certain things, look, the Foreign Business Act in Thailand is what it is, so there are always going to be setups in Thailand of corporate entities that are set up 51/49 in favour of a Thai but involving a foreign national so as to comply with the Foreign Business Act. The difference between a nominee and a non-nominee, it can be a bit of a nuanced thing, but the big one is active involvement with the company, that's a big one and also whether or not a corporation is being used specifically to engage in occupations restricted to Thai nationals and those that Thai nationals deem exceptionally pertinent to such restrictions is probably the best way to put it.  What I mean to say there is for example, tourism and tourism-related businesses are considered a high priority in terms of cracking down on this nominee stuff; that's the thing to understand. If it's deemed to be being used solely for the purpose of circumventing the rules regarding restrictions on foreign nationals doing business in Thailand, that type of structure will be scrutinized more and you are possibly going to see more problems. 

Again there are all types of structures to set up a company in Thailand, and 49/51 setups are not at all uncommon, but there are ways to do it and there are ways not to. Those who feel a bit overwhelmed by some of this stuff, it may not be a terrible idea to contact a legal professional, gain some insight and guidance into how best to proceed.