Transcript of the above video: 

As the title of this video suggests, we are discussing corporations in Thailand, Thai companies specifically, and the notion of a "banking buffer" for foreign nationals. For those who are unaware, I have been doing a number of videos recently about all of the machinations that have been occurring in the banking sector with regard to freezing accounts; over in Vietnam, they have literally shut down 86 million accounts. All of this stuff tied to "oh, you have to do facial recognition, you have to do biometrics, to do any kind of banking." Digital banking, they are trying to cap it out at 50,000 baht to be able to transfer money on your digital banking app. Again it seemed to have started as sort of targeting foreigners; now Thais are having to deal with it. No one likes this. I think it's time this ends. Much like COVID, this needs to be put behind us. This is yet again undue foreign influence trying to impose totalitarianism on to Thailand, this time through the Banking System rather than the Public Health sector, but whatever, it is still undue foreign influence mostly looking to me like the OECD and the World Economic Forum when frankly they have no business coming into Thailand and interfering over here. 

That said, the reason for the video. Foreign nationals, look, a company can be very useful for a foreign national in Thailand especially if they want to work here. It can allow for sponsorship of work authorization i.e. Business Visa and a Work Permit, which can also put an individual on track for Permanent Residence and even citizenship. That's how I came through the system: set up a company, maintained my own Work Permit, eventually went on to gain my residence and my citizenship over time. I got my yellow book, eventually went on to get my citizenship and that all worked out worked out, it worked out great frankly.

The point I am trying to make with this video is on top of those considerations I think now you have to look at companies as kind of a "banking buffer" if nothing else as well. I have noticed that I have had far fewer issues with banking than a lot of folks have had. I think one of the reasons is my bank account doesn't hardly interact with anything other than my corporate account. Basically my company pays me in my capacity as the Managing Director here. I get a salary and that is basically all I get into my personal account. Now my corporate account or when I say mine, the firm's at this point, but at the end of the day I work here and all of that, the company and in any small business set-up, you can have a situation where your company is interacting with the economy broadly, whereas your personal account is basically just your personal account. It's in relative disuse frankly. This can create a lot of benefits for somebody who is looking to again live and work over here, as I mentioned, long-term Visa status, long term Work Permit status which can lead to residency and even citizenship. Those are all good things. You have got your tax ID number; all your ducks are in a row when you have a Work Permit. So basically, when you are sort of scrutinized by Banks, when you are scrutinized by other Government Offices, they sort of see the Work Permit, and they say, "hey this guy's paying taxes, he is legitimate here." That helps. But on top of it, with all this banking nonsense, I think corporate bank accounts, corporate banking can act as a real benefit to foreigners looking to live and work over here as well. So I think it is something definitely to think about. 

I've also done another video contemporaneously with this one for Americans specifically where I look at the ramifications of the provisions of the US-Thai Treaty of Amity, how that interacts with all this nonsensical OECD stuff that seems to be, they are attempting to impose on Thailand, this nonsense with regard to tax, nonsense with regard to banking, and I think that factors into an analysis if you are an American looking to do business here; again, under the Amity Treaty, Americans can own their companies outright. It's slightly different for other foreign nationalities, but that coupled with all these other issues involving Work Permit status as well as a sort of “banking buffer”, to my mind, you put all that together and there is a lot of really good reasons for setting up a company in order to live and work here in the Kingdom of Thailand.