Transcript of the above video:

As the title of this video suggests, we are discussing what can only be described as "Closely Held Corporations" in Thailand. When I am using that terminology, I am using kind of the American lexicon for corporations, corporate entities.

What I am kind of thinking of in my head, even though you could have other structures that could be deemed Closely Held Corporations, I am kind of thinking of the S Corp which was kind of designed to be a Closely Held Corporation. But I would say that Thai Limited Companies, especially SME Thai Limited Companies look a lot more like the American S Corp than they do an LLC, especially a member managed LLC, kind of what I call a "One Man Band" LLC in the United States. Thailand does not have a structure that allows that yet. They have talked about it a great deal about having the possibility of a one shareholder, one Director kind of company so kind of almost like an LLC member managed LLC with just a one-man band going there but they don't have it yet, they don't have it right now. It is much more like a C Corp, C Corporation, incorporated entity in the United States. It has got a Board; it has got to a have a minimum number of members on the board and there has got to be three minimum shareholders in Thailand per Thai Law, well specifically for the formalities of Thai Law regarding not only incorporation but the ongoing maintenance of a Thai Company; that's just the way it's set up right now.

So in many ways, Thai Limited Companies, just standard Thai Limited Companies very much resemble what I would call the S Corp or a Closely Held Corporation in the United States.