Transcript of the above video:

As the title of this video suggests, we are discussing company set up here in Thailand, just some things to think of. Now this is not a primer for somebody, a major corporation that is coming in here; we can talk to folks like that, obviously assist. I am basically talking about folks who are expats looking to come out, set up an SME, do some business in Thailand; maybe use it as a vehicle to get a Business Visa and a Work Permit, maybe use that as a vehicle then one day go after Permanent Residence and possibly even citizenship down the road. This is kind of who I am talking to with respect to this. 

When folks set up a Thai Company, there are some things I think they don't really think of right out of the gate. Oddly enough one of the big things is "what are you actually going to do?" I have met with a lot of folks that have gotten set up here and then they are kind of standing there going like "now what?" The answer is "well you should have an idea of what kind of business you want to do before you even start worrying about structure and Work Permits and Business Visas and these kinds of things because once you're up and going, if you are not sitting there generating cash flow, then you may have some issues with respect to maintenance of that Company, compliance, tax liability etc., so that's a big one. 

The other thing to understand is the Work Permit and the Visa. With respect to foreigners, it is not just a matter of setting up a Company here. Yes you may be able to set up a Company and be kind of a more passive director or passive shareholder but if you're looking to actively be involved in the running of the day to day Company, one of the biggest things to remember, you are going to then need a Business Visa and a Work Permit unless you have another Visa that will act as a platform for doing a Work Permit, you are going to need to go ahead and get into Business Visa and work authorization status or you are not going to be able to run that business. That's a major concern that I don't think a lot of people look at when they are looking at setting up a Company here in Thailand.