Q1: Is it easy to work with the banks there regarding international incoming and outgoing transactions? What are the regulations?

PANWA: Normally, most local banks in Thailand require work permit of director (if the director is a foreigner), however, we could assist you to open corporate account, with one bank, one branch that does not require work permit. Once you open the corporate account, the international incoming and outgoing transactions do not have problem; it is same as any normal banking procedures and can also use internet banking for such transactions.

Q2: Will you introduce us to the banks, or do we have to apply ourselves? How many bank accounts can we get and are they guaranteed? Who are the banks that you work with?

PANWA: In case of the open bank account service option that you chose (Baht 5,000), we will also send our staff (together with your team) to assist you directly at the bank to open the account. Moreover, we have helped many clients to open on the bank that we could assist, so it is guaranteed, and you could open only 1 account (corporate savings account), as mentioned on the proposal. This is due to the bank policy requires the company to open under savings account first and after 3 months, the bank officer would assess if your company’s savings account had some movements and at least Baht 50,000 maintaining balance, then that is the only time your company could be allowed to proceed with opening current account. We could assist to open at Bangkok bank only.

Q3: If we decide to use your service for company registration with open bank account so please estimate time for us to standby in Thailand.

Panwa: Yes, can stay here only 3 working days as follow below timeline.

• Day 1, sign company registration form.
• Day 2 we do registration of company.
• Day 3, open bank account.