In fiscal 2024, 26,019 Thai businesses were linked to potential nominee activity; 498 remain under investigation, with 64 charged for violations, amidst broader scrutiny of foreign business practices.
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In fiscal 2024, 26,019 Thai businesses were linked to potential nominee activity; 498 remain under investigation, with 64 charged for violations, amidst broader scrutiny of foreign business practices.
Key Points
In fiscal 2024, 26,019 businesses in sectors like tourism, real estate, and logistics were flagged for potentially involving Thai nationals as nominees for foreign shareholders, according to Oramon Sapthaweetham of the Business Development Department.
Following screenings, 498 businesses are under investigation, with 371 cleared, 64 charged with accounting violations, and 63 cases, including four suspected nominee activities, still being examined by law enforcement.
The department is broadening investigations due to public complaints about foreign businesses violating Thai laws, particularly in sectors like online platforms, logistics, and construction, with penalties for nominee…