BANGKOK, Thailand – The government is introducing enhanced screening measures on August 1 to crack down on the illegal use of Thai nominee shareholders by foreign businesses while supporting fair competition and lawful investment. The new system replaces basic registration checks with more detailed, risk-based reviews of company records. Deputy Government Spokesperson Lalida Persvivatana said authorities will examine corporate registration records, shareholder structures, financial statements, accountant information, and other business data to identify companies suspected of using nominee arrangements. Businesses will be classified by risk level, allowing investigators to direct resources toward cases that warrant closer scrutiny.
When suspicious activity is identified, authorities may request additional documents from Thai shareholders and other related parties, including financial records, proof of investment funds, and bank statements to verify the source of capital. Each investigation will be conducted individually, with decisions based on documentary evidence. The revised screening process helps distinguish legitimate businesses from those using nominee structures to circumvent foreign ownership restrictions, not to discourage lawful foreign investment. Officials said the measures will improve enforcement effectiveness while providing fair competition for businesses operating in compliance with Thai law. (NNT)
