Category: Company Formation
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Urgent Warning: Thailand Cracks Down on Nominee Shareholding
Rising Risks of Nominee Shareholding — Businesses Urged to Conduct Immediate Compliance Reviews Thailand has recently intensified its enforcement efforts, releasing a series of major announcements that have drawn the attention of foreign companies across multiple industries. Police units are dismantling cross-border financial crime networks, while the Ministry of Commerce has opened an unprecedented investigation
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Urgent Warning: Thailand Begins Major Crackdown on Illegal Nominee Shareholding
Six High-Risk Industries Brought Under Enhanced Regulatory Oversight Recently, the Business Development Department (DBD) under Thailand’s Ministry of Commerce convened a key meeting together with commercial offices from 11 provinces, including Chonburi, Samut Prakan, and Nonthaburi. During the meeting, authorities formally disclosed the severe prevalence of Thai nominee shareholder arrangements in six high-risk industries and
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Thailand’s DBD Cracks Down on Illegal Nominee Shareholders
In recent years, surging foreign investment has driven record company registrations in Thailand. Yet behind this growth, hidden risks emerge as some businesses use Thai nationals as nominee shareholders or fake directors to evade regulation. This practice not only disrupts fair market competition but also poses potential threats to Thailand’s economic security. To address these
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Urgent Insight: Key Obligations After a BOI Certificate
One crucial step that is often overlooked by foreign-invested companies in Thailand is, in fact, assigning a BOI officer to handle system reporting. Many foreign-invested or export-oriented companies mistakenly believe that once they have obtained the BOI certificate, all the incentives will automatically apply. In reality, companies must actively apply for and report BOI benefits
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How to Stay Compliant When Doing Business in Thailand
Thailand cracks down on foreign employment Recently, Thailand’s Minister of Labour, Phiphat Ratchakitprakarn, issued an order to intensify the crackdown on illegal foreign workers. The focus is on jobs legally reserved for Thai nationals. From October 1, 2023, to June 13, 2024, authorities uncovered 4,437 cases of illegal employment of foreign nationals. This signals that
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BOI in Thailand: The Best Weapon for Foreigners
What is the BOI? The Board of Investment (BOI) of Thailand promotes economic growth, attracts foreign investment, and introduces new technologies. Its mission is to enhance global competitiveness, upgrade industries, avoid the middle-income trap, and ensure sustainable development. The BOI supports industries such as high-tech manufacturing, smart electronics, renewable energy, biotechnology, the digital economy, aerospace,
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Legal Risks of Nominee Shareholders in Thailand: Avoid Traps Now
In recent years, Thailand’s rapid economic growth has attracted more foreign enterprises and investors. Many have entered the market and established companies. However, some use nominee shareholders to bypass Thai laws and evade legal and shareholder regulations. This practice was once regarded as a shortcut. As the Thai government tightens supervision on foreign businesses, legal
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Thailand Cracks Down on Illegal Nominee Shareholders
The Thai government is intensifying market supervision and ramping up efforts to crack down on illegal nominee shareholders and “fraud accounts.” The Thai business community is facing stricter compliance requirements. Recently, while targeting enterprises with illegal nominee shareholders, the government has focused particularly on “fraud accounts.” These accounts not only serve as tools for illegal
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Thailand’s DBD Launches New System: Key Tips You Must Know!
The Department of Business Development (DBD) in Thailand has launched a new system Recently, the Department of Business Development (DBD) launched a new system. The system aims to optimize the business environment and strengthen market supervision. It will accurately verify the registered headquarter addresses of corporate business entities. Auramon Supthaweethum, the Director – General of
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Thai Business Crackdown: New Compliance Regime Unveiled
Recently, Thailand introduced new regulations. These include rules on company registration, bank account opening, and the use of personal bank cards and mobile banking. These changes will directly impact enterprises registered in Thailand and businesses planning to enter the Thai market. Failing to understand and adapt to these new regulations promptly can have serious consequences.