Bangkok: The government is stepping up efforts to prevent and suppress foreigners using Thai nationals as nominees to conduct business, with in-depth inspections beginning August 1st. According to Thai News Agency, Ms. Lalida Periswiwatana, Deputy Spokesperson for the Prime Minister's Office, announced that the government, led by Prime Minister Anutin Charnvirakul, is advancing efforts to curb the use of Thai nationals as nominees by foreigners. This move aims to protect legally operating businesses and foster fair competition, with new verification measures set to commence on August 1, 2026.
The deputy spokesperson explained that the new measures will enhance the scrutiny process by moving from basic information reviews to in-depth analyses, including examining corporate registration data, shareholder structures, financial statements, accounting records, and other pertinent information. This approach will aid in classifying risk levels and targeting companies potentially acting as nominees, thereby improving law enforcement efficiency while minimizing impacts on legitimate businesses.
In instances where suspicious data or activities are identified, authorities may request further information from Thai shareholders or related entities, such as financial documents or evidence, including bank statements. This is to verify investment fund sources and confirm their alignment with the declared shareholding proportions. Each case will be assessed individually based on evidence and facts.
The deputy spokesperson clarified that this measure is not a blanket rule for all foreign investors and is not intended to hinder foreign investment. Instead, it relies on data and financial transaction trails to distinguish legitimate businesses from those using nominee structures to evade legal requirements, thereby enhancing the accuracy, transparency, and fairness of law enforcement.
"The government prioritizes creating a transparent and fair investment environment, coupled with rigorous law enforcement against offenders," Ms. Lalida stated. She added that this heightened scrutiny will protect honest Thai entrepreneurs and investors, boost confidence in the economic system, and ensure that competition is conducted under consistent regulations.