DSI Raids Accounting and Law Firm in Phuket Allegedly Being Illegal Nominee for Foreigners

[webfact]

 

Phuket – The Department of Special Investigation (DSI) raided an accounting and law company in Chalong for allegedly being an illegal network nominee for foreigners with a hundred million baht of total damages.

 

The raid on Thursday afternoon (June 15th) at the company was led by Major Suriya Singhakamon, the DSI director general. Staffers were working as normal while servicing foreign customers who wanted to set up companies. They were all asked to stop working while DSI officers were collecting evidence.

 

Major Suriya told the Phuket Express “The owner of this company is a Thai woman who has a British husband. The raid followed us having found that the company is allegedly being serviced by foreigners to set up companies as nominees. This accounting company has about 40 staffers and the company has been operating for more than 15 years.”

 

“There are about 100 companies which have been registered by foreigners with this company. Of those, 44 companies are involved with land which have cost about 100 million baht of damages. Most of their customers are Russians. 

 

By Goongnang Suksawat

 

Full story: https://thephuketexpress.com/2023/06/15/dsi-raids-accounting-and-law-firm-in-phuket-allegedly-being-illegal-nominee-for-foreigners/

 

-- © Copyright The Phuket Express 2023-06-16

 

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[ukrules]

  On 6/15/2023 at 8:08 PM, webfact said:

Of those, 44 companies are involved with land which have cost about 100 million baht of damages.

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Damages? What was damaged?

 

Sounds like they're making stuff up to me.

 

The article is complete nonsense if they're talking about tax, how does a Thai owned company do this when the company changes ownership?

[harleyclarkey]

Well now, there are s get property owners having the shakes and sweats?

 

The DSI could raid any law firm in Phuket and find serious irregularities. 

There actually is no law on Phuket....just gauging the price and value of any undertaking to stick in the back pocket. 

[geisha]

Maybe damage to forest or beach land ? Not sure, but I saw many newly built villas on Phuket , mostly on hillside near the sea. I was told by a friend who lives in Kata that they were mostly Russian owned.  Same has happened in Bali .

[Aviatorhi]

Buy in the FQ and avoid the gray area - so simple, so easy.

[Bim Smith]

Those poor people who get duped into believing they can own property in Thailand. You can't. 

[Davedub]

  On 6/15/2023 at 9:35 PM, Aviatorhi said:

Buy in the FQ and avoid the gray area - so simple, so easy.

Expand  

What is the FQ?

[ChipButty]

  On 6/15/2023 at 9:42 PM, Davedub said:

What is the FQ?

Expand  

Foreign Quota

[riverhigh]

From the original article:

 

“Foreigners are real company owners with Thai people as shareholders. Buying lands via nominee companies are not real businesses because by law they have to pay for tax and other fees, about 10 percent for each time of purchase. Foreigners buy lands via changing shareholders to avoid tax and Thai law around owning land. The future problem is, lands will finally belong to foreigners, which is strictly against the law in Thailand and what sparked this raid.” Major Suriya told the Phuket Express.

 

I have no sympathy for people, in this case foreigners, who knowingly are circumventing the laws. There are no innocents. Friends and acquatances of mine who own houses through a corporation know exactly what they are doing is illegal. Their deep down beleif is that there is safety in numbers and the Thai government will never go after them because of the damage it would cause the Thai economy. 

[ChipButty]

I reckon they could raid every Law office on the island and find plenty of dodge deals

[hotchilli]

From the link:

Major Suriya told the Phuket Express “The owner of this company is a Thai woman who has a British husband. The raid followed us having found that the company is allegedly being serviced by foreigners to set up companies as nominees. This accounting company has about 40 staffers and the company has been operating for more than 15 years.”

 

On the ball then?

[jcmj]

And just one more reason Thailand is not a suitable place to push for retirees. This rears its head every few years then goes away, but you never know when they might go full force. However, don’t be fooled that buying in FQ is 100 safe. If the government doesn’t want foreigners to own property they can revoke that as well. And if you don’t believe me look what happened in Mexico many years ago. They took everything back. Sure hope they wouldn’t go that far, but this is Thailand and they do what they want when they want. 

[ChipButty]

Must have been doing some business to have 40 staff, 

[MrJ2U]

  On 6/15/2023 at 8:08 PM, webfact said:

Most of their customers are Russians. 

Expand  

Lovely. 

 

No love lost then. Send them back to purgotory. 

[Gknrd]

Lots of home owners in Puckett are going to be on pins and needles.  Such a great place to retiree..

[findlay13]

  On 6/15/2023 at 9:35 PM, Aviatorhi said:

Buy in the FQ and avoid the gray area - so simple, so easy.

Expand  

Buy in the Far Queue ?????

[sammieuk1]

Most of their customers are Russians ????

[moe666]

  On 6/15/2023 at 9:33 PM, geisha said:

Maybe damage to forest or beach land ? Not sure, but I saw many newly built villas on Phuket , mostly on hillside near the sea. I was told by a friend who lives in Kata that they were mostly Russian owned.  Same has happened in Bali .

Expand  

The damages would be illigal ownership of land

[ChipButty]

We all know what goes on its not big secret, so now what they going to do about it? start arresting the Farang? 

 

Dont pi$$ the Farang off to much this news will travel fast especially around the Russian community, 

[crazykopite]

Brown Envelopes????

[crazykopite]

  On 6/15/2023 at 10:07 PM, jcmj said:

And just one more reason Thailand is not a suitable place to push for retirees. This rears its head every few years then goes away, but you never know when they might go full force. However, don’t be fooled that buying in FQ is 100 safe. If the government doesn’t want foreigners to own property they can revoke that as well. And if you don’t believe me look what happened in Mexico many years ago. They took everything back. Sure hope they wouldn’t go that far, but this is Thailand and they do what they want when they want. 

Expand  

I’ve had a good 18 happy years here purchased and sold property in that time so much so I was able to build my beach home. Yes it’s high stakes but when I came here I was prepared to lose the capitol I had brought over I knew and fully understood the consequences and risks I was undertaking there is absolutely no way could I ever had such a property in Europe . If I lost it tomorrow I would shed a tear but I wouldn’t be destitute and I would take with me 18 wonderful years of living in Thailand my next destination would be the Philippines where my U.K. pension would no longer be frozen and would give me an extra 2,000 baht a week . Life’s a gamble some you win some you lose but as my dad taught me never keep,all your eggs in the same basket !!!!

[Destiny1990]

So now-they have to change their company owned land and house into an ordinary poorly 30 years lease hold or ?

[Reigntax]

Maybe damage to the faces of DSI that it has been operating under their nose for 15 years whereas every other man and his dog has known this has been occurring since Thailand was ruled by the dinosaurs. 
 

That’s about the time since the British decided it wasn’t worth colonising as it wasn’t worth the effort

[ChipButty]

  On 6/16/2023 at 12:55 AM, Destiny1990 said:

So now-they have to change their company owned land and house into an ordinary poorly 30 years lease hold or ?

Expand  

Who will own the land? 

[ChipButty]

  On 6/16/2023 at 1:07 AM, Reigntax said:

Maybe damage to the faces of DSI that it has been operating under their nose for 15 years whereas every other man and his dog has known this has been occurring since Thailand was ruled by the dinosaurs. 
 

That’s about the time since the British decided it wasn’t worth colonising as it wasn’t worth the effort

Expand  

More than 15 years that I know of

[kingstonkid]

  On 6/15/2023 at 9:58 PM, riverhigh said:

From the original article:

 

“Foreigners are real company owners with Thai people as shareholders. Buying lands via nominee companies are not real businesses because by law they have to pay for tax and other fees, about 10 percent for each time of purchase. Foreigners buy lands via changing shareholders to avoid tax and Thai law around owning land. The future problem is, lands will finally belong to foreigners, which is strictly against the law in Thailand and what sparked this raid.” Major Suriya told the Phuket Express.

 

I have no sympathy for people, in this case foreigners, who knowingly are circumventing the laws. There are no innocents. Friends and acquatances of mine who own houses through a corporation know exactly what they are doing is illegal. Their deep down beleif is that there is safety in numbers and the Thai government will never go after them because of the damage it would cause the Thai economy. 

Expand  

But just to clarify.  I take it ass u me that the Thai shareholders are members of the staff or friends of the accounting firm.  If that is the case could they not eventually take over the properties as they would have the majority of the shares.

 

The bigger issue is how much is this going to screw things up in the future for others that want to start a real business

[Smokey and the Bandit]

  On 6/15/2023 at 9:36 PM, Bim Smith said:

Those poor people who get duped into believing they can own property in Thailand. You can't. 

Expand  

Do you mean those 'poor foreign people' ? If so you are spot on!

[brianthainess]

It seems they have run out of overstayers, now this, what next? Agents? foreigners with not enough money in the bank? 

They seek 'em there 

they seek 'em here, 

they seek Falang everywhere.

is this heaven? or is this hell?

that dammed elusive ...........only time will tell. 

[bignok]

  On 6/15/2023 at 11:20 PM, Gknrd said:

Lots of home owners in Puckett are going to be on pins and needles.  Such a great place to retiree..

Expand  

Phuket is a nice place to visit.

[bignok]

  On 6/16/2023 at 12:39 AM, crazykopite said:

I’ve had a good 18 happy years here purchased and sold property in that time so much so I was able to build my beach home. Yes it’s high stakes but when I came here I was prepared to lose the capitol I had brought over I knew and fully understood the consequences and risks I was undertaking there is absolutely no way could I ever had such a property in Europe . If I lost it tomorrow I would shed a tear but I wouldn’t be destitute and I would take with me 18 wonderful years of living in Thailand my next destination would be the Philippines where my U.K. pension would no longer be frozen and would give me an extra 2,000 baht a week . Life’s a gamble some you win some you lose but as my dad taught me never keep,all your eggs in the same basket !!!!

Expand  

Id be happy with the Apple basket only