Thailand Cracks Down on Foreigners Using Thai Nominees

[BritScot]

It must be legal! A loophole yes but illegal, no! All this fuss, simple answer is close the loophole and job done! But wait, that would drive away money/business and the collection of those nice fat brown envelopes....

[black tabby12345]

8 hours ago, Aussie999 said:

here we go again.... is this an attempt to draw attention away from Thaksin...or the Red Bull dude, or any number of issues.

 

A stupid smoke screen for distraction indeed.

They say doing this To Protect Thai's Employment and Business Opportunities. 

Reality: Some Thais lose their jobs(of informal employment) all of sudden because of the forced closure of their workplaces.

[SiSePuede419]

The immigrants are coming here and they're opening businesses employing Thai workers and they're murderers--of the English language --for example saying "zebra crossing" instead of "crosswalk" and they're rapists--ever met a Farang real estate agent who only marks up Thai real estate --because Farangs can't own land.

Some of them, I presume are Good People. 😳

[Purdey]

These blooming foreigners coming here and stealing the soil from poor Thais.

Send them back to where they came from (except me of course)

(S)

 😃

[madmitch]

20 years ago I set up a cmpany using Thai nominees. I had no idea that what I was doing wasn't legal but I think every year since then there has been a crackdown on the practice.

I closed the company long ago. I doubt I was ever on the radar of those policing this but who knows. In the digital age it should be quite easy to track farangs who appear to own 49% of a business and the rest being split across various Thai persons but I'm not sure Thailand has an easily accessible database ot its companies.

 

Looking forward to next year's crackdown already.

[kwilco]

10 hours ago, webfact said:

Image composite courtesy: MGR online

 

Thailand is taking decisive action against foreign businesses using Thai nominees to conduct operations within the country. The Commerce Ministry has unveiled a new plan spearheaded by Deputy Commerce Minister Napintorn Srisunpang.

 

This initiative aims to tackle illegal business practices that undermine local economic interests. The Ministry's subcommittee on nominee business prevention and suppression held significant discussions on Wednesday, bringing together several agencies to brainstorm strategies for identifying and prosecuting companies engaged in these unlawful practices.

 

Key representatives from several agencies attended, including the Department of Business Development (DBD), Department of Special Investigation, Central Investigation Bureau, Anti-Money Laundering Office (Amlo), Tourist Police Bureau, Immigration Office, Department of Employment, Department of Tourism, Department of Lands, and Revenue Department.

 

Together, they crafted a comprehensive strategy, proposing short-, medium-, and long-term measures for the cabinet's approval.

 

In the immediate term, existing laws will be utilised to scrutinise and take legal action against suspect businesses, explained Mr Napintorn.

 

Moving forward, the DBD plans to build an analytical system to detect nominee use by examining unusual business behaviour. This medium-term solution aims for completion in six months, adding an extra layer of vigilance by practising stricter law enforcement.

 

Looking to the future, the ministry is contemplating amendments to Amlo's laws, permitting the DBD to reject or cancel business registrations tied to money laundering risks. Proposed changes to the Foreign Business Act could increase penalties, hoping to deter nominee practices altogether.

 

Driven by numerous complaints against foreign businesses flouting Thai laws, the DBD is expanding its investigations. Particular attention is on online platforms, warehousing, and logistics sectors. The penalties for nominees could include imprisonment and hefty fines.

 

With this proactive stance, Mr Napintorn emphasised the government's determination to safeguard the Thai economy. He encouraged those involved in nominee practices to cease activities and cooperate with authorities, ensuring protection for compliant witnesses, reported Bangkok Post.

 

-- 2024-11-16

 

 

THis has been mooted several times before and enforcement has never worked in the long term - probably better to change the law to a more modern attitude.

[tomazbodner]

5 hours ago, UWEB said:

You don't need a Thai nominee to own a Condo.

Very true - except if you want a condo that's already over 49% owned by foreigners. To dig into Thai quota, you do. Technically you also don't need it for a house - you can own a house. Just not land under it.