DBD to Investigate 27,000 Thai Nominee Businesses in 2025

[webfact]

Picture courtesy: Siam Rath

 

The Thai Department of Business Development (DBD) is set to investigate a staggering 27,000 juristic persons next year as part of its intensified crackdown on the use of Thai nominees by foreign enterprises.

 

This move is a response to mounting complaints from local businesses and collaborations with various agencies, noted Auramon Supthaweethum, director-general of the DBD.

 

The focus will be on sectors such as tourism, real estate, hotels and resorts, transport and logistics, as well as e-commerce and warehouses. The department aims to scrutinise the registration and financial integrity of Thai partners before they became juristic persons within these companies.

 

The DBD will examine shareholding structures, executive powers, voting rights, and dividend allocations to pinpoint irregularities.

 

To enhance detection, the DBD is developing an Intelligence Business Analytic System. This tool, projected to be ready within six months, will analyse the operational behaviours of juristic persons and assess the risk of them being used as nominees.

Auramon emphasised that the probe will not be restricted to the initial targets. Any entities facing allegations regarding non-compliance with the Foreign Business Act will also be under the spotlight.

 

This year's efforts saw the DBD scrutinising 26,019 juristic persons across sectors like tourism and logistics. Out of these, 498 were thoroughly investigated.

 

While 371 were cleared, 64 faced charges over accounting issues and 63 remain under further investigation, with four companies suspected of acting as nominees.

 

As the DBD intensifies its scrutiny, businesses may need to adapt to ensure compliance, signalling a significant shift in Thailand's economic landscape as authorities seek to strengthen the integrity of Thai business operations, reported Bangkok Post.

 

-- 2024-11-25

 

 

[ukrules]

They're coming for your company held houses aren't they? All of them.

[Dan O]

In typical Thai fashion you announce your intention to investigate far enough in advance so the funds can be hidden and the Thai culprits can clean up their act and the offending officials can have enough time to distance themselves to be a non issue.

[quake]

57 minutes ago, ukrules said:

They're coming for your company held houses aren't they? All of them.

 

Yes, Be a few expats changing soiled underware today. 

[Tropicalevo]

2 hours ago, ukrules said:

They're coming for your company held houses aren't they? All of them.

 

No

 

3 hours ago, webfact said:

The focus will be on sectors such as tourism, real estate, hotels and resorts, transport and logistics, as well as e-commerce and warehouses.