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.

 

[mikebell]

'Acting on Information received'. 

Is there an address where I can send the name of the Thai audit company that helped my ex-wife defraud me of my house by altering the % of shareholders without my knowledge?

[ChaiyaTH]

And once again the true nature comes out, now they are getting desperate... Not seeing they will only damage their economy more because they simply depend on foreigners to do business here, to make it even better, they need way more of us.

Thais are not productive at all, neither do they bring the money on top of the fact they are in debt + not make enough children. It seems they steer this country to a direction with even more power by very few while they might get richer from it the overall country will suffer from it.

 

But wait, they actually do that everywhere same as the Food program already does a test project with Iris scan ID's for food stamps and more for illegal immigrants. You can be sure the dinosaurs here would love to do stuff like that with Thais.

They will soon all get this UBI from the BIS anyway. Winter is coming.

Edited 6 hours ago by ChaiyaTH

[Celsius]

14 minutes ago, Tropicalevo said:

 

No

 

 

 

 

You contradicted yourself with that quote.

[sungod]

11 minutes ago, mikebell said:

'Acting on Information received'. 

Is there an address where I can send the name of the Thai audit company that helped my ex-wife defraud me of my house by altering the % of shareholders without my knowledge?

I'm sure there is, whether they answer you is another thing.

[sungod]

23 minutes ago, Tropicalevo said:

 

No

 

 

 

I hate to tell you but houses are real estate, I used to have a house in a company name, the company was registered in the real estate sector, I think that's pretty common.

 

That said I don't think they are too bothered at the moment about individual dwellings.

[redwood1]

3 hours ago, ukrules said:

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

 

Well they do leave company owned houses in a gray area, where its not 100% legal.....So someday they could have quite the pay day taking farangs houses....

 

[Gottfrid]

4 hours ago, ukrules said:

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

Of course they do, if it´s in violation with the law. I have 2 properties connected to the company. One for business and one for living. They can´t touch it, as we pay rent to the company for the property for living and have a lot of business in the company. But, they will surely crack down on all that just put up a company to be able to almost own and control their house.

Edited 4 hours ago by Gottfrid

[Gottfrid]

1 hour ago, redwood1 said:

 

Well they do leave company owned houses in a gray area, where its not 100% legal.....So someday they could have quite the pay day taking farangs houses....

 

It can be legal, as long as you pay rent to the company, the company has active business as well as all incomes are shown as company profit after deductions at the end.

[142857]

What total fools they are. The don't seem to have noticed that there is a common factor in economic growth numbers in ASEAN, where Thailand is the lowest. They ask why does Vietnam, Cambodia, Laos, Indonesia and Malaysia grow faster? Well, Thailand is the one that restricts foreign ownership the most. Why take a good business to Thailand and give 51% to a nominee shareholder who may run off with the lot, if you can own 100% totally legally.

 

I am lucky, I have Thai children, others are not so lucky. The Thai education system is to blame here, too much nationalism in it blinds its poorly educated people into believing that we are some kind of threat to national security. On the contrary, we would love to bring our wealth to Thailand totally transparently, but the law makes that difficult to impossible. Lucky Indonesia, Malaysia, Cambodia and Vietnam, they must all be licking their lips at the stupidity of the Thai authorities!!!!

[black tabby12345]

4 hours ago, Dan O said:

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.

 

Unlike American colleges, Thais usually don't like Surprise Test.

[wensiensheng]

So out of more than 26,000 companies examined so far, 127 are seemingly dodgy.

Sufficient evidence of wrong doing to warrant a full blown crackdown using software yet to be developed and projected to be available in 6 months?

[wensiensheng]

4 hours ago, quake said:

 

Yes, Be a few expats changing soiled underware today. 

Don’t be ridiculous. These crackdowns are announced every six months or so. A few obvious trading entities that are really foreign owned will be confiscated because they get up the nose of local Thai businesses. One off house owning companies fly well under the radar because they do no harm.

[quake]

1 minute ago, wensiensheng said:

Don’t be ridiculous. These crackdowns are announced every six months or so. A few obvious trading entities that are really foreign owned will be confiscated because they get up the nose of local Thai businesses. One off house owning companies fly well under the radar because they do no harm.

 

They come out with this once a year, and nothing comes from it.

But they will come for you all,  one day. 

Good luck.

[Fairynuff]

3 hours ago, Tropicalevo said:

 

No

 

 

Correct me if I’m wrong but aren’t houses real estate?

[black tabby12345]

What makes them so keen to cut back  own people's employment opportunities?

If companies/shops are busted and face closure,  it is Thai workers that suffer most(for job losses).

Handing out some money  to the poor, but trying to create greater poverty on purpose at the same time.

This kingdom certainly cannot make up  for tens of thousands of workplaces once they are gone.

Once again, bureaucrats' Empty Pride is about to force  needless pain among the common people.

[1duckyboy]

"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."

 

What a silly game. This year 26,019 juristic persons scrutinized, 498 were investigated, 64 face accounting charges and a total of four companies "suspected" as nominees with no nominees found to be used by foreign enterprises. Looks like the crackdown is a success. Now on to the of crackdowns on prostitution and taxi mafia.

Edited 2 hours ago by 1duckyboy

[Aviatorhi]

And they told me I was stupid to only buy condos in the foreigner quota solely under my name. 🤣🤣🤣

[zepplin]

2 hours ago, redwood1 said:

 

Well they do leave company owned houses in a gray area, where its not 100% legal.....So someday they could have quite the pay day taking farangs houses....

 

Many lawyers on Samui have stopped setting up LTD companies for ferang to buy houses, while a lot of developers are selling their villas with a 30 year lease on the land , which is 100% legal! 
 

[hotchilli]

7 hours ago, webfact said:

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.

Another way to stop investment in Thailand.

[MPXX]

I had just contacted my Thai attorney and she said - that no need to worry the house in Thai nominee company is "for director's living"  and I am the director....

[AustinRacing]

Brown envelopes coming to BDB staff. Wonder how many government staff will pay a bribe to be investigators in the cases. Prosperous year for BDB staff in 2025. 

[quake]

4 minutes ago, MPXX said:

I had just contacted my Thai attorney and she said - that no need to worry the house in Thai nominee company is "for director's living"  and I am the director....

 

Not that easy, if they want to look at you.

You need to show a working company. 

That's when it gets tricky.

You have a fantastic Thai Attorney. give her a pay rise. 

Good luck. 

[AndreasHG]

41 minutes ago, 142857 said:

The Thai education system is to blame here, too much nationalism in it blinds its poorly educated people into believing that we are some kind of threat to national security

 

The only potential threat posed by foreign investors is to the social stability of the Kingdom, and the relationship between the local haves and the have-nots.

The Thai “haves” want to continue to control the economy and have access to cheap labor, such as cheap nannies, cheap maids, cheap drivers, etc.

That is why they want at least 51% Thai ownership of almost all businesses.

 

[Hugh Jarse]

Most Thais are thoroughly fed up with nominees setting up businesses for non Thais. The next step is to go after those who buy land for foreigners,although this would be an administrative nightmare for government bodies. If you don’t respect the law here,simply move.

in 

[ericbj]

On 10/31/2024 at 11:30 AM, Old Curmudgeon said:

 

 

Edited 1 hour ago by ericbj
Erroneous post, should be deleted