I recceived the info below via email

I have a small business with the wife and currently we operate the business solely via her personal name. We were going to form a company later this year when my child is 12 yrs old. My wife, myself and my daughter were going to be shareholders. Now, should I not be a nominee shareholder to the proposed company? Its all rather confusing actually.....

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If you own or operate a business in Thailand through a company with Thai shareholders, stop scrolling. Read this.

 

On April 1, 2026, the Department of Business Development implemented mandatory in-person verification for company amendments involving foreign participation. Thai shareholders must now show up at the DBD in person, declare their monthly income, and sign forms that explicitly reference criminal liability under the Foreign Business Act and Criminal Code.

 

A secretary earning 15,000 baht a month claiming to have invested 2 million in your company? That inconsistency is now recorded on a government form, next to a warning about prison time.

 

The Numbers

782,000 active companies in Thailand. 118,000 with foreign investment between 0.01% and 49.99%. The DBD estimates 80% of those, roughly 94,000 companies, involve nominee arrangements. The January 2026 bank statement requirement already cut nominee registration attempts by 65%. April's rules close the amendment loophole.

 

This builds on January's measures. New company registrations already require Thai shareholders to produce three months of continuous bank statements proving genuine financial capacity. The April rules extend that scrutiny to amendments of existing companies: share transfers, director changes, capital increases. The loophole where you register a 100% Thai company and later sneak in a foreign director is gone.

 

Enforcement is not theoretical. In March, the DBD ran on-site inspections in Pattaya, revoked four tour company licences, and flagged 146 foreign entities in Chon Buri for further investigation. Fruit-packing companies in Ratchaburi. A cannabis farm in Krabi. Luxury villas on Koh Phangan. The sweep is nationwide.

 

Penalties: up to three years in prison, fines from 100,000 to 1,000,000 THB, forced dissolution, asset seizure, deportation. Thai nominees face the same.

 

Property bought in company name (i.e. 49% foreigner most likely), condos, houses would be part of this presumably

You would not be a nominee, you would be a real shareholder. As would your wife and daughter, there is no problem doing that, and you don’t have to wait until your daughter is 12 years old.

Assuming this is a real trading company, go ahead and do it.

13 minutes ago, scubascuba3 said:

Property bought in company name (i.e. 49% foreigner most likely), condos, houses would be part of this presumably

And presumably a few nervous farang.

Yeah, it's starting to look like this game is over. I watched a video on it (below) the other day and they are applying AI to this search of records and comparing the nominee's financial situation to the company's start-up fees and operations... if it doesn't look plausible, then you are toast. Also, they give no warning etc, the company is just disolved there and then and any property is flagged for a visit from immigration/cops. Once the company is disolved, then everything that it owns is no longer yours or the nominee's... belongs to the state. Seems like load of people are getting caught out by this and it's not pretty... will only get worse IMO. Looks like an easy money grab to me, as you know they are skint.

Just found the video, have a watch of this... scary stuff really:

Getting to the point where the only way now is to be officially married to a stable woman and have her hold stuff in her name, or buy a condo, which has it's own issues. The company route is over... yes, you can do the leasing stuff, but that's a headache in my opinion and who know what they will change at some point on that.

Edited April 28Apr 28 by Sir Dude
Tidying up and typos.

37 minutes ago, emptypockets said:

And presumably a few nervous farang.

Yep, what the authorities should do is increase the foreign quota allowable to 75% rather than subtly encouraging foreigners to go the illegal route

Edited April 28Apr 28 by scubascuba3

4 hours ago, Sir Dude said:

ust found the video, have a watch of this... scary stuff really:

It is scary........if it is all true. No real backup for some of his information which is not to say it should be ignored if you are in that situation.

However I am not convinced that multitudes of foreigners have been kicked out and left homeless already which is sort of what he implies? If so I think there would have been news articles in the foreign language press by now?

Here is a press link to some of the changes -

https://www.pattayamail.com/latestnews/news/thailands-nominee-crackdown-in-2026-a-turning-point-for-foreign-investment-546095

4 minutes ago, topt said:

It is scary........if it is all true. No real backup for some of his information which is not to say it should be ignored if you are in that situation.

However I am not convinced that multitudes of foreigners have been kicked out and left homeless already which is sort of what he implies? If so I think there would have been news articles in the foreign language press by now?

Give it time.

There have been many stories previously about people losing the lot.

Edited April 28Apr 28 by emptypockets

5 hours ago, Sir Dude said:

Yeah, it's starting to look like this game is over. I watched a video on it (below) the other day and they are applying AI to this search of records and comparing the nominee's financial situation to the company's start-up fees and operations... if it doesn't look plausible, then you are toast. Also, they give no warning etc, the company is just disolved there and then and any property is flagged for a visit from immigration/cops. Once the company is disolved, then everything that it owns is no longer yours or the nominee's... belongs to the state. Seems like load of people are getting caught out by this and it's not pretty... will only get worse IMO. Looks like an easy money grab to me, as you know they are skint.

Just found the video, have a watch of this... scary stuff really:

Getting to the point where the only way now is to be officially married to a stable woman and have her hold stuff in her name, or buy a condo, which has it's own issues. The company route is over... yes, you can do the leasing stuff, but that's a headache in my opinion and who know what they will change at some point on that.

5 hours ago, Sir Dude said:

Yeah, it's starting to look like this game is over. I watched a video on it (below) the other day and they are applying AI to this search of records and comparing the nominee's financial situation to the company's start-up fees and operations... if it doesn't look plausible, then you are toast. Also, they give no warning etc, the company is just disolved there and then and any property is flagged for a visit from immigration/cops. Once the company is disolved, then everything that it owns is no longer yours or the nominee's... belongs to the state. Seems like load of people are getting caught out by this and it's not pretty... will only get worse IMO. Looks like an easy money grab to me, as you know they are skint.

Just found the video, have a watch of this... scary stuff really:

Getting to the point where the only way now is to be officially married to a stable woman and have her hold stuff in her name, or buy a condo, which has it's own issues. The company route is over... yes, you can do the leasing stuff, but that's a headache in my opinion and who know what they will change at some point on that.

Another comment before you said ''You would not be a nominee, you would be a real shareholder. As would your wife and daughter, there is no problem doing that, and you don’t have to wait until your daughter is 12 years old.

Assuming this is a real trading company, go ahead and do it.''

do you agree? Should I not have a problem if doing a proper company with my wife and daughter where we are all shareholders?

Time to move on have had a good 20 years bere but at the day if you no longer feel welcome there are more welcoming countries . I’ve owned several companies never had a problem and to be honest this will end up as a u turn it will take years to get it in motion without we foreigners investing our money the country will suffer with a weak economy

18 hours ago, advancebooking said:

I have a small business with the wife and currently we operate the business solely via her personal name. We were going to form a company later this year when my child is 12 yrs old. My wife, myself and my daughter were going to be shareholders. Now, should I not be a nominee shareholder to the proposed company? Its all rather confusing actually.....

Why not keep it simple for yourself and open a Limited Partnership? Especially if it's with your wife, this is an ideal, easy setup. No need for multiple shareholders. You could still apply for a work permit, accounting is simpler and cheaper and you can do a 51-49 share. Any family can be added as employees, of which you only need 2 for a work permit application. And they wil be able to enter the social security system.

20 hours ago, advancebooking said:

I have a small business with the wife and currently we operate the business solely via her personal name. We were going to form a company later this year when my child is 12 yrs old. My wife, myself and my daughter were going to be shareholders. Now, should I not be a nominee shareholder to the proposed company? Its all rather confusing actually.....

You can easily form a Thai company limited, but a foreigner can only own 49% of the shares.

With the latest adjustments you only need 2 shareholders – another possib ility is a limted lartnership with your wife – but the Thai shareholder(s) might need to show proof of the money they invest in shares. Your need a registered capital of not less than 2 million baht if the company shall have a work permit for a foreigner. However, for being director – i.e., member of the board – you don't need a work permit, but cannot do any physical work in the company other than board meetings and signatures.

A minor can be shareholder, your child don't need to be 12 years old. My daugter became shareholder in a Thai company limited when she was 4 years old.

Illegal nominee shareholders were the names placed, in the sharholder list, often done by a lawyer when establishing the company – mainly back when a Thai company limited needed 7 shareholders – with could be folks like the clerck or cleaning lady in the law office. A copy af their ID card was all needed back then. The foreign owner got blank signed transfer documents for their share-holdings and a power of attorney for votes. About 15 years ago it changed to 3 shareholders and excisting companies got a timeframe to change nominees to real shareholders that had funds for their investment in shares. However, there might still be companies with nomine shareholders.

20 hours ago, Sir Dude said:

Yeah, it's starting to look like this game is over. I watched a video on it (below) the other day and they are applying AI to this search of records and comparing the nominee's financial situation to the company's start-up fees and operations... if it doesn't look plausible, then you are toast. Also, they give no warning etc, the company is just disolved there and then and any property is flagged for a visit from immigration/cops. Once the company is disolved, then everything that it owns is no longer yours or the nominee's... belongs to the state. Seems like load of people are getting caught out by this and it's not pretty... will only get worse IMO. Looks like an easy money grab to me, as you know they are skint.

Just found the video, have a watch of this... scary stuff really:

Getting to the point where the only way now is to be officially married to a stable woman and have her hold stuff in her name, or buy a condo, which has it's own issues. The company route is over... yes, you can do the leasing stuff, but that's a headache in my opinion and who know what they will change at some point on that.

My views too- the nominee scenario has had its day and a lot of foreigners need to act now or wake up to a nightmare one day

22 hours ago, advancebooking said:

I recceived the info below via email

I have a small business with the wife and currently we operate the business solely via her personal name. We were going to form a company later this year when my child is 12 yrs old. My wife, myself and my daughter were going to be shareholders. Now, should I not be a nominee shareholder to the proposed company? Its all rather confusing actually.....

Family members owning shares in the family company can never be considered nominees

Impossible to get a real figure but I reckon a large percentage of businesses in tourist hotspots are run this way with illegal nominees.

I also struggle to imagine how these places would be without these businesses. Pubs, interesting cafes, gyms etc. It would be fried rice as far as the eye can see.

Edited April 29Apr 29 by sikishrory