Thailand’s Nominee Company Crackdown Produces Few Prosecutions

Thai authorities have reportedly identified nearly 47,000 companies considered at high risk of using nominee shareholders, but legal proceedings have begun against only around 852. The figure represents less than 2% of the businesses flagged and includes unresolved prosecutions rather than confirmed convictions or property seizures. The analysis argues that investigating every company would take decades because officials must trace funding, examine shareholders and prove each allegation individually in court. A June operation involving more than 500 personnel inspected 89 plots across Phuket, Phang Nga and Krabi, identifying 29 suspected nominee companies and another 48 with more foreign than Thai shareholders. The article predicts that Thailand will pursue selected high-profile offenders to encourage voluntary compliance rather than attempt to dismantle thousands of foreign-linked property structures at once.