Thailand Reports Major Drop In High-risk Nominee Business Filings

https://youtube.com/shorts/-On6zuSzl4I?feature=share

Thailand Reports Sharp Drop in New High-Risk Nominee Business Registrations

Thailand’s Commerce Ministry says a reported 75% decline applies specifically to newly registered companies classified as being at high risk of nominee arrangements rather than to all nominee businesses nationwide. Between August 1 and 20, authorities recorded 141 new high-risk entities compared with 561 during the same period last year, representing a reduction of 420 registrations. Officials have strengthened checks before companies are registered by comparing shareholder and controller information with databases involving State Welfare Card holders and suspected mule accounts. More than 50,000 existing companies considered potentially risky have also been forwarded for further examination, alongside inspections in 46 areas across 13 provinces involving cooperation between 23 agencies. Foreign-linked companies that later alter their shareholders, directors or authorised signatories may now face additional scrutiny, including requirements to explain investment sources and provide three months of bank statements.