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Thais warned against becoming foreigners’ nominees in businesses reserved for Thai nationals

Thais warned against becoming foreigners’ nominees in businesses reserved for Thai nationals

29 Sept 17:35 Key points summarised by AI
  • Thai nationals acting as nominees for foreigners in businesses reserved for Thais face severe penalties, including up to three years in prison and/or fines ranging from 100,000 to a million baht.
  • The Business Development Department is collaborating with the Labour Ministry to scrutinize businesses with foreign partners, requiring Thai co-investors to prove genuine financial resources to prevent nominee arrangements, especially in restricted sectors like food and drink sales.
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