Phuket to crack down on illegal foreign businesses using Thai nominees

1 Oct 21:26 Key points summarised by AI

Phuket authorities will establish a center to combat illegal foreign businesses operating through Thai nominees, following numerous complaints from local operators.
The Department of Special Investigation (DSI) will assist in tracing money trails and identifying true foreign owners, as many businesses are legally registered with Thai majority shareholders.
Over 200 companies, including massage parlours, restaurants, and tour agencies, are suspected of operating with foreign control, involving nationals from Russia, Germany, China, and others.
Thai nationals acting as nominees face severe penalties, including up to three years in jail and/or a one million baht fine, while foreign operators risk deportation and blacklisting.
This crackdown was initiated after a high-profile incident involving a Swiss national and aims to dismantle organized crime connections in sectors like real estate and integrated tourism.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.