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Samui, Pha-ngan first targets in nominee firm crackdown

Samui, Pha-ngan first targets in nominee firm crackdown

12 Sept 23:59 Key points summarised by AI
  • Thailand's Department of Business Development (DBD) and Department of Special Investigation (DSI) launched a crackdown on foreign-controlled companies using Thai nominees, initially targeting Samui and Pha-ngan islands.
  • The initiative stems from numerous complaints by Thai firms about unfair competition and foreign investors disrespecting local laws, prompting a prime ministerial order for enforcement.
  • DBD screened over 11,000 companies in Samui and Pha-ngan, with plans to expand the crackdown to other major tourist hubs like Phuket, Pattaya, Hua Hin, Krabi, and Phang-nga, where foreign investment is significant.
  • The DSI is proposing legislation to classify the use of Thai nominees as a money laundering offense, which would enable authorities to seize assets from convicted offenders.
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