National —
On November 27th, 2024, Deputy Commerce Minister Napintorn Srisunpang outlined a nationwide strategy to address illegal nominee businesses in foreign-owned firms, aiming to mitigate economic damage within 21 months.
The plan, divided into short-, medium-, and long-term phases, was developed in collaboration with relevant agencies. The crackdown targets five high-risk sectors: tourism, real estate, transportation, warehousing, and agricultural land trading.
Investigations will prioritize major tourist hubs like Bangkok, Phuket, and Chiang Mai, as well as agricultural areas such as Rayong and Chanthaburi, where foreign nationals are suspected of leasing land for tropical fruit farming in violation of laws.
The government plans an aggressive inspection campaign starting in December, focusing on nominee businesses that dominate key industries and cause significant economic harm.
Thai authorities aim to enhance collaboration, improve legal frameworks, and expand anti-money laundering regulations to include nominee-related violations. For example, the Anti-Money Laundering Office (AMLO) is working on new regulations to seize assets linked to such cases.
The Ministry of Commerce has also established a complaint center to streamline reports and evidence gathering.
Given their extensive economic impact, Napintorn highlighted tourism, real estate, and transportation as the most concerning sectors. He also emphasized a long-term strategy to amend laws, improve screening processes with the help of law and accounting firms, and prevent the emergence of new nominee entities.
This article originally appeared on our sister website The Pattaya News.
