A nominee shareholder arrangement occurs when a Thai national holds shares in a company on behalf of a foreigner in order to circumvent foreign ownership restrictions under the Foreign Business Act. Such arrangements are illegal under Sections 36 and 37 of the Act and can result in criminal penalties for both the Thai nominee and the foreign beneficiary. … Read More
Foreign Business Act
Thailand Proposes Landmark Reforms to Foreign Business Act to Attract Investment
Thailand is considering significant reforms to the Foreign Business Act that could remove licensing requirements for several service industries. The proposed changes may make it easier for foreign investors to operate software development, treasury centre and intra-group management businesses in Thailand without obtaining a Foreign Business License. … Read More
The End of the Filing Formality: Thailand’s New Front in Registration Scrutiny – Key Changes for Foreign Investors in 2026
For many years, the incorporation of Thai companies was regarded primarily as a routine compliance exercise. While Thai law has long prohibited nominee arrangements under the Foreign Business Act (FBA) and related legislation, substantive scrutiny of ownership structures often occurred … Read More
A Practical Guide to Joint Ventures in Thailand: Key Legal Considerations for Foreign Investors
Thailand’s strategic location and economic incentives make it an attractive destination for foreign investment. However, navigating its regulatory landscape requires careful planning, particularly when establishing a joint venture (JV), commonly referred to as a “Thai Majority Company”. This guide synthesises … Read More
Thailand’s Bold Leap: Proposed Foreign Business Act Amendments to Boost Competitiveness
Thailand’s Bold Leap: Proposed Foreign Business Act Amendments to Boost Competitiveness Thailand is taking a significant step towards a more dynamic and competitive economic future. Recent reports in the Bangkok Post and The Nation have highlighted the Cabinet’s approval in … Read More
Thailand’s Unprecedented Crackdown on Illegal Nominee Structures: Compliance Options
Thai authorities are executing their most aggressive campaign to date against illegal nominee structures used to bypass the Foreign Business Act (FBA). This multi-agency enforcement effort, widely reported by outlets such as the Bangkok Post, leverages powerful new data integration tools … Read More