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Thailand’s nominee problem has long been discussed in hushed tones at expat dinners and property expos, with some less scrupulous agents offering various means of holding land, including nominee companies and the infamous, and illegal, 30+30+30 lease. In a recent
This guidance is intended for foreign nationals and Thai nationals who are the subject of a formal investigation into alleged nominee shareholding arrangements. Such investigations are conducted under the Foreign Business Act B.E. 2542 (1999) and, increasingly, in coordination with
Since 1 January, 2026, the Department of Business Development (DBD) has enforced a series of administrative orders that systematically dismantle the era of passive nominee shareholding[reference:0]. This shift from form-based to substance-based verification fundamentally alters how companies are registered, amended,
In many Thai corporate disputes, the share register is not the end of the inquiry; it is the beginning. While company records formally identify shareholders, Thai courts do not consider these records conclusive when surrounding evidence suggests a different operational
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
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
