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Thread: Thai Nominee Shareholding Crackdown in Pattaya announced by DSI

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    Thai Nominee Shareholding Crackdown in Pattaya announced by DSI

    Thai Nominee Shareholding Crackdown in Pattaya announced by DSI | Pattaya One ? Pattaya News, Thailand News, World News, updated 24 hours a day

    On Friday at Nong Nooch Gardens in Jomtien, a meeting led by the Department of Special Investigations (DSI) was held to discuss plans to begin a crackdown on foreign business people who use Thai Nominee Shareholders to effectively control Thai companies.At the meeting were over 100 delegates from the DSI, The Ministry of Commerce, Tourism Authority of Thailand and representatives from the public and private sector. They gathered to discuss how some Foreign business operators have exploited the Thai Nominee Shareholding loophole for many years, despite it being illegal under the Foreign Business Act of 1999.
    The DSI would now like to see this loophole closed and investigations started on companies which use Thai Shareholders but are effectively controlled by Foreign Nationals.
    They are particularly concerned with businesses associated with Tourism and at the meeting discussed how departments can cooperate better in the future to ensure these companies are detected and prosecuted if found to be in contravention of Thai Law.

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    Senior Member Thin White Duke's Avatar
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    Dammit there goes Shark Club

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    ...and plenty of others I would think.

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