The government is moving forward to crack down on foreigners using Thai nationals as “nominees” to hold shares and conceal business ownership, with intensified in-depth inspections starting 1 August.
On 24 July 2026, Ms. Lalida Pertwiwatthana, Deputy Spokesperson of the Prime Minister's Office, revealed that under Prime Minister Anutin Charnvirakul, the government is elevating measures to prevent and suppress the use of Thai individuals as disguised nominees in foreign-owned businesses. This aims to protect lawful business operators and promote fair competition. The new inspection measures will take effect from 1 August 2026.
The Deputy Spokesperson explained that the measures will upgrade inspections from reviewing basic information to analyzing in-depth data, including corporate registration, shareholder structures, financial statements, accountant details, and other relevant information. This will help classify risk levels and precisely identify companies that may be nominees, enhancing legal enforcement and minimizing impacts on legitimate businesses.
In cases where suspicious information or behavior arises, officials may request additional information from Thai shareholders or related parties, such as financial documents and bank statements, to confirm the source of investment funds and ensure consistency with declared shareholding proportions. Each case will be assessed individually based on evidence and facts.
The Deputy Spokesperson emphasized that these measures do not generalize foreign investors nor create obstacles for foreign investment. Instead, they use financial data and transaction trails to distinguish lawful business operators from those exploiting nominee structures to evade laws, thereby making enforcement more accurate, transparent, and fair.
“The government prioritizes creating a transparent and fair investment environment alongside serious law enforcement against offenders. This enhanced scrutiny will protect Thai entrepreneurs and honest investors, build confidence in the economic system, and ensure competition operates under uniform rules.”