The government is enhancing company registration checks. In cases where foreigners invest, they must submit bank statements for the past three months. This closes loopholes preventing Thais from acting as nominees for foreigners. The measures will begin on 1 August.
On 1 August 2026, Ms. Lalida Pertwivatana, Deputy Spokesperson of the Prime Minister's Office, revealed that the government is advancing efforts to prevent Thais from acting as covert nominees in business operations. The Department of Business Development, Ministry of Commerce, issued Order No. 2/2569 expanding verification from just company registration to include changes in shareholder and director structures after registration. This closes loopholes where company structures pass initial screening but later change shareholders or authorized signatories. The measures take effect on 1 August 2026.
The Deputy Spokesperson explained that the new rules require foreign investors or authorized signatories to submit an investment explanation letter along with bank statements from the past three months of the Thai investors who paid the investment and the representatives or legal entities receiving the investment payment. This is to verify the source of investment funds and the genuine ability to invest, increasing transparency in business registration and preventing improper use of others to hold shares.
Ms. Lalida said the key point is expanding verification to cover the entire corporate lifecycle, not just the company registration date, but also changes in shareholders, directors, or authorized signatories, which could otherwise be used to evade previous measures. The government aims to ensure fair business competition and protect honest entrepreneurs, not to restrict foreign investments conducted lawfully.
Furthermore, the government is linking data between the Department of Business Development, Department of Lands, and related agencies to enhance verification efficiency, prevent companies from being used illegally to hold land, and verify shareholder identities through civil registration databases. From 1 August 2026 onward, the Department of Business Development will add clarifying notes on shareholder list copies to inform the public that these documents are records held by the registrar, not certificates of current shareholder status, which must be confirmed from the company’s shareholder register as required by law.
The Deputy Spokesperson added that currently, Thailand has over one million active legal entities and 119,116 companies with foreign shareholders holding up to 49.99%. This data is only for risk assessment and screening and does not imply all such companies are nominees or lawbreakers. Actions will be based on evidence and facts on a case-by-case basis.
“The government reaffirms its commitment to promoting a transparent, fair, and competitive investment environment, facilitating both Thai and foreign investors who operate legally, while preventing the use of Thais as covert nominees and actions that exploit the country’s economic system, thereby building long-term confidence among businesses and the public,” the Deputy Spokesperson concluded.