{"id":3178,"date":"2025-10-17T11:21:52","date_gmt":"2025-10-17T11:21:52","guid":{"rendered":"https:\/\/www.iuraslovakia.sk\/?p=3178"},"modified":"2025-10-17T12:17:39","modified_gmt":"2025-10-17T12:17:39","slug":"thailand-discusses-nominee-control","status":"publish","type":"post","link":"https:\/\/www.iuraslovakia.sk\/en\/legal-blog\/thailand-discusses-nominee-control\/","title":{"rendered":"Thailand tightens controls: Thousands of firms suspected of illegal \u201enominee\u201c structures."},"content":{"rendered":"
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Thailand tightens control of illegal nominee structures in companies. What are the risks for Slovak investors?<\/h1>\t\t\t\t<\/div>\n\t\t\t\t
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\u00a0<\/p>

Thailand has long been one of the most attractive destinations for foreign investment, particularly in the real estate and tourism sectors. However, foreign investors are subject to strict rules imposed by the Foreign Business Act (FBA), which restrict ownership in many key sectors.<\/p>

These restrictions have led to the widespread use of so-called. \u201enominee\u201c structures<\/b>, where Thai nationals formally hold a majority stake in the company on behalf of the beneficial foreign owner. Although this is a long-standing practice, Thai authorities launched an intensive nationwide crackdown in 2025 that is radically changing the situation.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Nominee structures are illegal in Thailand<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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It is crucial to stress: Using shareholder nominees to circumvent the FBA is illegal in Thailand and is considered a criminal offence.<\/b><\/p>

The latest moves by the Thai government show that the era of tolerance is over:<\/p>

  1. Mass Revelations on Koh Samui and Koh Phangan:<\/b> The Bureau of Business Development (DBD) has identified over 7000 suspects<\/b> companies that probably operate as nominee companies. Most of them operate in the real estate (condominiums), hotel and restaurant sectors.<\/p><\/li>

  2. Stricter Control:<\/b> DBD has revised its inspection criteria to focus on firms where foreign owners hold stakes in the range of 0.001 % to 49.99 %<\/b>. This new, more targeted approach is intended to ensure that the investigation focuses on real risk indicators, not just the formal compliance with the 51 % shareholding by Thai shareholders.<\/p><\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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    Radical tightening: nominee as a money laundering offence<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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    The most significant change with an immediate impact on foreign investors is Thailand's attitude towards nominee structures at the legislative level.<\/p>

    Under the Anti-Money Laundering Act (AMLA) Amendments of 2025, acting as a nominee for a foreign entity is considered predicate offence of money laundering<\/b>.<\/p>

    What does this mean for investors?<\/b><\/p>