DBD, DSI target nominee firms on resort islands, plan Phuket expansion
DBD, DSI target nominee firms on resort islands, plan Phuket expansion — confirmed details at this stage for Phuket readers.
Thailand’s Department of Business Development and the Department of Special Investigation launched a crackdown on suspected nominee businesses on May 11, starting with a scan of 11,426 companies on Koh Phangan and Koh Samui and setting up an expansion to Phuket and other tourism hubs. Officials said the operation targets cases in which foreigners allegedly use Thai shareholders as fronts to hold businesses illegally.
Scan of 11,426 firms to sort high-, medium- and low-risk cases
DBD Director-General Poonpong Naiyanapakorn said the two agencies agreed to begin deep inspections on Koh Phangan and Koh Samui first after complaints linked some foreign business networks to improper use of Thai resources and lawbreaking.
The 11,426 companies identified in the two Surat Thani islands will be classified into high-, medium- and low-risk groups. Investigators will set a timetable for checks by starting with the highest-risk firms, then moving down the list.
Officials said teams are also ready to move immediately on public complaints when evidence is clear.
More than 20 agencies to join enforcement across key destinations
The operation will draw in more than 20 partner agencies to investigate and enforce the law under their respective mandates. Authorities said that multi-agency approach is intended to build stronger cases and support prosecution on multiple offences.
After the first phase, inspections will be extended to Phuket, Krabi, Phang Nga, Pattaya and Hua Hin. Officials said the wider campaign is aimed at blocking illegal foreign capital, tax evasion, concealed funding sources and financial transactions that may be linked to money laundering.
Authorities also said nominee structures can distort competition, reduce state revenue collection and undermine confidence in Thailand’s business regulation system. They said the practice can also shut Thai small and medium-sized businesses out of sectors reserved by law.
Source: https://www.prachachat.net/breaking-news/news-2004909
