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Home»Business»PHUKET AUTHORITIES INVESTIGATE FOREIGN-OWNED COMPANIES FOR “ILLEGAL PRACTICES”
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PHUKET AUTHORITIES INVESTIGATE FOREIGN-OWNED COMPANIES FOR “ILLEGAL PRACTICES”

Ashley WingsBy Ashley WingsMarch 21, 2024Updated:September 25, 2024No Comments13 Views
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The authorities in Phuket are continuing their investigation into foreign-owned businesses, checking for those who

The authorities in Phuket are continuing their investigation into foreign-owned businesses, checking for those who may be skirting the law and using Thai nominees. This includes people that have set up Thai companies for the sole purpose of being able to gain ‘ownership’ and control of Thai land. Whilst the practice has been a common ‘work around’ for decades, it has recently come under a lot more scrutiny.

Phuket police are currently focusing on vehicle and property rental firms during recent investigations and raids. Suraphong Thanomjit, Region 8 Police Commander, is leading the investigation, which is looking into foreigners who may be using Thais as “stand-ins” and nominees to satisfy legal requirements.

A number of vehicle rental businesses in the northern sub-district of Srisoonthorn have been investigated. It’s understood officials suspect some foreign nationals may have formed businesses with Thai citizens as nominal shareholders, later transferring shares to foreign nationals and employing foreign workers illegally.

According to the report, the authorities are investigating shady practices in vehicle and long-term property rental, in addition to vehicle and property ownership. A number of foreign nationals are also suspected of encouraging their friends and family to move to Thailand in order to expand their businesses.

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Ashley Wings

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