Blitz paying off as 'at-risk' firms plunge
Officials of the Department of Business Development raid a firm in Koh Phangan district of Surat Thani, which was suspected of operating as a nominee business in October last year. Department of Business Development
The Commerce Ministry has vowed to intensify its crackdown on the illegal use of Thai nominees by foreign investors as part of a broader effort to protect fair competition and the country's economic interests.Its Department of Business Development (DBD) said nominee shareholding had become a long-standing problem that distorts market competition and disadvantages legitimate businesses operating in Thailand. The number of companies considered at risk of nominee arrangements had risen steadily over the past two decades, from 523 firms in 1998 to 11,746 in 2025.
As of June 23, there were 119,297 companies with foreign shareholdings of between 0.01% and 49.99%, a category regarded as vulnerable to nominee abuse.
Stricter screening has seen the number of newly registered firms considered at risk fall by more than 65% between January and May this year, compared with the same period last year.
