Key facts
- Deputy Commerce Minister Napintorn Srisanpang said the ministry aims to eliminate nominee structures within six months.
- The Commerce and Interior ministries are jointly examining roughly 46,000 companies across six sectors.
- Provincial governors were ordered to lead task forces checking companies against the Foreign Business Act.
- The Commerce Ministry is working with the Anti-Money Laundering Office to treat nominee activity as a financial crime.
- A bill drafted by the Council of State is expected to go to the cabinet within two months.
Thailand's Ministry of Commerce has broadened a crackdown on companies suspected of being Thai nominee structures that hold land and businesses for foreign nationals. The Ministry of Commerce and the Ministry of Interior are examining about 46,000 companies across six sectors, and provincial governors have been ordered to lead inspection task forces checking compliance with the Foreign Business Act. Deputy Commerce Minister Napintorn Srisanpang set a target of eliminating such entities within six months.