According to the National News Bureau of Thailand, the Commerce Ministry is set to launch an inspection on foreign shareholding in the country within a month’s time. I will first give you the news published by the NNT and then tell you what to do about email@example.com if you need more information about this matter
The Department of Business Development Director-General Banyong Limprayoonwong said that the Commerce Ministry has been drafting a set of regulations on the management and the inspection of foreign shareholding in Thai companies, in a bid to more strongly enforce the Alien Business Law of Thailand. He said that the Department is set to make the term “Nominee” more definite and clarified, while looking more thoroughly at the amount of shares held, the influence of foreign shareholders and other policies of the company. According to Mr. Banyong, there are more than 27,000 companies with foreign shareholdings, all of which will be scrutinized by the Department of Business Development. He stated that any company found to be in violation of the laws will face further investigation by the Department of Special Investigation.
What should you do about it?
Over the years they had been several such announcement of crackdown on foreign shareholders but it never amounted to much so far. But the truth is that it suffice of one time and many foreign investors in Thailand might find themselves in hot water (and there Thai nominees as well)
So what should you do? I would be tempted to tell you probably nothing but the fact is that it may be for real this time and I would have eggs all over my face and you could be in deep trouble. I would if you are in the situation of a company that has Thai shareholders who can be deemed as nominees to implement my structure called Orouboros and which look like that.
Note that for the four next week I will offer a 10,000 THB discount on the structure.
Do not hesitate to contact me firstname.lastname@example.org if you need more information on this matter
Originally posted 2012-07-21 18:15:30.