Siam Legal Phuket Advises on Thailand Crackdown After Chon Buri Nominee Firms Shut Down
Siam Legal International, a law firm based in Phuket, is advising foreign investors on the legal implications of Thailand's intensified enforcement against nominee structures. This follows the shutdown of four companies in Chon Buri province suspected of using Thai nominee shareholders to bypass foreign ownership restrictions under the Foreign Business Act. The Department of Business Development, along with other government agencies, ordered the closure of these companies, which were allegedly controlled by foreign interests through indirect shareholding arrangements. The enforcement action included revoking licenses for tour operators that did not meet statutory director requirements, with additional real estate-related entities under investigation. Omar O Manee, Attorney-at-Law at Siam Legal International, emphasized the importance of compliance with Thai law, as violations could lead to criminal penalties, business closure, and asset seizure. 
