You’ve probably heard about the recent clampdown on foreign businesses operating illegally in Thailand, in Phuket in particular. Indeed, local police noted that there are in excess of 400 business operating as “nominee companies”.
But what exactly does this mean. How can a business that has been in operation for a long time be illegal in any way?
Well, for decades now there has been a way to circumvent the law, and it isn’t necessarily easily detected unless a considerable investigation of the business takes place. A business can have all the correct documentation, pay its taxes, employ its staff legally, but still have a structure that is illegal.
Adding to the layer of complexity is the fact that the business would have been set up with the help of a local lawyer, and with the knowledge of local government agencies. So what’s the deal here?
A Thai Nominee Company Setup
A Thai…
