Legal Services & Resources 

Setting up a Company using Thai nominees is illegal in Thailand and can be avoided by American nationals who can avail themselves of the Amity Treaty which permits 100% ownership of a company.

The Thai Cabinet is considering amendments to some business categories in the Foreign Business Act, which may not be approved especially after the recent incidents involving foreigners flouting certain laws in Thailand.

Thai Authorities are cracking down on companies using nominee structures, but there are also legal alternatives which could be discussed with a lawyer in order to ensure that one's company is set up in compliance with the law.

Doing business in Thailand is not the same as in past times whereby nowadays, Thai Law Enforcement is carrying out regular crackdowns which make it more difficult for illegal setups to remain unnoticed.

Although in many instances legitimate Preference Share Corporations are possible, oftentimes there are instances where a Thai shareholder has no involvement in the company in any way which may not pass any scrutiny.

Foreigners who require legal services in Thailand should avoid lawyers who recommend utilizing nominee setups, especially to buy land as both acts are not legal under Thai law and could lead to negative consequences.

Banking in Thailand used to be fairly straightforward, whereas nowadays, in an effort to get rid of mule accounts, financial tracking protocols have been tightened and financial privacy is disappearing.

Thai Authorities are intensifying crackdowns on illegal businesses with the aid of AI and digital tools, which makes it very necessary to ensure that one's business is in compliance so as to avoid any future issues.

The US-Thai Amity Treaty does allow American nationals to own their businesses outright, but due to recent crackdowns on nominee companies, authorities are looking closely at Corporate Registered Capital.

There are legal avenues in Thailand which allow for a foreign national to own a business in Thailand such as under the Foreign Business Act or by obtaining a concession from the BOI, which is discretionary.