Transcript of the above video: 

As the title of this video suggests, we are discussing a, well what's being reported as a recent crackdown regarding nominee businesses here in Thailand. I thought of making this video after reading a recent article from the Bangkok Post, bangkokpost.com. I'm going to go ahead and mark this as an ALERT because for those who are doing business in Thailand, this could be big news. 

So that said, quoting directly, the article is titled: 1,000 arrests made in crackdowns on proxies, Bangkok Post, bangkokpost.com, quoting directly: "More than 1,000 Thai and foreign nationals have been rounded up in a joint operation by Police and Commerce Ministry Authorities for the use of Thai nominees by foreign businesses over the past few weeks, authorities said on Wednesday. The investigation has targeted 442 companies with more than 3.6 billion baht in circulation in 46 locations.." - and this is really important - "..442 companies with more than 3.6 billion baht in circulation in 46 locations across the country." It's no longer where they are sort of focusing like on one province or something like this. Thanks to digitization, they now have the capability to see this stuff on a much broader scale than they once did. Quoting further: "said Pol Lt Gen Jirabhop Bhuridej, Commissioner of the Central Investigation Bureau. The Police Anti-economic Crime Division, a unit of the CIB, took part in the operation along with officials from the Department of Business Development (DBD) at the University of Commerce, he said." 

This is a really important thing here in Thailand insofar as those who do business here in Thailand who are utilizing structures in order to maintain Work Permits and Visas in order to maintain a business operation here in Thailand. Again, as we have discussed in other videos, there are restricted occupations in Thailand and there are restricted corporate objectives here in Thailand that are restricted specifically to Thais. Now there are those that may set up some sort of again, nominally legal structure, but utilize nominee shareholders i.e. shareholders that are just effectively front men effectively, they're not really in the business, they are not really maintaining shares, they are just there for legal formalities. Again, they are cracking down on this and they are cracking down hard. And again, this is something to take note of because again thanks to digitization, we're no longer talking about this in a more localized way. We're talking about this possibly throughout the country. Now exactly how this is going to play out remains to be seen. We will certainly be keeping you updated on this channel as this situation evolves.