Transcript of the above video: 

As the title of this video suggests, we are discussing recent news that a number of Chinese businesses - at least here in Bangkok - have been inspected again in furtherance of this campaign of scrutinizing nominee corporations in Thailand. 

I thought of making this video after reading a recent posting on X by Khao Sod English, that's @KhaoSodEnglish on X. Quoting directly: "Thailand's Ministry of Commerce has inspected five Chinese businesses in Bangkok's Huai Khwang District as part of a Crackdown on nominee shareholding arrangements and suspected money laundering activities. The operation, conducted jointly with several government agencies, targeted businesses considered at risk of using Thai nationals as nominees for foreign investors and facilitating suspicious financial transactions. Investigators found possible links to online gambling promotion at a prawn-fishing business and a mala restaurant, where customer payments were allegedly transferred to a foreign director's personal account. Another company operating from the same building as a spa business could not be inspected because it was closed at the time of the visit. Two other businesses showed no immediate signs of wrongdoing, while evidence gathered during the inspections will be analyzed further. Authorities said individuals found concealing criminal proceeds through financial transactions could face money-laundering charges and warned that both Chinese investors using nominees and Thai nationals acting on their behalf face criminal penalties under Thailand's Foreign Business Act."

Yeah look, as discussed in other videos, nominees are explicitly illegal pursuant to Thailand's Foreign Business Act. And again as discussed in other videos, not all of these inspections are yielding anything. There are ways to do business here in Thailand, legitimately utilizing a Thai partner, utilizing certain types of corporate structures. So, everything across the board is not precluded to foreigners but there are restrictions in Thailand and there seem to be increasing concerns associated with not only ownership, but tax issues associated with these type of structures. What was notable to me was the fact that as noted in the article, funds were transferred directly to one of the director's personal accounts. There are circumstances where that may be perfectly warranted and perfectly appropriate; again depending on the underlying facts in a given case. But in many circumstances where you are dealing with large lump sums of money routinely being moved to the foreign national’s name it's probably going to raise some red flags, suffice it to say. 

That said, as I have discussed in other videos, Thai Police are increasingly proactive, and they are increasingly assiduous in matters pertaining to these nominee structures in Thailand. I don't think that this is going to abate any time soon. If it even abates in high season remains to be seen, but that would be the earliest point at which I think we see any of this easing here in the Kingdom of Thailand.