Hundreds of Phuket firms face fresh ownership checks
Thai officials are investigating whether a suspected nominee network is using naturalised citizenship to disguise foreign ownership of businesses in Phuket and several other provinces. The Interior Ministry has ordered checks on more than 100 Phuket companies and a wider list of 361 firms nationwide, following a raid on August 6 that saw eight locations … The story Hundreds of Phuket firms face…
Over 100 Phuket businesses, part of a suspected nominee network, are under investigation by Thai officials for potential foreign ownership and citizenship fraud. The Interior Ministry has ordered checks on these firms, following a raid on August 6 that saw eight locations searched and eight people prosecuted. Deputy Interior Minister Polapee Suwunchwee expressed concern over the pattern, stating it could be a new security threat impacting economic resources and sovereignty.
Some business owners hold Thai ID cards despite being foreign-born and having recently naturalised. The investigation includes tracing the source of founding capital and the citizenship process of the shareholders. The investigation extends beyond Phuket, with 361 companies nationwide under examination. The government is considering rewriting investment and naturalisation laws to address the issue.
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