Thai police raid 18 locations in Chiang Mai to crack down on companies operating under foreign names

As part of a nationwide process to crack down on illegal businesses operating under foreign names in Thailand, police and government officials raided 18 locations in Chiang Mai on July 20, targeting 31 companies linked to property ownership estimated to be worth approximately 633 million baht, according to Thai Enquirer. Authorities stated that after inspecting over 33,000 registered companies in the district, 31 companies were identified as suspected of violating the law on foreign businesses. Among these companies, 16 are suspected of using Thai nationals as nominal shareholders, while the remaining 15 are companies controlled by foreigners who are accused of exceeding the legally stipulated ownership limits by owning 29 plots of land spanning nearly 8 acres. Furthermore, the Thai police, based on arrest warrants for 22 suspects including Chinese, Myanmar, Indian, British, and Thai nationals, managed to apprehend 5 suspects (2 Indian nationals and 3 Myanmar nationals) during the raids. Investigators stated that many Thai nationals listed as shareholders told the police that they were unaware their names were being used for company registration, while some admitted to receiving a small amount of money and providing copies of their identification documents or signing documents. Thai authorities have stated that investigations are being expanded to identify the masterminds and beneficiaries behind this network of nominal companies.