Thailand Cracks Down on 'Zombie Firms' Registered Under Foreign Names in Nakhon Phanom

The Thai Ministry of Commerce has launched a crackdown on suspected 'zombie firms' effectively controlled by foreigners. In Nakhon Phanom province, the Ministry of Commerce, in collaboration with the Immigration Bureau and local administration, has initiated investigations into seven companies suspected of improperly registering residents' addresses. These companies are alleged to be involved in 'nominee' arrangements to facilitate foreign business activities or to be non-operational 'zombie firms'. This measure aims to prevent illegal foreign involvement in business activities within Thailand and maintain a healthy market environment. In recent years, cases of foreigners registering Thai citizens as nominal representatives (nominee shareholders) when conducting business in Thailand have become a concern, prompting the Ministry of Commerce to strengthen its oversight of such fraudulent practices. The series of investigations in Nakhon Phanom province is part of this effort. If found guilty, these companies will have their business licenses revoked, and related individuals will face legal consequences. Source: MGR Online (Regional)