The Thai government has sounded a clarion call, urging citizens to steer clear of becoming nominees in businesses with foreign investors, especially those in the tourism sector. This stern warning comes as a response to growing concerns about foreigners maneuvering their way into sectors they are legally restricted from owning, potentially leading to dire legal consequences for the unwitting participants. The penalties for being a nominee can be quite severe, including imprisonment, hefty fines, asset confiscation, and the loss of business licenses. Deputy Government Spokesperson Anukul Pruksanusak highlighted a troubling trend: numerous Thai nationals are unknowingly or willingly being used as cover-ups or nominees by foreign entities to illegally operate businesses within the Kingdom of Thailand. This practice blatantly flouts the Foreign Business Act of 1999, which strictly limits foreign ownership in specific sectors unless explicitly permitted by law. The Department of Business Development (DBD) has underscored how nominee schemes…
