A recent crackdown in Phuket, Thailand resulted in the arrest of over 200 individuals, including 98 foreign nationals mostly from Russia, who were using Thai nominees to illegally operate businesses reserved for Thai citizens. The operation, known as “Operation Nominee,” aimed to put an end to the practice of using nominees to circumvent ownership laws in the country.
The crackdown comes as part of a larger effort to enforce regulations on foreign investment in Thailand, particularly in popular tourist destinations like Phuket. The arrests highlight the government’s commitment to cracking down on illegal activities that undermine the local economy and deprive Thai citizens of business opportunities.
The authorities are sending a strong message that the use of nominees to operate businesses in Thailand will not be tolerated. By enforcing regulations and cracking down on illegal activities, the government aims to protect the interests of Thai citizens and ensure that foreign investment is conducted in a legal and transparent manner.
Source link : Phuket’s Foreign Investment Crackdown: Over 200 Arrested in Nominee Scheme
