Pattaya Daily News

19 February 2014 :: 13:02:07 pm 82425

Checked 61 Companies That Might Have Foreign Nominees

The department of business development has been sent to check 61 companies. They have been sent to check businesses because some are operating with foreign nominees.
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Ms. Phongphan Jiarawiriyapan, the director general of Department of Business Development said that the department would be stricter to immigrant businesses due to the increasing numbers which are entering Thailand. They have audited 2,300 cases already and found that 61 are being operated where a Thai shareholder is holding the foreigners shares of 50% in their name which is a way of doing business here which is reserved for only for Thai’s.

The Director General of the Department of Business Development, said that she had sent the officers to businesses check the relevant documents to see if they were found engaging in prohibited business for foreigners without permission and they would be prosecuted according to law.

The offenders could be face no more than 3 years imprisonment, or a fine from one hundred thousand to 1 million baht or both. The court ordered termination and would be fined 1-10 thousand baht per day, throughout the violation. They are clamping down on businesses because are trying to stop the exploitation of Thai people.
The Department of Business Development ,in 2014, has focused on monitoring entities that had alien shares holders within the tourist areas like Krabi, Chiangmai, Prachuap Khiri Khan , Surat Thani , Phuket, Chiang Mai and Chonburi, and found 14 people were within the scope of having committed crimes as nominees for foreigners.

While allowing immigrants to do businesses that followed the act of immigrant business, since March 3, 2000- Jan 31 2014, there were total 3,663 cases, first investors from Japan, Singapore, Germany, Hong Kong, Netherlands, France, Korea, UK and U.S.

Photo : Internet   Category : Society

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