Thai Examiner
100 Phuket firms with revenues of 5 billion using naturalised citizens investigated after police raids
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Foreign ownership crackdown grips Phuket as 361 firms face checks and officials probe naturalised Thai shareholders. More than 100 companies with ฿5 billion in revenue face financial tracing after eight raids led to 16 Thai and foreign prosecutions.
Key facts
- Financial inquiry now traces capital behind 361 firms as Phuket companies report ฿5 billion revenue
- Foreign ownership crackdown grips Phuket as 361 firms face checks and officials probe naturalised Thai shareholders
- Thailand has widened its foreign nominee crackdown to 361 companies amid concerns that naturalised citizenship may be concealing foreign control
- Together, those firms generated revenue exceeding ฿5 billion last year
- Naturalised Thai shareholders now face checks over foreign capital and control of Phuket businesses
- The business operates in Patong with registered capital of ฿30 million
Summary
Thailand has widened its foreign nominee crackdown to 361 companies amid concerns that naturalised citizenship may be concealing foreign control. More than 100 Phuket firms earning over ฿5 billion face financial tracing after raids led to 16 prosecutions. The expanding inquiry now covers shareholders, bank records, land, citizenship approvals and Chabad-linked businesses in Patong.
Thai officials are investigating whether naturalised citizenship is being used to conceal foreign control of businesses in Phuket. The Interior Ministry has ordered financial checks on more than 100 companies operating across the island. Together, those firms generated revenue exceeding ฿5 billion last year. In parallel, government records have identified 361 companies nationwide for closer examination.