December 2024
DBD to continue investigating Thai juristic persons used as nominees by foreign businesses in 2025
Following complaints from local business operators and information provided by relevant government agencies, the Department of Business Development (“DBD”), the Ministry of Commerce investigated 26,019 business entities in 4 industries: tourism, land and property sales, hotels and resorts, and transport and logistics. Of these, the DBD identified 498 entities for intense scrutiny, of which 64 were charged with accounting irregularities, 63 were under further investigation, and 4 were suspected of being used as nominees.
January 2023
New Law: Civil and Commercial Code Amendment Act (No. 23) B.E. 2565 (2022)
Government published the Civil and Commercial Code Amendment Act (No.23) B.E. 2565 (2022) (“Act”) in the Royal Government Gazette on November 8, 2022. The Act will come into force on February 7, 2023.
New provisions for M&A transactions and changes to general corporate governance and procedure are among the changes in the Act.
