The files categorize businesses into three tiers based on foreign ownership: 0.01%–49.99%, 50%–99.99%, and 100% foreign-owned. Although the DBD stated that sharing profiles does not presume guilt or automatically indicate unlawful nominee arrangements, the unprecedented cross-border data sharing puts proxy corporate structures under severe pressure.
Under Thai law, Thai citizens acting as paid nominee proxies and foreign nationals operating restricted businesses without permission face up to three years in prison and fines ranging from 100,000 to 1,000,000 baht. Nominee-held operations in Thailand are facing unprecedented transparency.
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