Thai police say they have broken up a large network that illegally helped foreigners, mostly Russians, to stay in Thailand long-term through the use of company nominees or shell companies.
BANGKOK — Thai police have broken up a large network that illegally helped foreigners, mostly Russians, to stay in Thailand long-term through the use of company nominees or shell companies, officials said Friday.
Foreigners can operate a business in Thailand, but it must be a joint venture with a Thai partner except in specified cases, and they cannot own more than 49% to protect local competitiveness. A total of 98 foreigners, including 68 Russians, have been accused of operating businesses without a permit, which carries a maximum sentence of three years in prison and a million baht fine, police said. In addition, 37 Thais were accused of offenses related to the network.
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