From the British Chamber of Commerce today:

The EC Delegation has been informed of the Order of the Central Registration Office No.102/2549 (2006) regarding new requirements for business registration, which will take effect on 15 August 2006. The new requirement is aimed at guarding against the problems of nominee shareholders and increasing transparency in the business registration process.

According to the Order, the new registration of a partnership or a company with (i.) foreign shareholders of 40% or more ( but less than 50%) of the registered capital; or (ii.) foreign shareholders of less than 40% of the registered capital, but those foreign shareholders have power to enter into juristic acts binding the partnerships or the companies, requires all Thai partners or shareholders to submit evidence(s) showing source(s) of fund used to hold the shares, which is: Bank statement or passbook of the past 6 months, or Other banking documents showing financial status of the partner(s) or shareholder(s) or, Copy of other evidences showing source(s) of fund used for holding shares.

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