⚠️ 5 Warning Signs That Your Company’s Shareholding Structure May Involve a “Nominee Arrangement” 1️⃣ Unclear identity and relationship of the major shareholder The shareholder (especially a Thai shareholder) has no family relationship with the actual core management or controlling shareholder, no clear business relationship, and cannot clearly explain the legitimate source of their investment funds. 2️⃣ Complex structure or cross-shareholding arrangements The use of holding