Thailand has launched a nationwide crackdown on suspected illegal foreign land ownership, targeting investors who use Thai citizens and locally registered companies as nominees to bypass restrictions on property ownership.

Prime Minister Anutin Charnvirakul has ordered authorities to speed up investigations and enforce compulsory land sales where violations are confirmed. The government has identified 1,397 companies suspected of holding land for foreign nationals, involving 2,360 plots worth around 14 billion baht ($417 million).

Foreigners are generally barred from owning land in Thailand. However, some investors reportedly use Thai shareholders as nominal owners while retaining control of the properties and businesses. 

According to The Japan Times, the rapid growth of foreign investment and overseas-owned businesses in popular tourist destinations such as Koh Phangan has fuelled resentment among local residents, who fear losing control of their communities and land resources. 

Anutin has given provincial authorities until December to complete priority investigations. Officials will also examine financial records, company ownership structures and the sources of investment funds to identify the actual beneficiaries.

The government says legitimate foreign investors remain welcome but insists that land ownership must comply with Thai law. 

BOB Post