Phuket Private Sector Urges Government to Form Task Force on Nominee Investor Issues

Phuket's private sector in southern Thailand is strongly urging the government to establish a dedicated task force to resolve the issue of "nominee" investors in real estate. This call stems from concerns that the practice is negatively impacting the property market. According to stakeholders, the nominee problem can hinder fair competition and impede the healthy development of the real estate market, particularly in areas like Phuket, which attract a significant number of foreign investors. To address this situation, the private sector has proposed a new concept named the "Phuket Quality Resident Sandbox." This initiative aims to encourage high-quality foreign residents to stay in Thailand long-term and calls for the government to enact relevant legislation and regulatory reforms. Specifically, it suggests introducing a system that prioritizes foreigners wishing to immigrate or reside in Thailand, based on criteria such as investment amount, expertise, and contributions to the local community. Phuket, with its abundant natural beauty and international resort appeal, attracts investors and prospective residents from around the world. However, if the nominee issue escalates, it could diminish investment enthusiasm in Thailand and jeopardize economic growth opportunities. The government is called upon to listen to the private sector's concerns and implement effective measures to foster a sustainable real estate market and attract high-caliber foreign residents.