Thailand Intensifies Land Ownership Probe, 694 Entities Flagged for Foreign Nominee Suspicions

Authorities in Thailand have identified 694 landholding entities for in-depth investigation over suspected nominee arrangements involving foreigners. This figure represents nearly 90% of all entities flagged across Prachuap Khiri Khan province, indicating an accelerated effort to clarify the reality of foreign land ownership in Thailand. The findings were presented at a provincial meeting on Tuesday, where officials also reported that 71 legal entities across the province met the criteria requiring them to sell their land due to foreign shareholding levels. Thai law places restrictions on direct foreign ownership of land, and the practice of foreigners effectively owning land through Thai nationals or legal entities as nominees has become a point of concern. This investigation is understood to aim at enhancing transparency in Thailand's land ownership and ensuring strict adherence to domestic regulations. Amidst increasing foreign capital inflow into the real estate market, such nominee arrangements have been pointed out as potentially leading to inflated land prices and hindering real estate acquisition opportunities for Thai citizens. Hua Hin, being a region attracting numerous foreign residents and investors, has a significant number of its entities included in this investigation, highlighting the scrutiny on foreign land ownership practices in the area. Authorities plan to proceed with detailed inquiries and requests for documentation from these entities to ascertain the facts. Source: Hua Hin Today