Thailand intensifies crackdown on nominee companies and illegal land ownership

Thai authorities have intensified a crackdown on nominee arrangements, where Thai nationals are used to conceal foreign control of businesses and land ownership. As part of this operation, officials have seized and frozen assets totaling approximately 20.39 billion baht (roughly 96 billion yen).

Investigations are currently targeting more than 11,000 companies suspected of illegal nominee structures. Officials have already identified roughly 2,100 to 2,200 companies with suspicious shareholder compositions. The scope of the probe includes landholdings valued at approximately 80 to 85 billion baht.

Inter-agency efforts involving the Ministries of Interior, Commerce, and Justice, alongside police and land agencies, aim to complete these investigations by the end of September. Authorities noted that some businesses under scrutiny have already attempted to transfer assets or alter corporate structures to evade detection. If unlawful ownership is confirmed, officials may initiate procedures to force the sale of the land.