Thai authorities are investigating a British national and three interconnected companies in Krabi over suspected nominee shareholding arrangements linked to more than 120 rai of land worth about Bt2 billion.
The Department of Business Development (DBD) said the companies, which are alleged to have used cross-shareholdings, hold around 22 land plots and have openly advertised the land for sale. Officials are considering possible land revocation and criminal proceedings following a deeper investigation.
Three firms under scrutiny
The operation involved the Commerce Ministry, Interior Ministry, Royal Thai Police and Provincial Police Region 8. It was led by Deputy Interior Minister Pholpheera Suwanchawee and targeted companies suspected of using Thai nationals as nominee shareholders to bypass Thai legal restrictions on foreign business ownership and landholding.
Poonpong Naiyanapakorn, director-general of the DBD, said the British national registered a company in 2000 with Thai shareholders.
Officials subsequently identified what they described as significant changes: the original Thai shareholders were removed and replaced by a cross-shareholding structure involving three companies. The firms reportedly had the same individual as director.
Investigators examined shareholder lists and registers, financial statements, investment funding sources, management structures, business premises and links between shareholders and directors. The evidence gathered will be used in potential legal action.
The DBD said Thai people found to have helped or supported foreigners in operating businesses unlawfully could also face enforcement action.
What it means for foreign investors
Foreigners can lawfully invest in Thailand, including in Krabi's large tourism and property sectors, but land ownership and certain business activities remain restricted under Thai law. A company structure involving Thai shareholders must reflect genuine ownership and control, rather than acting as a front for a foreign investor.
The investigation does not mean all foreign-owned or foreign-invested businesses in Krabi are improper. However, authorities said they are focused on companies suspected of disguising foreign control in order to avoid permission requirements.
Krabi's foreign investment picture
Krabi is a major economic and tourism province with continued overseas investment, particularly in property, hotels, resorts, restaurants and service businesses, the DBD said.
As of 22 July 2026, the province had 4,661 registered legal entities with combined registered capital of Bt33.722 billion. Krabi town had 2,888 entities, followed by Koh Lanta with 616, Nuea Khlong with 307, Ao Luek with 266, Khlong Thom with 205 and other districts with 379.
The DBD recorded 696 legal entities with foreign shareholdings of between 1 and 49.99 per cent, including 280 on Koh Lanta. A further 13 entities had foreign shareholdings of 50 per cent or more, with one on Koh Lanta.
Picture courtesy of Matichon
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26 July 2026
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