British man investigated over 120 rai Krabi land

On 7/26/2026 at 8:49 AM, flaming dragon said:

These people aren't "mugs" most are astute businessmen who are navigating a sudden sea change. They operated under the old system and the new government was forced to crack down when certain groups became antagonistic towards the local populace. My belief is that it will seriously deter foreign investment, which will be both a blessing and a curse for the locals affected by these arrangements.

Agree 100%.

Most expats where surely told by local lawyers ???...it to be a lawful action.

Just waiting for 30 year leases and buying a Condo to be a result of some loopholes.

Anybody with some common sense will not bring big money in the future to this country.

Institutional corru........ and unpredictable future policies are not inviting.

On 7/26/2026 at 8:04 AM, Gottfrid said:

In general, it goes back to the state or the former body of ownership. Usually a city, province or government authority, and will later be sold again or auctioned.

Sold to an influential local at a sweetheart price with wheels duly greased for said sale.

16 minutes ago, wensiensheng said:

Sold to an influential local at a sweetheart price with wheels duly greased for said sale.

That is not unlikely. 😂

14 minutes ago, shackleton said:

This dates back when corruption was okay pay off people in the right positions

But things have now changed for the better a few people are going to find out at their cost it does not work anymore for some 😱

Perhaps.

Alternatively the people who used to receive a small pay off have now realised that they can satisfy the current nationalistic band wagon that is gaining traction AND get a bigger pay day when confiscated land is sold through sweetheart deals to connected locals.

Win win.

Having said that, the issue is that the number and scale of foreign investment using nominee shareholders became just too big to be ignored. To be fair to the Thai government it can’t be said that the revised interpretation and implementation of the law hasn’t been sign posted well in advance. If anything it could be said too many warnings were given too early, and as a result people thought that they were crying wolf.

AFAIK This whole thing came into the public consciousness when Thaksin sold his shares in Shin Corp to Singtel of Singapore. Singtel used the 51% local non voting shares and 49% foreign owned voting shares structure. Of course Thaksin didn’t pay tax on his gains, and the Singtel share arrangement hit the headlines.

I think I have the gist of that right, no doubt I’ll be corrected if not.

6 hours ago, ukrules said:

a Chanote exists

It would be interesting to see who. The original stakeholder is.

12 hours ago, CallumWK said:

Soon some exotic cars will be auctioned all over Thailand.

And the foreign so-called manager whos the real owner of beer bars.

1 hour ago, Old Croc said:

My main failure is my inability to meet my once target of spending it all by my last day alive.

You're obviously not trying hard enough.

4 hours ago, JerryM said:

The attitude as likely similar to this as was posted on the VISA forum yesterday regarding formal Immigration laws:

I can also post the law that shows you must wear a helmet on a motorcycle. Does that change reality?

Because the change has not occurred all at once, in one sharp application, does not mean that the change is not underway. The government has started at a point where there was little if any enforcement. It has a limited amount of resources it can apply to the project, but the enforcement actions will increase. it takes time to work through the layers of companies, and as the investigator experience grows, the authorities will be able to spot the deceit faster because many structures will follow the same format.

Your argument is that because there is still some non compliance, one should not be concerned about getting caught. Ok. You put your own assets and investment at risk. The enforcement actions are coming and a prudent person would be well served to avoid a potential financial mess asap.

11 minutes ago, Patong2021 said:

Your argument is that because there is still some non compliance, one should not be concerned about getting caught.

As I said: this as was posted on the VISA forum yesterday regarding formal Immigration laws:

I didn't post it. It was posted by one of the resident experts on the VISA forum. And it was in reference to some of the practices therein that, with a literal interpretation of statute, could not exist.

1 hour ago, Old Croc said:

My main failure is my inability to meet my once target of spending it all by my last day alive.

I can help you out there!

9 hours ago, ukrules said:

So you think it was previously owned by the state not some private land holder?

For it to revert back to someone they had to hold it previously.

This and other stories have been spoken about with a lot less 'emotion' in other places and there is talk about a certain amount of time being given to the companies in question to sell the land and if it's not done within this time period it would then be auctioned - but it's going to belong to the company regardless of what happens to the foreigners company holdings - a Chanote exists.

9 hours ago, ukrules said:

So you think it was previously owned by the state not some private land holder?

For it to revert back to someone they had to hold it previously.

This and other stories have been spoken about with a lot less 'emotion' in other places and there is talk about a certain amount of time being given to the companies in question to sell the land and if it's not done within this time period it would then be auctioned - but it's going to belong to the company regardless of what happens to the foreigners company holdings - a Chanote exists.

9 hours ago, ukrules said:

So you think it was previously owned by the state not some private land holder?

For it to revert back to someone they had to hold it previously.

This and other stories have been spoken about with a lot less 'emotion' in other places and there is talk about a certain amount of time being given to the companies in question to sell the land and if it's not done within this time period it would then be auctioned - but it's going to belong to the company regardless of what happens to the foreigners company holdings - a Chanote exists.

Unfortunately the advice received I received about 4 weeks ago from a good Thai lawyer who handles a lot of property and criminal law suggests you may well be wrong

If the crime is proven then the land and any profit can be forfeit to the government

The fact the government never owned it will b eirrelevant

If profits exist as a result of a crime then the said profits will be retained by the government- very similar to UK law in relation to the consequence of a proven Unexplained Wealth prosecution

Any landowner who owns land using a 49/51 Nominee arrangement will be at grave risk

I suspect the government will go after the big boys first - because it will be easier to prove. I say that on the basis that a foreign national will have a very heavy burden of proof to show why they are in business with a nominee in a 49/51 relationship concerning a lot of valuable real estate

In due course the relatively smaller targets owning just a residential house will no doubt fall in the cross hairs of the government

On 7/26/2026 at 3:05 AM, trucking said:

He was ahead of the game .....until he wasn't.

Why do these mugs do things like this ?

Clearly the bloke had money to start with. Would have been a lot safer investing in something legit and relaxing instead of

trying to beat the system with dodgy loopholes.

The human ego is the dumbest entity on the planet.

Edited 21 hours ago21 hr by BusyB
Changed an adjective for ESL readers

2 hours ago, Old Croc said:

My main failure is my inability to meet my once target of spending it all by my last day alive.

I can help you if you like - for a fee 😏

On 7/26/2026 at 1:49 AM, flaming dragon said:

These people aren't "mugs" most are astute businessmen who are navigating a sudden sea change.

Anyone who invests in Thailand is a mug.

Yeah, yeah, I know. "My lawyer is different." 😂 😂

And are they going after the locals who helped in this law bending?

47 minutes ago, stubuzz said:

And are they going after the locals who helped in this law bending?

Sure. No problem. All right here.

On 7/26/2026 at 2:49 AM, flaming dragon said:

They operated under the old system

Yes, but wasn't the "old system" merely a way of getting around the law by appearing to do things legally?

Rather like the 30 year "automatically renewable" lease on a condo - never actually enshrined in law, but "that's the way we do it here", nudge, nudge.

On 7/26/2026 at 12:18 AM, PhilipHabib said:

Man oH Man this is really uncovering a web of lies , who gets the land when this happens is what Gu wants to know ?

Where did the 1.2 billion Baht come from ?

2 minutes ago, oustaristocrats said:

Where did the 1.2 billion Baht come from ?

From OP: ... in Krabi over suspected nominee shareholding arrangements linked to more than 120 rai of land worth about Bt2 billion.

(OP) Poonpong Naiyanapakorn, director-general of the DBD, said the British national registered a company in 2000 with Thai shareholders.

NB So I gather it is worth 2 billion Baht now but that is not what was paid 26 years ago.

On 7/26/2026 at 8:18 AM, PhilipHabib said:

Man oH Man this is really uncovering a web of lies , who gets the land when this happens is what Gu wants to know ?

On 7/26/2026 at 8:18 AM, PhilipHabib said:

Man oH Man this is really uncovering a web of lies , who gets the land when this happens is what Gu wants to know ?

I would assume the person or Govt Dept that owned it when he sold it to these, now poorer individuals, get his land returned.

Plus I expect that the owner who sold it would refund all monies received from the buyer to the authorities so they can add to the massive fine if guilty.

Whether what I assume here does anyone know what legally happens?

On 7/26/2026 at 8:18 AM, PhilipHabib said:

Man oH Man this is really uncovering a web of lies , who gets the land when this happens is what Gu wants to know ?

6 minutes ago, cynic1 said:

I would assume the person or Govt Dept that owned it when he sold it to these, now poorer individuals, get his land returned.

Plus I expect that the owner who sold it would refund all monies received from the buyer to the authorities so they can add to the massive fine if guilty.

via Gemini:

Driven by a rigorous crackdown on illegal foreign property ownership and nominee structures—particularly targeting hotspot areas like Phuket, Koh Samui, and Koh Pha-ngan—Thai authorities and legal experts have pushed for structural reforms.

Proposals and ongoing policy discussions center around amending Section 94 to introduce much harsher enforcement:

Potential Confiscation Without Compensation: Proposed adjustments aim to grant the state powers to outright confiscate land acquired via unlawful nominee arrangements without allowing the offending parties to profit from a forced sale.

OK those are still only proposed amendments.

The rationale is that allowing the current illegal owner to dispose of the properties allows him to possibly walk away with a profit on the venture.

21 hours ago, unblocktheplanet said:

Was not "dodgy" until very recently. His mistake was trying to sell pieces. I doubt he would have come to notice if he hadn't.

It's always been dodgy. Only enforcement is recent, and due IMHO.

On 7/26/2026 at 4:48 AM, Georgealbert said:

The DBD said Thai people found to have helped or supported foreigners in operating businesses unlawfully could also face enforcement action.

As for all these ancillary players, it makes a big difference whether they just performed one shot services at the inception of the nominee structure or they have a continuing involvement as to taxes and other required annual filings.

For the former statute of limitations becomes and issue whether 5 or 10 years based upon Foreign Business Act, Land Code, etc.

On 7/26/2026 at 2:05 AM, trucking said:

He was ahead of the game .....until he wasn't.

Why do these mugs do things like this ?

Clearly the bloke had money to start with. Would have been a lot safer investing in something legit and relaxing instead of

trying to beat the system with dodgy loopholes.

It’s called GREED. 🤷🏼

17 minutes ago, Reddavy said:

It’s called GREED. 🤷🏼

Aside from the legalese, maybe the guy just liked owning a big piece of property on beautiful Krabi -- the same way billionaires these days like their US$400 million yachts with 2 swimming pools and a helicopter pad.

... because he could have sold it off years ago when it maybe would have been under the radar.

Edited 17 hours ago17 hr by JerryM

8 hours ago, FlorC said:

Must be prime location at 16 M THB/rai in Krabi.

It’s different plots in over 20 locations 🙈