Thai authorities are preparing to investigate the business records of Israeli nationals who obtained Thai citizenship after concerns emerged over alleged nominee business activities on Koh Phangan and Koh Samui in Surat Thani province.
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Officials are examining whether some companies used financial transactions to disguise investment figures in order to qualify for Thai citizenship under the Nationality Act 1965. The scrutiny follows an ongoing government crackdown on foreign nominee businesses operating in tourist areas.
Investigators found that Koh Phangan has 3,188 Thai-registered companies with foreign shareholders holding up to 49 per cent stakes, out of 4,761 registered legal entities in the district. Israeli nationals account for the largest group of foreign shareholders, linked to 720 companies or 22 per cent of the total, far ahead of French shareholders at 13 per cent.
Authorities also discovered that several firms were registered by Israeli nationals who had already obtained Thai citizenship in 2017. One company founded in 2020 listed activities including hotels, accommodation services, a tourist service centre for Israeli visitors, and restaurants.
The founder of the company was also reported to have played a significant role in a Chabad centre on Koh Samui. Following the widening nominee business investigation, officials began conducting detailed reviews into company structures, shareholder records and financial statements dating back to the formation of each business.
A source within a tax collection agency said several firms showed irregularities involving asset figures, investment capital, losses and balance sheet reporting. Some companies reportedly failed to submit balance sheets entirely.
Officials are now questioning whether some transactions were structured to create the appearance of legitimate investment activity in Thailand in order to obtain Thai citizenship. Under Thai regulations, foreign nationals who invest in business activities in Thailand may qualify for citizenship through legal procedures.
Authorities are also concerned that once citizenship is granted, individuals may gain the same rights as Thai citizens, including land ownership and wider business opportunities, potentially encouraging other Israeli nationals to pursue similar pathways to permanent settlement.
Businesses linked to Israeli-Thai nationals reportedly include property trading, property leasing and management, financial support services, management consultancy, kosher food businesses, education services, scientific testing operations on Khao San Road and tourism companies.
Officials estimate that more than 40 companies connected to the network now operate across tourist destinations including Koh Phangan, Koh Samui, Phuket and Bangkok.
The Daily News reported that the investigation is expected to continue as authorities coordinate with security agencies and financial regulators to determine whether any criminal or fraudulent conduct occurred.
Picture courtesy of Daily News of ongoing investigations
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Adapted by ASEAN Now Dailynews 29 May 2026
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