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

2 hours ago, 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 ?

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.

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.

39 minutes ago, 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.

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.

9 hours ago, 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.

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.

10 hours ago, 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.

Astute? Maybe, though I wouldn’t call the Brit’s 3 card monte style “cross shareholding structure” with one director particularly wise. It was especially unwise, then and now. Hopefully he filled his pockets over the past 26 years because he will need to reach deep to get out of this morass.

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Soon some exotic cars will be auctioned all over Thailand.

3 hours ago, CallumWK said:

Soon some exotic cars will be auctioned all over Thailand.

Perhaps, or some government officials' sons will be driving them around.

19 hours ago, Gottfrid said:

In general, it goes back to the state or the former body of ownership.

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.

22 hours ago, Georgealbert said:

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

Anyone here?

I was thinking Georgie boy until I saw his nationality.

Georgie boy is loaded 💸 💵 💲

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There is absolutely no excuse for abusive behavior.

1 hour ago, ukrules said:

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

So you are suggesting above I'll presume a THAI private land owner and not one or more other nominee constructions.

11 minutes ago, JerryM said:

So you are suggesting above I'll presume a THAI private land owner and not one or more other nominee constructions.

Trace it back a decade or two and one day a Thai person or some other Thai company would have owned it. What I'm saying it it wasn't owned and sold by the local state province or the central government. If it was then there are even more questions to be asked - but that's highly unlikely isn't it.

My Mrs bought a plot of land a couple of years back which hadn't changed owner since about 1970.

2 minutes ago, ukrules said:

Trace it back a decade or two and one day a Thai person or some other Thai company would have owned it.

OK. I was just suggesting there could have been intermediary transactions between the current owner and the one time private THAI land owner.

7 minutes ago, JerryM said:

OK. I was just suggesting there could have been intermediary transactions between the current owner and the one time private THAI land owner.

Sure, why not. I mentioned it as someone said it will revert back to the province or the state as if it had belonged to them all along - it didn't.

So there may be intermediary transactions between the current owner and the one time legit THAI owner. No problem -- it's in there. Somewhere.

20 hours ago, 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.

Yes. You've pretty much nailed it. BBC Southeast Asia correspondent Jonathan Head has predicted this nominee thing will ultimately fail. There is a spectacular case in Pattaya where a bar boss and not of the Irish theme bar type.has been exposed today by Andrew Drummond on his .com website. Problem. of course, is the enablers.

Edited July 26Jul 26 by Thai-Defender

11 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.

These types of arrangements were ALWAYS illegal and not recent. There was a pause during Covid, but enforcement came back after the crisis. https://www.khaosodenglish.com/news/2023/12/20/several-properties-in-chiang-mai-are-confiscated-after-being-linked-to-chinese-nominees/

Some people were able to get away with it for years, but it was only a matter of time before the house of cards would come tumbling down. A reading of the old Thai visa forum will show multiple warnings about the risks of this type of activity. The people who warned about the consequences were often dismissed as cowards, or know it alls. My legal counsel told me it was illegal except under specific circumsatances and that there would eventually be a day of reckoning. He has been proven right, but then, he was an actual experienced legal counsel and not someone with a conflict of interest, pushing real estate sales.

Foreigners have been allowed to purchase land decades, but it has strict conditions;

- Purchase must be done as per a treaty allowance.

-Only foreigners who bring in the capital for investment of more than 40 million Baht are allowed.

-Land size cannot exceed 1 rai.

- Approved by the Minister.

14 minutes ago, Patong2021 said:

Some people were able to get away with it for years, but it was only a matter of time before the house of cards would come tumbling down.

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?

Well at least you can be sure he doesn't holiday in Benidorm.

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

British national

Again 🙀

What will happen to the land? Repossessed by govt or banks?

And what will happen to him? Banned for Life time after a decade in Thai prisons?

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.

Let me break it down for you...

1. Foreigners give Thais money to buy land, buildings, businesses.

2. Thais control the land, buildings, businesses.

3. Shut up. 😄

23 hours ago, 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.

Let's point at the real people and that is the Mainland Chinese, Hong Kong, who the leaders invited prior to Covid, during Covid and after Covid. It is give people an inch they will take a foot and so forth.

This been brewing since they realized that the Chinese Triads had taken control of half the provinces in Thailand. Then the banking debacle scam by BB in Pattaya.

Now although it seems these projects are large it doesn't hit or begin to clean up stuff since the riches of the rich are involved in these nominee's that will never be touch, when that building fell in Bangkok that started it but the investigation raids will never reach that high.

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

There is a government department called the Legal Execution Department.

They mostly auction property where borrowers have defaulted on their payments.

They are likely to handle the process, I suspect some foreigners will be given six months or a year which to sell the property otherwise LED will handle it. For those that have been exceptionally naughty it will probably go straight to LED to be auctioned and proceeds may even go directly to the government.

Either way, there is going to be a lot of cheap property available soon and property prices in some of these areas are going to be significantly depressed as a result.

Edited July 27Jul 27 by JBChiangRai
Spillobg

5 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.

I don´t necessarily think or believe it was owned by the state. That was an example. Of course it could have been privately owned. I also posted it would be sold or auctioned out. Exactly as you counter-post. A Chanote of a specific kind always exist on legal land.

The thing here is that it will NOT continue to belong to the company, as it is confiscated as land bought using illegal methods.

Hopefully, you have never owned or ran a company in Thailand, because that seems to be a recipe for disaster! 😂

You should just think about stop talking about things you have no clue about. Have a good day!

"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."

Red flag! Red flag! A failed attempt by a foreign national who tried to conceal his identity in the ownership of a company that was set up to buy and sell land. This is a blatant violation of Thai law. No sympathy for the foreigner who knew what he was doing was illegal and thought he could get away with on a legal loophole. Just because others may be using a similat loophoe doesn't make it legal.

This is just the start, foreign run biz are pocket change
they will go after the land and properties

their intentions are clear, BEFORE their investigation has been completed.
"Officials are considering possible land revocation and criminal proceedings following a deeper investigation."