Foreign-Invested Companies Hold More Than One Million Rai of Thai Land

Foreign-Invested Companies Hold More Than One Million Rai of Thai Land

Companies with foreign shareholders hold approximately 1.06 million rai of land and 76,840 condominium units across Thailand, according to new Ministry of Commerce figures. Government data divides 36,277 landholding companies with foreign investment into three groups based on the proportion of shares held by foreigners. Businesses with foreign ownership of up to 49% account for the overwhelming majority, holding more than 901,000 rai, a category authorities say can make genuine joint ventures difficult to distinguish from potential nominee arrangements on paper. Wholly foreign-owned companies hold about 103,000 rai, with a particularly heavy concentration in Chon Buri and Rayong within the Eastern Economic Corridor. The Department of Business Development stressed that foreign investment does not itself indicate wrongdoing and said suspicious ownership structures are being examined to identify illegal nominee shareholders and the networks behind them.