BANGKOK, Thailand – More than 11,000 companies suspected of using nominee arrangements are being investigated, with authorities saying the process will be completed by the end of September.
Deputy Interior Minister Polapee Suwunchwee said the Ministry of Interior, Ministry of Commerce, Royal Thai Police and Department of Lands are sharing information and coordinating investigations into suspected nominee businesses.
The latest figures show about 2,200 companies holding land have foreign shareholders exceeding Thai shareholders. More than 1,100 companies are considered suspicious because they may have changed shareholders or bank account details. The estimated value of land held by the 2,200 companies has risen from about 65 billion baht two weeks ago to approximately 85 billion baht, Polapee said. He will report the latest figures to the Prime Minister, while the Department of Lands will accelerate investigations into the companies holding land.
Authorities are also examining more than 10,000 other companies to determine whether their operations comply with the law or involve nominee arrangements. Companies found to have violated the law will face legal action and be removed from the list once investigations are completed. Polapee said authorities aim to complete investigations into all 11,000-plus suspected nominee companies by the end of this month.
Justice Minister Pol Lt Gen Rutthaphon Naowarat said the meeting focused on sharing updated information and identifying obstacles faced by individual agencies. He said closer coordination would allow authorities to resolve problems more quickly. Each agency will also establish direct channels between senior officials and operational staff so urgent information can be shared without waiting for formal documents to pass between departments.
Polapee said some suspected nominee businesses had already begun transferring or moving assets, making speed essential in efforts to recover land held through illegal arrangements. Asked whether foreigners involved in land ownership cases would necessarily face deportation, Polapee said land ownership offences do not automatically lead to deportation. Immigration action depends on the relevant legal conditions or a court ruling.
He cited a recent case involving five foreigners prosecuted after a raid on a pub in Huai Khwang. They were fined, their visas were withdrawn and they were invited to leave the country rather than being formally deported. (TNA)
