BANGKOK, Thailand – Thailand’s Department of Business Development (DBD) and the Department of Lands are joining forces to tackle cases where foreign nationals allegedly use nominee companies to gain control over land and property ownership while avoiding legal restrictions. DBD Director-General Poonpong Naiyanapakorn said authorities have identified cases where foreigners establish companies with Thai nominees holding at least the required share structure to qualify as Thai companies, allowing them to purchase and hold real estate and land.
After acquiring properties, some companies allegedly change shareholders and directors to give foreign nationals greater management control while removing the original Thai nominees, creating concerns over the use of corporate structures to bypass land ownership laws. Under Thailand’s Land Code, foreign nationals generally cannot directly own land, although Thai companies are permitted to own and trade property. Authorities are now focusing on cases where legal company structures may be used to conceal foreign control.
Poonpong said the DBD will strengthen monitoring by verifying shareholder information through data links with the Ministry of Interior’s Department of Provincial Administration to prevent the use of fake or non-existent shareholders. The agency will also connect information with the Department of Lands in real time, allowing officials to quickly track changes in company structures and identify potential violations. Starting August 1, 2026, copies of company shareholder lists issued by the DBD will include a warning stating that the document is only a copy of information submitted by company directors and does not certify the current legal status or ownership rights of shareholders.
Authorities said the actual shareholder status must be verified through the company’s shareholder register, which is legally considered the correct record, rather than copies held by the registrar.
The move follows a Supreme Administrative Court ruling that the registrar’s role is limited to receiving and storing company documents, not certifying shareholder ownership or legal rights.
