Nominee-owned foreign firms on Samui taking up long-term land leases

10 Sept 12:41 Key points summarised by AI

Foreign-controlled companies on Samui Island are using Thai nominees to secure long-term land leases for hotels and resorts, circumventing direct land ownership laws.
Deputy Interior Minister Polapee Suwunchwee and Deputy National Police Chief Pol Gen Samran Nualma announced a major crackdown on these nominee businesses, including firms that facilitate such illegal activities.
A staggering 8,254 out of 12,906 registered companies on Samui are suspected of being nominee-held, prompting a thorough investigation by provincial and business development departments.
Thai law and accountancy firms are warned against advising clients on methods to circumvent land ownership laws, emphasizing adherence to ethical conduct.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.