Foreign Investors Hold Over 1 Million Rai of Land, Probe Underway

Puenpong Naiyanapakorn, director-general of the Department of Business Development under the Commerce Ministry, revealed that the department has examined land and condominium holdings by 125,622 corporate entities under its supervision. Cross-referencing with the Department of Lands, officials found that 123,542 entities hold a combined 1,269,326 land title deeds covering 4,504,926.88 rai.

Thai-only companies account for 87,265 entities (70.64 percent) holding 963,488 deeds (75.90 percent) covering 3,440,661.50 rai (76.38 percent of total corporate holdings). Foreign-invested entities number 36,277 (29.36 percent) holding 305,838 deeds (24.10 percent) covering 1,064,265.38 rai (23.62 percent). While officials cannot yet confirm whether all foreign investors are nominees, some cases are considered high-risk. The department has conducted deeper investigations and referred suspicious cases to relevant authorities. Provinces with significant foreign holdings include Chon Buri, Bangkok, Samut Prakan, Nonthaburi, Pathum Thani, Rayong, and Ayutthaya.

Regarding condominium ownership, 14,878 corporate entities hold 244,115 units spanning 13,153,690.14 square meters. Thai-only companies own 7,796 entities (52.40 percent) holding 167,275 units (68.52 percent) covering 9,050,575.26 square meters (68.81 percent). Foreign-invested entities number 7,082 (47.6 percent) holding 76,840 units (31.48 percent) covering 4,103,114.88 square meters (31.19 percent).

The department has shared data on foreign-invested entities with the Department of Internal Administration, Department of Lands, Department of Special Investigation, National Police Office, and the Anti-Money Laundering Office for verification. If nominee arrangements are confirmed, legal action will follow.