Thailand eyes forced sales in foreign property crackdown
Prime Minister Anutin Charnvirakul called for tougher action against the use of Thai proxies to circumvent a ban on non-Thais owning land.
Bangkok is grappling with a potential crackdown on foreign property ownership as Thailand's government explores forced sales of up to 2,300 plots of land worth over $400 million. Prime Minister Anutin Charnvirakul has called for stricter measures against the misuse of Thai proxies to bypass a ban on non-Thais purchasing land. The Department of Lands has identified 2,360 plots, amounting to 14.01 billion baht (US$417 million), held through 1,397 proxies across 5,467 rai (around 875 hectares) of land nationwide.
The government plans to expedite the forced sale of land in cases deemed illegal, pursuing both civil and criminal legal actions. While tourism contributes 12.6% to Thailand's GDP, it has faced scrutiny due to perceived misconduct by visitors and concerns about foreigners buying property in popular areas, such as Phuket. Thailand's law prohibits foreign nationals or companies from owning land, with limited companies allowed to purchase land if majority shares are held by a Thai national.
The investigation should not solely focus on title deed holders or shareholders, but also uncover the true controlling figures and ultimate beneficial owners, according to Prime Minister Anutin.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
