The investigation was initiated at an urgent meeting of the provincial committee responsible for examining suspected nominee land ownership, held at the Phuket Provincial Land Office on Monday (June 15).
The meeting was chaired by Naphat Em-on, an Inspector-General from the Department of Provincial Administration who is currently serving as Acting Phuket Provincial Clerk and acting on behalf of the Phuket Governor.
Representatives from the Phuket Provincial Land Office and the Thalang branch office reported that they had screened data on companies holding land in Phuket and identified several firms with shareholding structures warranting further investigation.
According to officials, some companies were found to have foreign shareholders holding more than 49% of the registered capital, or a greater number of foreign shareholders than Thai shareholders. Authorities said such arrangements may indicate attempts to evade restrictions on foreign land ownership through the use of Thai nominees.
Officials stressed that the findings are grounds for investigation only and do not in themselves confirm any legal wrongdoing.
As a result, Phuket Province has instructed Mueang Phuket District to coordinate with village heads and local leaders to help verify information, monitor suspected nominee arrangements and support inspections in their respective areas.
Authorities said the intensified inspections are intended to protect the province’s economic interests and national security by preventing unlawful land ownership.
The meeting follows a nationwide directive issued by the Department of Lands on June 1 ordering provincial authorities to strengthen scrutiny of suspected nominee ownership of land by both individuals and companies.
Under the new measures, land transactions involving individuals worth B5 million or more, or cash payments exceeding B2mn, are subject to detailed investigations into the purchaser’s income, occupation and source of funds where there are grounds for suspicion.
The Department of Lands has also tightened checks on companies with foreign shareholders or directors, particularly where land purchases exceed B5mn or involve cash payments of more than B2mn.
Officials will examine whether Thai shareholders are genuine investors or are acting as nominees for foreign interests, while also investigating the source of company funds. Companies purchasing land for more than their registered capital without financing arrangements may also face additional scrutiny.
The Department of Lands has instructed every province to establish committees comprising officials from provincial administrations, land offices, local government organisations, provincial commerce offices and other relevant agencies to investigate suspected nominee arrangements and monitor suspicious land transactions.
No details have yet been released regarding the number of companies under investigation in Phuket, the locations of the land involved or whether any formal legal action has been initiated.