Thai authorities crack down on nominee property ownership structures on Koh Phangan and Phuket

Thai authorities are cracking down on nominee structures used by foreigners to own property, sparking debate about long-standing loopholes in the property sector. These arrangements often involve Thai companies with foreign shareholders, utilizing Thai nominees to circumvent foreign ownership limits. This practice is widespread in popular resort destinations like Phuket and Koh Phangan. The issue highlights concerns about foreign influence and potential loss of government revenue from property taxes and transfer fees.