Thailand to crack down on foreign property ownership via local proxies

Thailand's government is escalating its battle against foreign nationals who use local proxies to acquire property in violation of the kingdom's foreign ownership restrictions. Prime Minister Anutin Charnvirakul has called for stricter measures to close loopholes that have allowed non-Thais to skirt the nation's longstanding ban on foreign land acquisition.

The scheme typically involves foreign investors purchasing property through Thai nationals or front companies, circumventing legislation that prohibits direct foreign ownership. The practice has drawn increasing scrutiny from Bangkok authorities keen to enforce existing property laws and protect domestic land resources.

The government's proposed measures, which could include forced sales of illegally acquired properties, represent a significant hardening of stance on the issue. Officials have signalled their intent to pursue enforcement action against both foreign buyers and Thai proxies involved in the arrangements, potentially subjecting violators to significant financial and legal consequences.

The crackdown reflects broader government concerns about foreign control of Thai land assets. As enforcement efforts intensify, property market participants and foreign investors operating in Thailand face heightened regulatory scrutiny of ownership structures and transaction arrangements in the residential and commercial property sectors.