Resort destinations in Thailand have become targets for foreigners seeking property ownership by using nominees.
The recent crackdown on alleged nominee structures linked to foreign land ownership on Koh Phangan has reignited debate over long-standing concerns in Thailand's property sector, particularly in resort destinations popular with overseas buyers.According to Surachet Kongcheep, head of research at property consultancy Cushman & Wakefield Thailand, the issue extends far beyond a single island or nationality.
"Several legal structures, loopholes and informal arrangements have existed for years in markets such as Phuket, Pattaya, Samui and Bangkok, often involving both foreign investors and Thai facilitators," he said.
WHAT TYPES OF OWNERSHIP STRUCTURES ARE COMMONLY USED?
Mr Surachet said the most common method remains the use of Thai-registered companies to hold land or property on behalf of foreigners.
