Krabi authorities seize land linked to alleged nominee ownership
TPN - The Property Network
Thai authorities seized land in Krabi reportedly linked to an alleged foreign nominee ownership network.
Thai officials in Krabi seized 126 rai of land valued at 2.1 billion baht, according to the report. The land was reportedly linked to a British national alleged to have used Thai nominee companies to control property.
Officials reportedly froze 22 land plots in the Koh Lanta district. The report says investigators found a cross-shareholding structure that allegedly gave the British national 99.87% effective control of Gulval Properties, which purchased the plots.
The Interior Ministry said the Department of Lands will review ownership documents. If documents are found to be illegal, the property may be subject to compulsory disposal. Police are also investigating the scheme's financing, possible involvement by state employees, and hotel operations reportedly lacking proper licences.
The report describes the case as an enforcement action concerning alleged attempts to bypass restrictions on foreign ownership of land in Thailand.
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