Police raid 33 suspected nominee firms in property crackdown in Pattaya

Thai police raided 33 firms in a crackdown on suspected nominee businesses in Thailand.

Officials swept through the resort town of Pattaya to dismantle shell companies allegedly used by foreigners to bypass Thailand's notoriously strict property ownership laws.

The Royal Thai Police, provincial police, SWAT teams, the Provincial Commerce Office and the Provincial Land Office joined the operation, which is the fourth in a series of major crackdowns.

Since the 19th century, the Thai elite have been plagued by fears that overseas buyers will buy up their land and businesses. Mergers and acquisitions by international companies are also illegal.

The fears have been reignited in the last couple of years amid an influx of settlers from Russia, Israel, India, China, the UK and other countries.

Police Lieutenant General Noppasin Poolsawat, commissioner of the Office of the Commissioner-General of the national police, said the previous three phases examined around 130 rai of land worth more than 1.67 billion baht, and led to more than 100 arrest warrants being issued for both Thai and foreign suspects.

He added: 'For the operation in Chonburi, we aim to inspect 33 companies linked to the nominee ownership of 32 plots of land, with a combined value of approximately 235 million baht.

‘We are also executing four arrest warrants and 41 search warrants.

‘One of the target locations is a housing project in Bang Lamung district, which is under investigation over suspected nominee land ownership on behalf of foreign nationals.'

Chonburi Governor Naris Niramaiwong said the operation is part of a government drive to eradicate illegal foreign land ownership, tracing financial transactions and land ownership records to uncover alleged violations.

He said: 'This operation aims to protect the country's interests, and all officers are urged to perform their duties with honesty, integrity, prudence and strict adherence to the law.'

The crackdown followed last week's raids on homes and businesses across Koh Samui and Koh Phangan islands last week.

Investigators searched locations linked to luxury villa projects, hotels, law firms and property companies allegedly controlled through Thai nominee shareholders.

Authorities were examining billions of baht in assets and overseas financial transfers as the probe into the suspected nominee network continues.