Phuket Crackdown Targets Foreign Nominee Land Network Worth 231 Million Baht

Authorities in Phuket have intensified their campaign against illegal foreign nominee networks, uncovering land holdings worth an estimated 231 million baht that are suspected of violating Thailand’s Land Code.

The operation forms part of the third phase of the Royal Thai Police’s nationwide crackdown on nominee business structures in Phuket, Krabi, and Phang Nga. The initiative focuses on identifying companies that allegedly use Thai nationals as proxy shareholders to conceal foreign ownership of land and businesses.

Investigators divided the findings into two separate groups.

The first involves 10 companies believed to have operated through nominee arrangements. These businesses were linked to four land plots covering approximately 3,450 square metres, with a combined estimated value of 116 million baht.

As part of the investigation, the court approved 13 arrest warrants covering 12 foreign nationals. Authorities executed 10 of those warrants, resulting in the arrest of nine suspects: five Israeli nationals, two French nationals, one Dutch national, and one Russian national.

The second group consists of 39 companies in which foreign shareholders reportedly owned more than 50% of the business. Investigators are examining 52 land plots covering around 20,250 square metres with an estimated value of 115 million baht. The court also authorized 29 search warrants to collect additional evidence and summon individuals for questioning.

In total, officials have investigated 56 land plots covering approximately 24,700 square metres, with an estimated combined value of 231 million baht.

A major focus of the operation is the dismantling of the so-called G-Mat corporate network, which allegedly operated across several business sectors in Phuket.

According to investigators, G-Mat Co. was involved in hotels, resorts, condominium developments, and motorcycle rental services. Aba Co. reportedly operated restaurants and cannabis shops, while Fitness Co. managed gyms and fitness centres.

Authorities said the investigation remains ongoing as they continue gathering evidence and pursuing legal action against individuals and companies suspected of violating Thai laws governing foreign ownership and nominee business structures.