Crackdown in Phuket: How to Safely Own Property and Business
Phuket is currently seeing an uptick in large-scale government inspections targeting foreign investors and business owners. The Department of Business Development (DBD), alongside law enforcement, is cracking down on the use of Thai nominee shareholders. Companies registered under fake local shareholders to bypass restrictions on business ownership and land purchases are under heavy scrutiny. Using nominees carries severe risks, including criminal liability, asset seizure, and the voiding of transaction contracts.
Against this backdrop, experts strongly urge property buyers to strictly adhere to Thai real estate laws.
Legitimate Ways for Foreigners to Own Property
Freehold (Outright Ownership): Available to foreigners buying condominium units under the 49% foreign quota of the building’s total residential space. Availability depends on the developer, project terms, and quota capacity.
Leasehold (Long-Term Lease): The primary ownership structure for units exceeding the foreign quota, as well as for villas and apartments.
Land: Direct land ownership by foreign individuals is prohibited under Thai law. The only legal way to secure a plot is through a 30-year Leasehold with a lawful option to extend for another 30 years in the future. Relying on nominee companies to acquire land currently carries critical legal risks.
Secure Investments with Unimpeachable Reputation
Our clients and investors have nothing to fear from these inspections. Mutti Development is backed by shareholder Big Man Asset, a major Thai developer with nearly 17 years of history and a flawless track record. A transparent corporate structure and full compliance with Thai law guarantee absolute legal clarity for all our developments. You can learn more about our partner and completed projects at bigmanasset.com.
Mutti Development provides guaranteed, fully legal processing for all real estate transactions. Our experts navigate every legal nuance and restriction to keep your investment completely secure for years to come.
Phuket is currently seeing an uptick in large-scale government inspections targeting foreign investors and business owners. The Department of Business Development (DBD), alongside law enforcement, is cracking down on the use of Thai nominee shareholders. Companies registered under fake local shareholders to bypass restrictions on business ownership and land purchases are under heavy scrutiny. Using nominees carries severe risks, including criminal liability, asset seizure, and the voiding of transaction contracts.
Against this backdrop, experts strongly urge property buyers to strictly adhere to Thai real estate laws.
Legitimate Ways for Foreigners to Own Property
Freehold (Outright Ownership): Available to foreigners buying condominium units under the 49% foreign quota of the building’s total residential space. Availability depends on the developer, project terms, and quota capacity.
Leasehold (Long-Term Lease): The primary ownership structure for units exceeding the foreign quota, as well as for villas and apartments.
Land: Direct land ownership by foreign individuals is prohibited under Thai law. The only legal way to secure a plot is through a 30-year Leasehold with a lawful option to extend for another 30 years in the future. Relying on nominee companies to acquire land currently carries critical legal risks.
Secure Investments with Unimpeachable Reputation
Our clients and investors have nothing to fear from these inspections. Mutti Development is backed by shareholder Big Man Asset, a major Thai developer with nearly 17 years of history and a flawless track record. A transparent corporate structure and full compliance with Thai law guarantee absolute legal clarity for all our developments. You can learn more about our partner and completed projects at bigmanasset.com.
Mutti Development provides guaranteed, fully legal processing for all real estate transactions. Our experts navigate every legal nuance and restriction to keep your investment completely secure for years to come.
