Using Thai nominees to own land or companies is a serious criminal offense.
Under the Foreign Business Act B.E. 2542 (1999), using a Thai national as a nominee to circumvent foreign ownership restrictions is punishable by up to 3 years in prison, a fine of 100,000 – 1,000,000 THB, and forced divestment of the asset.
• "Everyone does it, it's safe" • Setting up Thai company with passive Thai shareholders holding 51% • Shareholders who never meet, never invest, never receive dividends • Loan agreements pre-signed by Thai shareholders • Lawyer pressures you to decide quickly • Cash-only payments, no proper invoices
• Buy a condo (up to 49% of the building) — fully legal for foreigners • 30-year registered lease with clear terms (no "rollover" promises) • Thai spouse ownership with proper premarital declaration • BOI-promoted company with real business operations • Long-term resident (LTR) visa with benefits