Transcript of the above video: 

As the title of this video suggests, we are discussing the Land Code here in Thailand, as well as recent developments with so-called nominee setups here in Thailand on corporations. As I've discussed in other videos, there is a major crackdown going on in Thailand. This has been raised to the level of a national security concern in light of recent developments regarding nominee structures here in Thailand, as well as Immigration implications associated therewith. The new Parliament and the new Prime Minister have ordered a top to bottom review of all matters pertaining to Immigration in Thailand, so big news, a lot going on here. 

That said, we are talking specifically about land holding companies, and I've discussed this in other videos. With very narrow exceptions, it's pretty much unacceptable in Thailand to utilize a corporate structure to circumvent the rules against foreign nationals owning land. I thought of making this video after reading a recent article from the Pattaya Mail, that is pattayamail.com, the article is titled: The wake-up call from Koh Phangan: A paradigm shift in Thailand's regulatory enforcement. Under the subheading: The existential risk asset liquidation and forfeiture. Quoting directly: "Perhaps the most harrowing aspect of this regulatory tightening is the impact on real estate. Under Section 96 of the Land Code, any land held by a company found to be a Nominee Structure is subject to Compulsory (correction) Divestment." What does that mean? They are going to strip the land; they are going to force you to sell it, or they are going to take it, seize it. Quoting further: "If a Court determines that a company was established as a "Proxy" for foreign land ownership, the Director-General of the Land Department has the authority to order the sale of that land within a period of 180 days to one year. Failure to comply leads to the state selling the asset via public auction. For investors who have poured millions into luxury villas or commercial developments, this represents a Zero-Value risk. The "Phangan Precedent" proves that the state is now willing to trigger these dormant legal mechanisms to protect national land integrity." 

Well I wouldn't say they are that dormant. I remember years back, there was actually, they appointed a specific special investigator at the Land Office that was going through - and I think it was a lot more difficult at the time, because it was much more of an analog system - but they were going through it and they were finding these structures and they were oftentimes it was my recollection they would dissolve them and then they would seize the land. As I have talked about in other videos, due to AI, due to the increased computational capabilities of all these new sort of devices and data analytics systems, Thai Authorities are now able to cross-reference all sorts of data and more quickly ascertain than ever before, whether or not a corporation is legitimate, especially as a pertains to real estate. And I think that this is important to note because I think that this trend is a sea change. I just think that the era of being able to sort of hide via colour of law structures one's ownership, effective ownership of Thai property is at an end. They just have the capability of seeing it and clearly there is the will at policy-making levels to deal with this problem. It's my understanding, the Prime Minister was just recently down in Koh Phangan specifically to have a look and see what is going on with this issue. 

So I don't think this is going away and if anything, those who are looking to purchase property or to gain some sort of benefit to via property, things like leases, Usufructs etc., if you are doing it the right way, you probably will be secure in whatever investment you make. But if you're going to be yessed to death effectively - as I have talked about in other videos - by quite honestly a lot of charlatans and just sometimes outright fake lawyers here on Thailand, you are going to find yourself in a bad way especially as it pertains to land ownership through corporate structures here in the Kingdom of Thailand.