Police arrest four Russians and seize 5 billion baht in Chonburi property nominee raids

Senior police officials and the Chonburi governor launched a major operation on July 17, raiding 41 locations to dismantle a massive foreign nominee property network. According to The Pattaya News and the Bangkok Post, authorities arrested four Russian nationals and seized real estate holdings—including 775 homes—valued at over 5 billion baht.

This raid is the latest and largest in a rapidly accelerating nationwide crackdown on foreigners using Thai citizens as proxy shareholders to bypass foreign business and land ownership laws.

The sweeps are not limited to Chonburi. In recent days, the Department of Special Investigation (DSI) and local police have executed similar raids across the country's major expat and tourist hubs.

Nationwide sweeps hit the islands

On the southern islands, authorities have raided a Chinese-backed investment network in Koh Samui and Koh Phangan, according to the Thai Examiner. Meanwhile, in Phuket, officials have expanded their probe to 391 companies and uncovered unlicensed hotels linked to nominee structures, reports Nation Thailand.

The crackdown is also catching operators near the capital. Earlier this week, two Thais and five Taiwanese nationals were arrested in Pathum Thani for operating an illegal nominee network, according to the Bangkok Post.

What this means for you

If you are an expat living in Thailand, the era of turning a blind eye to legally grey company structures appears to be ending. The Department of Business Development (DBD) has officially ordered financial-trail checks in 16 "risk provinces," according to Nation Thailand.

If you own property or operate a business through a Thai company, you should immediately review your corporate structure. Authorities are specifically looking for:

• Financial trails: Proof that Thai shareholders actually paid for their shares with their own legitimate funds.
• Voting rights: Structures where foreign minority shareholders hold disproportionate voting power or dividend rights.
• Ghost offices: Registered company addresses with no actual business operations or employees.

Foreigners found guilty of violating the Foreign Business Act through nominee structures face severe penalties, including asset seizure, heavy fines, and deportation. If your property is held in a company where the Thai shareholders did not legitimately invest their own capital, consult a qualified Thai lawyer to discuss restructuring options before the DBD audits reach your province.