HUA HIN, Thailand – Authorities in Hua Hin are tightening their probe into suspected nominee business structures, deploying a joint task force to root out cases where Thai nationals act as frontmen for foreign investors.
Top officials gathered on July 30 at Hua Hin Police Station to set operating guidelines for the new investigation unit. Police Major General Songprod Sirisukha, commander of Immigration Division 3, ordered his officers to work closely with Provincial Police Region 7 and local police.
Over 2,000 companies in the crosshairs
Police Colonel Torawong Pitakoson, deputy commander of the Region 7 investigation division, chaired the meeting. The intensified probe follows an announcement in May that more than 2,000 companies in Hua Hin with foreign investment may face closer inspection.
Figures from the Department of Business Development (DBD) reveal the scale: Hua Hin district has 4,162 limited liability companies. Exactly half of those — 2,081 firms — involve foreign investors.
British and Swedish lead the list
Only 35 companies have foreign shareholders holding 50 percent or more of shares. The vast majority — 2,046 firms — show foreign stakes between 0.01 and 49.99 percent.
The most common nationalities: British investors are tied to 355 firms, followed by Swedes with 231, French with 174, Germans with 128, and Norwegians with 125.
What lies behind nominee schemes
Such an arrangement exists when Thais hold shares or entire companies on paper, but a foreigner provides the capital and takes control or profit. The mere presence of Thai and foreign shareholders is not illegal by itself.
These structures often serve to bypass restrictions on foreign business activities or land acquisition. They violate Thailand’s Foreign Business Act, which explicitly bans the use of Thai frontmen.
Where investigators are looking now
Authorities are now checking the origin of investment funds and whether Thai shareholders had the financial means to buy their shares themselves. The key question is who actually controls the company and who benefits economically.
The DBD has dramatically tightened its checks since January 2026. Sectors under special focus include tourism, real estate, hotels, and construction — all industries heavily infiltrated by foreign capital.
Investigations continue
The task force will now systematically identify people, firms, and locations possibly linked to nominee structures. The checks are ongoing.
Authorities stress that the mere existence of Thai and foreign shareholders in a company is not illegal.