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Thailand Cracks Down on Foreign-Owned Businesses, Targets Israeli Operations
Thailand has launched a crackdown on foreign-owned businesses violating ownership laws, focusing on Israeli-linked operations in southern tourist areas. Authorities arrested an Israeli on Koh Phangan and shut down an unlicensed resort, while investigations continue into companies using Thai proxies.
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What happened
- 01Thailand enforces laws limiting foreign business ownership to 49 percent, targeting illegal proxy arrangements.
- 02Investigations focus on southern tourist areas, including Phuket and Koh Samui, with Israeli-linked businesses under scrutiny.
- 03An Israeli was arrested on Koh Phangan for allegedly using fake Thai shareholders to control land for a resort.
- 04A resort connected to Israelis was closed for operating without a proper license.
- 05Authorities also investigate companies linked to Chinese investors and local facilitators like lawyers and accountants.
- 06The Ministry of Commerce states the crackdown is broad, not exclusively targeting Israelis.
The Ministry of Commerce stressed the campaign targets investors from multiple countries and local collaborators.
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