According to the publication, law enforcement officers conducted searches at 41 locations. Registration documents, accounting records, computers, and phones were seized.
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They were advertised as Russian villages
The investigation is related to residential complexes with a total value of about 154 million USD. These properties were advertised as “Russian villages.” Investigators are checking whether Thai citizens were used as nominal shareholders to conceal foreign control in companies and circumvent restrictions on land ownership and business operations.
According to police data, to manage approximately 775 houses in five residential complexes, more than 495 companies were registered, of which 435 had foreign shareholders. 33 companies became the subject of the investigation.
Investigators believe that 19 companies may have used nominal Thai shareholders, while foreign participation in another 14 companies exceeded established limits. Law enforcement agencies are examining the role of two Thai accountants who were registered as shareholders of 186 companies. Investigators will have to determine whether they invested their own funds or formally held shares on behalf of foreign citizens.
Circumventing restrictions on foreigners owning land
As noted by “The Nation,” the investigation in Chonburi is part of a nationwide campaign against schemes using nominal owners, allowing foreigners to circumvent the ban on owning land and engaging in certain types of business. Police stated that inspections will be expanded.
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Similar measures were previously taken in the spring in Bali, Indonesia. The island’s governor, I. Wayan Koster, reported that the authorities dismantled so-called Russian and Ukrainian villages – areas densely populated by foreigners that formed after the mass relocation of Russian and Ukrainian citizens.
According to the governor, foreigners actively invested in real estate and established businesses, but such settlements contradict local regulations and the island’s cultural policy. After inspections, the authorities closed unregistered properties and tightened control over land use and villa rentals.
At the end of 2024, Bali police detained Andre Frey, the founder of the “PARQ Ubud” apartment complex, whom local media called the creator of the “Russian village.” According to the investigation version, the complex was built in violation of land use rules on agricultural land, writes “The Moscow Times.”
In recent years, Bali authorities have also tightened control over how foreigners comply with migration laws. Among the most common reasons for deportation of Russian citizens are illegal work, conducting business without the necessary permits, and violations of residence rules.
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