Thailand Launches Nationwide Crackdown on Illegal Nominees: Legal Risks and Supreme Court Precedents泰國啟動全國性打擊非法代持：法律風險與最高法院判例分析
On 19 October 2026, Thailand's Prime Minister Anutin Charnvirakul announced a nationwide expansion of the crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings.
2026 年 10 月 19 日，泰國總理阿努廷·參威拉恭宣布在全國範圍內擴大打擊外資企業與土地持有中的非法泰籍代持股東（人頭股東）。
This unified national initiative aims to protect national interests and enforce the rule of law.
這項全國性的統一行動旨在保護國家利益並維護法治。
To achieve this, the Thai government has introduced three key measures:
為達成此目標，泰國政府推出了三項關鍵措施：
1. Targeting Illegal Foreign Operations: Cracking down on dishonest businesses involved in tax evasion and transnational crimes, enforcing forced sales of illegally acquired properties, and implementing asset seizures.
打擊非法外資營運： 嚴厲打擊涉及逃漏稅與跨國犯罪的不法企業，對非法取得的財產執行強制出售與資產扣押。
2. Auditing Suspect Land and Building Holdings: Conducting strict audits on high-risk land ownership schemes to prevent illegal nominees from transferring property titles to third parties.
審查可疑的土地與建築物持有： 對高風險的土地所有權架構進行嚴格審查，防止非法代持人將財產所有權移轉給第三方。
3. Establishing an Integrated Monitoring System: Implementing a cross-departmental monitoring system that cross-references data from law enforcement, tax authorities, and land officials. The goal is to trace Ultimate Beneficial Owners (UBOs) and financial trails behind official deeds and shareholding documents.
建立跨部門整合監控系統： 建立一個交叉比對執法部門、稅務機關與土地官員資料的監控系統。目標是追蹤官方契約和股權文件背後的最終受益所有人 (UBOs) 與資金流向。
The "Fake Loan" Trap: Supreme Court Judgment No. 1523/2565
「虛假借款」的陷阱：最高法院第 1523/2565 號判例
To understand the severe consequences of utilizing illegal land nominees, foreign investors must look at recent Thai legal precedents. A common loophole foreigners use is purchasing land through a Thai nominee and forcing them to sign a "Loan Agreement" to secure the asset.
為了瞭解使用非法土地代持人的嚴重後果，外國投資者必須參考泰國近期的法律判例。外國人常用的一個漏洞是透過泰國代持人購買土地，並強迫他們簽署「借款協議」以確保資產安全。
However, in Supreme Court Judgment No. 1523/2565 (2022), the court ruled that such practices are entirely invalid.
然而，在最高法院第 1523/2565 號判決(2022年)中，法院裁定此類做法完全無效。
In this case, a foreign national provided funds to a Thai partner to buy land and made the partner sign a 2.4 million THB loan agreement.
在該案件中，一名外籍人士提供資金給泰國伴侶購買土地，並要求伴侶簽署一份 240 萬泰銖的借款協議。
The Supreme Court ruled that the loan was a "disguised transaction" designed intentionally to circumvent the Land Code, which prohibits foreigners from owning land.
最高法院裁定，該借款屬於「掩飾交易」，其目的是故意規避禁止外國人擁有土地的《土地法》。
Consequently, the loan agreement was declared legally void, and the foreign investor could not sue to enforce the loan or reclaim the money.
因此，該借款協議被宣告在法律上無效，外國投資者無法透過訴訟執行該借款或追回資金。
Legal Analysis: The Deadly Intersection of the New Policy and the Court Precedent
法律分析：新政策與法院判例的致命交集
When analyzing the Prime Minister's new crackdown measures alongside this Supreme Court judgment, the legal risks for foreign investors are multiplied:
將總理最新的打擊措施與最高法院的判決結合分析，外國投資者面臨的法律風險將成倍增加：
Financial Trails Will Be Exposed: Previously, foreign investors believed that setting up "fake loans" or registering rights of superficies could legally hide the nominee relationship. With the government's new Integrated Monitoring System, authorities will explicitly audit "financial trails" and tax records. These fake loan structures will easily be flagged as suspicious.
資金流向將無所遁形： 過去，外國投資者認為設立「虛假借款」或登記地上權可以合法掩蓋代持關係。隨著政府推出新的跨部門整合監控系統，當局將明確審查「資金流向」與稅務紀錄，這些虛假的借款架構將輕易地被標記為可疑。
Zero Legal Protection: Once authorities uncover the nominee structure, the precedent set by Judgment No. 1523/2565 will immediately apply. Foreign investors will face a catastrophic double blow: they will face criminal prosecution by the state, and civil courts will deny them any legal remedy to recover their funds or properties. You cannot enforce a contract that is fundamentally illegal.
零法律保護： 一旦當局揭發代持架構，第 1523/2565 號判例的標準將立即適用。外國投資者將面臨災難性的雙重打擊：不僅會面臨國家的刑事起訴，民事法院也會拒絕提供任何法律救濟來追回他們的資金或財產。因為你無法執行一份本質上非法的合約。
Recommendation for Foreign Investors:
給外國投資者的建議：
Foreign investors are strongly advised to abandon high-risk nominee structures. Instead, businesses should utilize legal investment frameworks such as obtaining a Foreign Business License or applying for Board of Investment (BOI) promotions to ensure full compliance and protect their investments in Thailand.
強烈建議外國投資者放棄高風險的代持架構。企業應利用合法的投資框架 例如取得外商營業執照或申請泰國投資促進委員會 (BOI) 優惠 以確保完全合規並保護其在泰國的投資。
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