The Department of Business Development linked Land Department records with its company registry and found 36,277 Thai-registered companies with foreign shareholders holding title deeds nationwide. 31,516 of them have foreign stakes of 49% or less and remain Thai legal entities. The department says a foreign stake under 49% is legal, but it will screen for nominee arrangements where Thai shareholders hold shares with money that is really foreign. The focus is Bangkok, surrounding provinces and 10 tourist provinces, where 35,154 such companies are concentrated. If your company has foreign shareholders or buys or leases property through a company, check that the Thai shareholders genuinely invest and run the business, and keep records of funding sources. Nothing new is required yet, but scrutiny is coming.