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Obtaining a Financial License in Thailand

Obtaining a Financial License in Thailand

Companies have to obtain a financial license in Thailand when they provide certain types of services such as those related to baking and insurance.

Our experts in company formation in Thailand can assist investors who need to obtain a license for financial activities. Our team can offer additional information and assistance upon request.

What companies need to apply for a financial license in Thailand?

The Office of the Securities and Exchange Commission (SEC) is the body responsible with licensing and supervising financial companies in Thailand. The SEC issues guidelines and new norms for doing business in the financial sector, with the aim of supporting the country’s continued development as a financial hub.

Companies that engage in one or more of the following types of activities need to obtain a financial license in Thailand:

  • Financial institutions;
  • Foreign exchange institutions;
  • Electronic money services providers;
  • Consumer finance services providers;
  • Investment advice companies;
  • Trading in securities, securities borrowing/lending;
  • Fund management activities.

Additionally, a separate type of financial license in Thailand is issued to companies that conduct digital asset activities. Investors who open a cryptocurrency company and will be involved in the operation of digital tokens can ask our team questions about the requirements in this sector.

In Thailand, there is a distinction between local and foreign businesses. The latter need to obtain a foreign business license before they can engage in any type of activities, including ones related to providing financial assistance, services, or solutions.

Foreign investors in Thailand can find out more about the requirements that apply in their case from our team specializing in Thailand company formation.

Entrepreneurs who have already established their companies can rely on the solutions provided by our accountants in Thailand for complete services.

What are the main conditions for obtaining a financial license in Thailand?

When setting up a company that offers financial services, the founders have to comply with the essential requirements of the said subsector.

The following conditions are in place for to companies that apply for a securities business license:

  • Have a minimum paid-up registered capital;
  • Have a sound financial status;
  • Be able to maintain investments and maintain reserved according to the legal requirements;
  • Have directors and shareholders who have the necessary qualifications and are not prohibited from fulfilling their role;
  • Meet the requirements for the annual fees.

The SEC also has a fast-track licensing option suitable for applicants who wish to obtain a license for dealing in securities/derivatives. The following are essential:

  • They are a company in the same group that has been operating a securities or derivatives business in Thailand for at least five years;
  • Are supervised by a regulator that is a member of the International Organization of Securities Commissions (and meets other criteria);
  • They have a business model that offers benefits to the capital market (and complies with other conditions).

Examples of fees for companies that require a Thai financial license

Companies in the financial sector must meet certain business standards and maintain a paid up capital that meets the level of risk for their operations.

The following minimum paid up requirements apply according to business operations:

  • 10 million baht for companies that offer mutual fund or private fund services that do not preserve their clients’ assets;
  • 25 million baht for mutual fund or private fund companies that preserve their clients’ assets;
  • 1 million baht for many other types of activities.

Our team can help you with full assistance during the application process for a financial license in Thailand. If you would like to know more about how to open a company in Thailand that offers financial services, please contact us.