Thailand has become one of the most popular destinations for foreign investments in the fintech sector. The vibrant economic market and high technology available in the main cities in Thailand are some of the main factors which determine entrepreneurs to come in Thailand and set up here a new company.
Our experts in company registration in Thailand can help you establish a cryptocurrency firm and present you with the opportunities offered by the Thai legal framework.
Read below if you need more information about the Thailand crypto exchange license, as well as other issues concerning the current regulatory regime.
Quick Facts | |
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Cryptocurrency seen as legal tender (Yes/No) | No |
Local regulatory agency | The Office of the Securities and Exchange Commission (SEC) |
Special licenses for those who open a cryptocurrency company in Thailand | Public token offerings and the operation of digital asset businesses is regulated – special approvals are required |
Special licenses for crypto exchanges in Thailand | Licensed by the Ministry of Finance (MOF), under recommendations from the SEC |
Anti-money laundering rules | Certain types of businesses must comply with the Anti-money laundering rules (AML) |
Special requirements for investors who open a cryptocurrency company in Thailand | Restrictions apply in terms of foreign company ownership. Exemptions apply when the foreign national obtains a foreign business license |
Residency requirements for investors | Temporary residence (business visa and work permit) is issued to those who have a business approved by the Board of Investment |
Types of companies used by those who open a cryptocurrency company in Thailand | Private and public limited companies |
Minimum capital for a cryptocurency company in Thailand | THB 2 million when applying for a foreign business license |
Minimum number of shareholders | 3 for the private limited company |
Minimum number of directors | 1 for the private limited company |
Business license | Foreign Business License for companies with a majority of non-Thai shareholders |
Mandatory requirements for the cryptocurrency company | Approval from the MOF and SEC, as per its business activities |
Cryptocurrency company taxation | Income derived via trading or exchanging digital assets is subject to the general corporate tax rules The corporate income tax rate in Thailand is 20% |
Reasons to open a cryptocurrency company in Thailand | Access to the ASEAN market A large internal market A number of well-developed business sectors, such as tourism |
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The digital assets sector is undergoing important developments, with both established investors and emerging companies entering the market.
The cryptocurrency and blockchain markets still offer many new opportunities.
The Thai state invests in seminars and events which have the purpose to inform investors and educate the market in order to ensure the safe and healthy development of the cryptocurrency sector in Thailand.
Cryptocurrency allows for multiple types of business ideas and activities. Two of the most popular ones are companies that provide technological infrastructures for mining virtual money and for cryptocurrency transactions, and wallet providers, which store information and ensure the safety of the transactions.
A Thailand crypto exchange license is required, and it is referred to as a special license for a digital asset business.
Our consultants in company formation in Thailand can answer your questions regarding the main steps you need to make in order to establish a cryptocurrency company in this country.
The Securities and Exchange Commission, along with the Minister of Finance, are the ones responsible for the issuance of the digital asset business license.
This license is required for those who will engage in digital asset exchanges, for digital asset brokers and dealers. The Royal Decree on the Digital Asset Business is the one governing the licensing of the three types of recognized digital asset businesses, as previously mentioned.
It should also be noted that, according to law, a distinction is made between cryptocurrency and digital tokens. The first is created to serve as a medium of exchange for the purchase of goods, services, or other rights.
Some of the most important conditions to obtain the Thailand crypto exchange license are listed below:
Our Thai company formation agents can give you more details about these requirements for the Thailand crypto exchange license.
In addition to the conditions listed above, investors should also keep in mind the following fees:
Please keep in mind that the fees above can be subject to change. Our team can provide you with information as needed.
Below are four cryptocurrency business ideas in Thailand that you can use if you are interested in Thai company formation and plan of dealing with virtual currencies as the main business scope.
The setup of a cryptocurrency business should begin with a name reservation and should continue in compliance with the provisions of the Thai Commercial Code.
Our team lists a brief guide below:
The guidelines presented above are in line with the requirements set forth by the Department of Business Development and the Ministry of Commerce.
Once investors have selected their preferred type of business and have drawn up a business plan, the Thailand company formation process can begin.
Feel free to contact our specialists in company registration in Thailand in order to help you gather the required documentation for the registration of your cryptocurrency firm in Thailand.
Investors who wish to know more about the regulatory regime for companies involved with dealing with digital assets can contact us for details.
We assist local and foreign investors who wish to open a company and we also provide services related to virtual offices in Thailand.
You can also contact us if you wish to purchase a shelf company.