Fintech, or financial technology, is innovating the manner in which financial companies are making their services available to the public, aided by digital technologies. In Thailand, these types of business activities have been emerging gradually and the industry had been constantly developing and evolving.
The types of fintech activities in Thailand include those related to payments, credit and lending and personal finance. Our team of experts highlights some of these activities and can help all investors interested in company formation in Thailand.
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The fintech ecosystem in Thailand
Financial technology has enjoyed an important global growth in the last years and Thailand, together with the rest of Asia, have been no strangers to this rapid development. Fintech startups combine the use of technology with financial services in order to improve the overall financial services industry.
The table below shows some examples of fintech activities in Thailand and offers a brief description for each one of them.
|Type of activity||Details|
|Accounting||Software that allows for a flexible, convenient and secure client management process. Most of these software offer solutions for automated accounting.|
|Payment or mobile wallet||Companies that offer mobile payment solutions and mobile wallet services. They can target suppliers and merchant and/or consumer payments.|
|Personal finance||A financial services company at the tip of your fingers, via mobile. These companies provide solutions both for corporate clients and for individuals.|
|Digital banking||Services offered to banks as a solution to modernize the manner in which they serve their customers. Includes software, data processing, and others.|
The Thai company formation process for these types of companies will include the same basic steps as for any other type of company. Investors can seek specialized assistance from one of our experts.
How to open a fintech company in Thailand
The steps for company formation in Thailand are as follows:
- choose and reserve a business name;
- select the proper type of legal entity;
- prepare the company documents;
- register the company with the Department of Business Development and the tax authorities.
Our team of agents who specialize in company registration in Thailand can help you with more details and assistance, as needed. We can also provide services for international fintech companies looking to set up a branch in Thailand.
Contact us for complete guidance in opening a Thai fintech company.