Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the licence grant, including banking and payment rails.
Get a crypto license in Thailand.
Southeast Asia's most active retail crypto market runs on six licence types under the SEC, and its boldest incentive anywhere: personal gains realised through licensed operators are tax-exempt until the end of 2029. We build the file end to end.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Thailand in brief
A licensing pioneer that now pays you to be licensed.
Thailand wrote Asia's first dedicated crypto statute - the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), and runs it through a clean division of labour: the SEC supervises and recommends, the Minister of Finance grants the licences. Six business types are licensed: exchange, broker, dealer, investment advisor, fund manager and custodial wallet provider, alongside ICO-portal and issuer approvals. The SEC maintains public registers of every licensee, polices unlicensed foreign platforms with blocking orders and criminal referrals, and consults publicly on upgrades - crypto ETFs among the 2026 topics.
What makes 2026 special is the incentive stack. The government exempted personal capital gains on crypto sold through licensed operators from income tax for five years - from 1 January 2025 to 31 December 2029 - an explicit policy to pull volume onshore and reward the licensed perimeter. Add VAT relief on licensed transfers, a 20% corporate rate, and one of Asia's most engaged retail bases, and Thailand's licences buy something rare: a market where the state actively routes demand toward licence-holders. That, plus enforcement against the unlicensed, is exactly the combination worth filing for.
Asia's pioneer statute: six licences under the Emergency Decree B.E. 2561 - SEC vets, the Minister of Finance grants, registers are public.
The hook: personal gains through licensed operators are tax-exempt 2025-2029 - state policy routing volume to licence-holders.
The six types
One decree, six licences - scoped to your model.
The Emergency Decree licenses each function separately: venues, intermediaries, managers and custodians. Groups typically combine two or three. We fix the set first, then build once.
Six functions licensed separately. Exchange, broker, dealer, advisor, fund manager, custodian.
01 - EXCHANGE · BROKER · DEALER
Trading & intermediation
The market-facing licences: the exchange for order-book venues, the broker for client intermediation, the dealer for own-account trading. Granted by the Minister of Finance on SEC recommendation.
The market-facing licences: the exchange for order-book venues, the broker for client intermediation, the dealer for own-account trading. Granted by the Minister of Finance on SEC recommendation.
- ✓Digital asset exchange - order-book venue
- ✓Broker - routing and client intermediation
- ✓Dealer - own-account market-making
- ✓Baht rails through Thai banks
- ✓SEC-vetted systems and governance
- ✓Public register entry per licence
02 - ADVISOR · MANAGER · CUSTODY
0% personal gains to 2029Advisory, funds & custody
The institutional layer: investment advisors, digital asset fund managers and custodial wallet providers. Completing the stack for wealth, funds and safekeeping in a market whose retail gains are tax-exempt through licensed channels.
The institutional layer serving the tax-exempt licensed perimeter.
- ✓Investment advisor - digital asset advice
- ✓Fund manager - portfolios and funds
- ✓Custodial wallet provider - safekeeping
- ✓ICO portal and issuer approvals alongside
- ✓Serves the tax-exempt licensed perimeter
- ✓Institutional clients and funds onboarded
Costs and timelines are confirmed for your case before any work begins. Capital requirements are set by SEC notifications per licence type; application, systems and local-substance costs are itemised in your quote.
Why Thailand
The state routes demand to the licensed.
The framework is the Emergency Decree B.E. 2561, supervised by the SEC with licences granted by the Minister of Finance, and a tax policy built to reward the perimeter.
✓
0% personal gains - through you
Gains realised through licensed operators are income-tax-exempt from 2025 through 2029. State policy that makes the licensed venue the rational choice for every Thai investor. Volume follows.2025-2029; volume follows the exemption.
✓
Asia's pioneer statute
The 2018 Emergency Decree predates most of the world's regimes. Practice, precedent and supervisory experience run deeper here than almost anywhere in the region.2018. Deepest practice in the region.
✓
Six composable licences
Exchange, broker, dealer, advisor, fund manager, custodian. The decree licenses functions, and groups assemble the stack their model needs under one supervisor.Assemble the stack your model needs.
✓
Real enforcement
The SEC blocks unlicensed foreign platforms, refers operators for prosecution and publishes actions. The licence's value is defended, not diluted.Blocking orders defend the perimeter.
✓
A deeply engaged retail base
Thailand ranks among the world's most active retail crypto markets. The demand side exists; the exemption now channels it onshore.Among the world's most active.
✓
A regulator that keeps building
Public consultations run continuously. Crypto ETFs among the 2026 topics, and the registers, alerts and rules are published openly. The desk is alive.Crypto-ETF consultations in 2026.
How it compares
How Thailand differs from other routes.
Thailand pairs a mature statute with the region's most aggressive pro-licence incentive. The full comparison is below.
Thailand vs other jurisdictions
| Feature |  Thailand | Other jurisdictions |
|---|---|---|
| Regulatory regime | 6 licences - Decree B.E. 2561 | Single-licence regimes |
| Personal gains (licensed) | 0% to end-2029 | Taxed at 8-33% |
| Statute age | 2018 - Asia's pioneer | 2023-25 newcomers |
| Enforcement | Blocking + prosecutions | Varies widely |
Regulatory regime
Thailand6 licences - Decree B.E. 2561
Other jurisdictionsSingle-licence regimes
Personal gains (licensed)
Thailand0% to end-2029
Other jurisdictionsTaxed at 8-33%
Statute age
Thailand2018 - Asia's pioneer
Other jurisdictions2023-25 newcomers
Enforcement
ThailandBlocking + prosecutions
Other jurisdictionsVaries widely
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Thailand | 6 DA licences (SEC/MoF) | 20% CIT · 0% personal to 2029 | Mature desk, real enforcement |
 Singapore | MAS licences (PSA/FSM) | 17% CIT · no CGT | 9-12+ months, selective |
 Malaysia | RMO-DAX (SC) | 24% CIT · no CGT | Curated market, fit & proper |
 UAE (Dubai) | VARA VASP by activity | 9% CIT · 0% personal | Substance-heavy, 3-9 months |
ThailandLicense type6 DA licences (SEC/MoF)
Taxation20% CIT · 0% personal to 2029
RequirementsMature desk, real enforcement
SingaporeLicense typeMAS licences (PSA/FSM)
Taxation17% CIT · no CGT
Requirements9-12+ months, selective
MalaysiaLicense typeRMO-DAX (SC)
Taxation24% CIT · no CGT
RequirementsCurated market, fit & proper
UAE (Dubai)License typeVARA VASP by activity
Taxation9% CIT · 0% personal
RequirementsSubstance-heavy, 3-9 months
Before you apply
Requirements for a digital asset licence.Requirements for a DA licence.
The SEC vets, the Minister grants, and the file must satisfy both. The checklist below is what a passing application contains.
01
Thai entity. A locally incorporated company; foreign groups license through a Thai subsidiary with proper shareholding structure.
02
Capital. Minimum registered capital per licence type under SEC notifications, sized to your set of licences.
03
Fit & proper directors and major shareholders. Clean records, financial standing, ownership to UBOs.
04
Governance. Board, responsible executives and compliance arrangements the SEC can interrogate.
05
Systems. Trading, wallet and key-management architecture meeting SEC technology standards, with audits.
06
Client asset rules. Segregation of client baht and digital assets, custody arrangements per SEC requirements.
07
AML/CFT programme. KYC, monitoring and reporting per AMLO standards, with a named compliance officer.
08
Business plan. Volumes, fees and unit economics for each licence sought.
09
Local presence. Office, staff and management in Thailand, reachable by the supervisor.
10
ICO-adjacent plans. Portal or issuer approvals filed separately where the roadmap includes offerings.
01
Thai company, compliant shareholding.
02
Capital per SEC notifications by type.
03
Fit & proper directors and holders.
04
Governance the SEC can interrogate.
05
Systems per SEC technology standards.
06
Segregated client baht and assets.
07
AMLO-grade AML with named officer.
08
Business plan per licence sought.
09
Local office and management.
10
ICO approvals filed separately.
Reflects the Emergency Decree B.E. 2561 and SEC notifications as of 2026. Unlicensed service to Thai clients draws blocking orders and criminal referral.Decree B.E. 2561 + SEC notifications, as of 2026.
How it works
From first call to the SEC register.
01
Perimeter and strategy
Which of the six licences your model needs, and in what sequence. Fixed in writing with capital and timeline.Which licences, what sequence - in writing.
02
Thai company and substance
Local incorporation, shareholding structure, office and the people the SEC vets.Thai entity, office, vetted people.
03
The application file
Business plan, systems and custody documentation, AML programme. Assembled to SEC notifications.To SEC notifications, complete first.
04
SEC review and MoF grant
Question rounds with the SEC, then the Minister of Finance's grant on its recommendation - 6-10 months in practice.6-10 months in practice.
05
Licence and operation
Public register entry, launch under supervision, and the reporting calendar we can keep running.Register entry, launch, reporting.
Quick facts
RegulatorSEC Thailand
Licences granted byMinister of Finance
FrameworkDecree B.E. 2561 (2018)
Licence types6
In practice6-10 months
Corporate tax20%
Personal gains (licensed)0% · 2025-2029
RegistersPublic, SEC-maintained
The exemption applies to gains through licensed operators only. The perimeter is the product.
On the ground in Thailand
Run from our Bangkok office.
Prifinance - Thailand
Bangkok · Thailand
Bangkok, Thailand
01
Thai company formation
Local incorporation with compliant shareholding, registered office and the governance the SEC expects. Structured for licensing.Compliant structure, built for licensing.
02
The licence file
Business plan, systems documentation, fit-and-proper dossiers and AML pack. Drafted by us and defended through SEC review to the Minister's grant.SEC review to MoF grant - managed.
03
Substance and staffing
Directors, compliance and operations hires in Bangkok. Assembled pragmatically, at Thai cost.Bangkok hires at Thai cost.
04
The licensed-perimeter strategy
Product and marketing built around the 2025-29 exemption. The argument that brings Thai volume onshore to you.Product built around the exemption.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in Thailand.
A 20% corporate rate on the business, and a five-year exemption that routes the country's retail gains through licensed venues.
Corporate tax 20%
The standard rate on platform, brokerage and custody profits, with SME tiers below. Ordinary deductions and 60+ treaties apply.SME tiers below; 60+ treaties.
0% personal gains - 2025-2029
Capital gains on crypto sold through licensed operators are exempt from personal income tax from 1 January 2025 to 31 December 2029. The region's most direct pro-licence incentive.Licensed venues only - by decree.
VAT relief on licensed transfers
Digital-asset transfers through the licensed perimeter carry VAT exemption. The 7% rate touches ordinary supplies, not the traded product.Licensed transfers exempt; 7% standard.
Withholding mechanics
The 15% withholding on digital-asset gains is disapplied within the licensed exemption framework. Payouts through licensed venues run clean for individuals.Disapplied within the exemption.
Funds and institutions
Licensed fund managers and custodians serve a market whose net-of-tax mathematics now favour onshore products. The institutional layer benefits twice.Onshore products win net-of-tax.
After 2029
The exemption window is policy, not constitution. We build models that are profitable within it and viable beyond it, and track extensions as they are debated.Models built viable beyond the window.
Tax summary
Corporate tax20%
Personal gains (licensed)0% · to 31 Dec 2029
Personal gains (unlicensed)Taxable + enforcement
VAT (licensed transfers)Exempt
Standard VAT7%
Tax treaties60+
*Per the 2025 royal decree and Revenue Department practice as of 2026. The exemption runs through licensed operators only.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Thai company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed business.
Follow Prifinance
Active across our channels.
Thailand · SEC
Launch your crypto project in Thailand with expert support.
Full-service assistance - from company registration to the licence grant and ongoing compliance.
Get a consultation →Free legal opinion
Is Thailand the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Thai crypto licence: quick answers.
What licences exist in Thailand?+
Six digital asset business licences under the Emergency Decree B.E. 2561: exchange, broker, dealer, investment advisor, fund manager and custodial wallet provider - granted by the Minister of Finance on the SEC's recommendation, with ICO portals and issuers approved alongside.
How does the 0% exemption work?+
Personal capital gains on crypto sold through licensed operators are exempt from income tax from 1 January 2025 to 31 December 2029 - a deliberate policy to route volume onshore. Gains through unlicensed platforms enjoy no such treatment.
How long does licensing take?+
Complete files run 6-10 months through SEC review and the Minister's grant - with systems documentation and fit-and-proper vetting the usual pacing items.
What substance is expected?+
A Thai company with compliant shareholding, local office and management, capital per SEC notifications for each licence type, segregated client assets and systems that pass SEC technology standards.
Can foreign groups hold Thai licences?+
Yes - through Thai subsidiaries with properly structured shareholding; several licensed operators carry international backing. We structure the entity to satisfy both the SEC and foreign-business rules.
How are companies taxed?+
20% corporate income tax with ordinary deductions; VAT exemption covers licensed digital-asset transfers, and the treaty network spans 60+ countries.
What happens to unlicensed platforms?+
Blocking orders, public alerts and criminal referrals - the SEC enforces the perimeter actively, which is precisely what preserves the licence's value.
Which licences should we combine?+
Exchanges typically add broker and custody; wealth models pair advisor and fund manager. The decree licenses functions, so the stack follows your model - we scope it in the first call.
What is the SEC consulting on now?+
The desk keeps evolving - 2026 consultations include crypto ETF frameworks, and the SEC publishes hearings openly. We track them so your file anticipates rather than reacts.
Why Thailand rather than Singapore or Malaysia?+
Singapore is selective and slow; Malaysia is curated and small. Thailand offers Asia's most engaged retail base with a state incentive that actively routes gains through licence-holders until 2029 - a demand-side argument no other desk in the region can make.
What licences exist?+
Six - exchange to custodial wallet provider.
The 0% exemption?+
Licensed-venue gains, 2025-2029.
How long?+
6-10 months to the MoF grant.
Substance?+
Thai entity, local office, SEC-vetted people.
Foreign groups?+
Yes - structured Thai subsidiaries.
Company taxes?+
20% CIT; VAT-exempt licensed transfers.
Unlicensed platforms?+
Blocked and prosecuted.
Which combination?+
Stack follows your model - scoped first.
What's new?+
Crypto-ETF consultations, 2026.
Why Thailand?+
The state routes demand to licence-holders.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
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Google
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Google
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Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which Thai licences fit your project and what they will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Securities and Exchange Commission of Thailand or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.