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 Minister's licence, including banking and payment rails.
Get an investment license in Thailand.
A licence signed by a minister, on a clock the regulation prints. The Securities and Exchange Commission reviews a securities-business application within 90 days and the Minister of Finance decides within 60 more under clause 15 of the Ministerial Regulation B.E. 2551 - Type ก for the full list of activities, ข for debt securities, ค for fund management, ง for brokerage of investment units, and single licences for investment advisory, securities borrowing and lending and venture capital management. Paid-up capital under SEC Notification Kor Thor. 25/2560 runs from 1 million baht for advisory through 25 million for fund management to 100 million for dealing, underwriting or clearing; licence fees are printed, 30,000 baht for advisory and 20,000,000 baht for Type ก. Corporate tax is 20%, dividends to foreign companies bear 10%, and the SIPF covers 1 million baht per investor per broker. The home market is 70.3 million people at the 2025 census.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Thailand in brief
Four licence types, a minister's signature, and fees you can read.
Thailand defines securities business in section 4 of the Securities and Exchange Act B.E. 2535 (1992), amended to No. 6 of B.E. 2562: brokerage, dealing, investment advisory, underwriting, mutual fund management, private fund management, and what the Minister adds on the SEC's recommendation - securities borrowing and lending, venture capital management. The Ministerial Regulation B.E. 2551 packages them into four licence types. Type ก carries the whole list. Type ข limits the same activities to debt securities and sukuk. Type ค covers fund management with brokerage, dealing and underwriting of investment units; Type ง is brokerage of units and trust certificates alone; single licences exist for advisory, securities lending and venture capital management. Capital follows the activity under SEC Notification Kor Thor. 25/2560: 100 million baht where the firm deals, underwrites, holds client assets or clears; 25 million for fund management; 10 million for fund management serving institutional investors only; 1 million for everything else, investment advisory included.
The clock is statutory, twice over. Clause 15 of the Ministerial Regulation, as amended, gives the SEC 90 days from a complete application to recommend and the Minister of Finance 60 days to decide; clause 16(2) requires the licensee to start business within 180 days of the licence. The fee list is printed with the Regulation: 30,000 baht to apply, then 20,000,000 baht for a Type ก licence, 5,000,000 for ข or ค, 30,000 for ง, advisory or securities lending. The annual fee under Kor Mor. 24/2562 is 0.001% of business volume for brokerage, dealing, underwriting and fund management, between 25,000 baht and 10 million, or a flat 25,000 for advisory. One caution: the SEC's own summary now prints custody at 25 million baht where the 2017 notification says 100 million - we confirm the figure with the SEC before the file opens. Tax is 20%, with 10% withheld on dividends to foreign companies. We build from Bangkok.
A minister's licence on a printed clock: Type ก to ง and single licences under the SEA B.E. 2535 - 1 million baht for advisory, 25 million for fund management, 100 million for dealing or underwriting (Kor Thor. 25/2560); SEC 90 days plus Minister 60 under clause 15; fees 30,000 to 20,000,000 baht.
20% corporate tax, 10% dividend withholding, SIPF cover of 1 million baht per investor, 70.3 million people at the 2025 census. Built end to end from Bangkok.
The two builds
The single licence at 1 million baht - or Type ก at 100 million.
The Ministerial Regulation sells the securities business by the piece or whole: an investment advisory or private fund management licence on its own, or Type ก with every activity in section 4 behind a 100 million baht capital line and a 20,000,000 baht fee. We fix the type first, then build once.
The 1 million baht single licence - or Type ก at 100 million.
01 - SINGLE LICENCE · ADVISORY OR PRIVATE FUND
The single-activity firm
One activity from section 4 on its own licence: investment advisory at 1 million baht of paid-up capital under Kor Thor. 25/2560, a 30,000 baht application fee, a 30,000 baht licence fee and a flat 25,000 baht a year - or private fund management at 25 million baht (10 million for institutional clients only), whose licence fee is not on the Regulation's fee list and is confirmed with the SEC before filing.
One activity from section 4 on its own licence: investment advisory at 1 million baht of paid-up capital under Kor Thor. 25/2560, a 30,000 baht application fee, a 30,000 baht licence fee and a flat 25,000 baht a year - or private fund management at 25 million baht (10 million for institutional clients only), whose licence fee is not on the Regulation's fee list and is confirmed with the SEC before filing.
- ✓Investment advisory - 1,000,000 baht paid-up capital
- ✓Private fund management - 25,000,000 baht · 10,000,000 institutional-only
- ✓Application 30,000 baht · advisory licence 30,000 baht
- ✓Annual fee - 25,000 baht flat for advisory · 0.001% of volume for fund management
- ✓SEC 90 days + Minister 60 days (clause 15)
- ✓Start business within 180 days (clause 16(2))
02 - TYPE ก · FULL SECURITIES BUSINESS
100 million baht paid-up capitalThe full-scope securities company
Every activity in section 4 - brokerage, dealing, underwriting, investment advisory, mutual and private fund management, securities borrowing and lending, venture capital management - on one Type ก licence: 100 million baht of paid-up capital for dealing, underwriting, custody or clearing, a 20,000,000 baht licence fee, an annual fee of 0.001% of business volume capped at 10 million baht, and the Net Capital Rule with early warning at 1.5 times the minimum.
Every section 4 activity on one licence - 100 million baht capital, a 20,000,000 baht fee, 0.001% of volume a year, NCR early warning at 1.5x.
- ✓All section 4 activities on one licence
- ✓100,000,000 baht - dealing, underwriting, custody, clearing
- ✓Licence fee 20,000,000 baht · application 30,000 baht
- ✓Annual fee 0.001% of volume · 25,000 baht to 10 million
- ✓NCR early warning at 1.5x minimum, daily reporting
- ✓Type ข at a 5,000,000 baht fee for debt securities and sukuk only
Costs and timelines are confirmed for your case before any work begins. Fees follow the list attached to the Ministerial Regulation and Kor Mor. 24/2562; the paid-up capital tiers are checked against the SEC's current summary, which prints custody at 25 million baht, and confirmed with the SEC before filing.
Why Thailand
Six reasons managers file in Bangkok.
Thailand sells a statutory clock, a printed fee and a 1 million baht advisory tier - with a minister's signature at the end.
✓
A clock in the regulation
Clause 15 gives the SEC 90 days from a complete application and the Minister of Finance 60 days after that - two periods you can hold the file to, not a processing estimate.90 + 60 days, clause 15.
✓
A fee list you can read
30,000 baht to apply, 30,000 for an advisory or SBL licence, 5,000,000 for Type ข or ค, 20,000,000 for Type ก - printed with the Ministerial Regulation, at rates in force since 1 January 2555.30,000 to 20,000,000 baht.
✓
One million baht to advise
Investment advisory and other non-custodial activities need 1 million baht of paid-up capital under Kor Thor. 25/2560 - the lowest licensed entry in the market, with a flat 25,000 baht annual fee.The advisory tier.
✓
70.3 million people
The resident population at the 2025 census, on the NSO's preliminary results of 28 January 2026 - served by 41 securities brokerage companies and 49 private fund managers on the SEC's list.The 2025 census.
✓
20% and 10%
Corporate income tax of 20%, a 15% band for small companies, and 10% withholding on dividends to foreign companies under the Revenue Code - with financial services outside the 7% VAT and inside a 3% specific business tax.Tax and dividend withholding.
✓
The tiers moved, quietly
The 2017 notification prices custody at 100 million baht while the SEC's current summary prints 25 million. No foreign-ownership limit appears in the Regulation, and the Act's shareholding sections are applied per structure. We confirm both with the SEC before filing.Custody 25m, notification unfound.
How it compares
How Thailand differs from other routes.
The honest comparison: a printed clock and a 1 million baht tier - against Jakarta's 30 working days, Taipei's NT$20 million SICE and Seoul's KRW 250 million advisory registration.
Thailand vs other jurisdictions
| Feature |  Thailand | Other jurisdictions |
|---|---|---|
| Regime | SEA B.E. 2535 - SEC review, Minister of Finance grants | OJK licence Indonesia · FSC permit and licence Taiwan |
| Capital | THB 1m advisory · 25m funds · 100m dealing | Rp1bn-Rp110bn Indonesia · NT$20m-400m Taiwan |
| Scope | Domestic market, no passport | Indonesia, Taiwan, Korea: onshore only, no passport |
| Timeline | 90 days SEC + 60 days Minister (clause 15) | 30 working days Indonesia · 2 + 1 months Taiwan · 3 / 2 months Korea |
Regime
ThailandSEA B.E. 2535 - SEC review, Minister of Finance grants
Other jurisdictionsOJK licence Indonesia · FSC permit and licence Taiwan
Capital
ThailandTHB 1m advisory · 25m funds · 100m dealing
Other jurisdictionsRp1bn-Rp110bn Indonesia · NT$20m-400m Taiwan
Scope
ThailandDomestic market, no passport
Other jurisdictionsIndonesia, Taiwan, Korea: onshore only, no passport
Timeline
Thailand90 days SEC + 60 days Minister (clause 15)
Other jurisdictions30 working days Indonesia · 2 + 1 months Taiwan · 3 / 2 months Korea
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Thailand | SEC - Type ก to ง · single licences | 20% · 10% dividend WHT | THB 1m-100m by activity · 90 + 60 days |
 Indonesia | OJK perusahaan efek - PEKU 1-3 · MIKU 1-2 | 22% (UU 7/2021) · OJK levy 0.975-3% | Rp1bn-Rp110bn PEKU · Rp25-50bn MIKU · 30 working days |
 Taiwan | FSC - SICE / SITE / securities firm | 20% · 5% undistributed surtax | NT$20m SICE · NT$300m SITE · 2 + 1 months |
 South Korea | FSC authorisation / registration - FSCMA | 9-24% by band | KRW 250m advisory · KRW 1.5bn discretionary · 3 / 2 months |
ThailandLicense typeSEC - Type ก to ง · single licences
Taxation20% · 10% dividend WHT
RequirementsTHB 1m-100m by activity · 90 + 60 days
IndonesiaLicense typeOJK perusahaan efek - PEKU 1-3 · MIKU 1-2
Taxation22% (UU 7/2021) · OJK levy 0.975-3%
RequirementsRp1bn-Rp110bn PEKU · Rp25-50bn MIKU · 30 working days
TaiwanLicense typeFSC - SICE / SITE / securities firm
Taxation20% · 5% undistributed surtax
RequirementsNT$20m SICE · NT$300m SITE · 2 + 1 months
South KoreaLicense typeFSC authorisation / registration - FSCMA
Taxation9-24% by band
RequirementsKRW 250m advisory · KRW 1.5bn discretionary · 3 / 2 months
Before you apply
Requirements for the Thai licence.Requirements for the licence.
The SEC recommends and the Minister signs; both look at capital, standing and people before the 90 days start. The checklist below is what a complete application contains.
01
Thai company - a limited company or public limited company, an existing securities company, a commercial bank or a life insurer, or a newly established company (Ministerial Regulation clauses 4-11).
02
Paid-up registered capital - 100 million baht for dealing, underwriting, client-asset custody or clearing, 25 million for fund management, 10 million for institutional-only fund management, 1 million otherwise (Kor Thor. 25/2560); the custody figure re-checked against the SEC's 25 million summary.
03
Financial standing - appropriate to the business applied for, judged by the SEC under clause 11 alongside the capital floor.
04
Net Capital Rule - liquid assets above liabilities from day one, with early warning and daily reporting once NC or NCR falls to 1.5 times the minimum and restricted operations below it.
05
Approved executives - directors, managers and persons with management power qualified and approved under SEC notifications before the licence is used.
06
Licensed personnel - fund managers and investment analysts holding SEC personnel licences for the activity.
07
Client-asset segregation - client assets held and recorded separately from the company's own under the SEC's custody rules.
08
Fees at filing - 30,000 baht per application, then the licence fee: 20,000,000 baht for Type ก, 5,000,000 for ข or ค, 30,000 for ง, advisory or securities borrowing and lending.
09
The 180-day start - business under the licence must begin within 180 days of grant (clause 16(2)), so banking, systems and SET membership are built in parallel.
10
Annual fee - 0.001% of business volume for brokerage, dealing, underwriting and fund management, minimum 25,000 baht and maximum 10 million, payable by 31 January (Kor Mor. 24/2562, clause 14); 25,000 baht flat for advisory.
01
Thai company, clauses 4-11.
02
Capital 1m to 100m baht.
03
Financial standing, clause 11.
04
NCR live, 1.5x warning.
05
Executives approved.
06
Personnel licensed.
07
Client assets segregated.
08
Fees at filing.
09
Start within 180 days.
10
Annual fee by 31 January.
Reflects the Securities and Exchange Act B.E. 2535, the Ministerial Regulation B.E. 2551 as amended and the SEC notifications cited, as of 2026. Executive-approval notification numbers and residency rules are confirmed per case with the SEC.SEA B.E. 2535 + Ministerial Regulation B.E. 2551, as amended.
How it works
From first call to the Minister's licence.
01
The licence type
Type ก to ง or a single licence - activity list and capital tier fixed in writing first.Fixed in writing.
02
Company and capital
Thai company formed, paid-up capital at 1, 10, 25 or 100 million baht evidenced, executives approved.Evidenced, approved.
03
The SEC application
Filed complete with the 30,000 baht fee - the 90-day recommendation period starts only when the SEC has everything.Complete, 30,000 baht.
04
SEC and Minister
90 days at the SEC, 60 days at the Ministry of Finance under clause 15 - queries answered on the clock.90 + 60 days.
05
Licence and launch
Licence fee paid, SET and SIPF onboarding done, business started within 180 days under clause 16(2).Started within 180 days.
Quick facts
RegulatorSEC · Minister of Finance grants
Type ก capital100,000,000 baht
Fund management25m · 10m institutional-only
Advisory and other1,000,000 baht
Application fee30,000 baht
Licence fee20m ก · 5m ข/ค · 30,000 ง and advisory
Statutory clock90 + 60 days · start within 180
Population70.3 million (2025 census)
Two statutory periods and no published processing statistics against them - the SEC's 90 days run from a complete application, so completeness on day one is the whole game.
On the ground in Thailand
Run from our Bangkok office.
Prifinance - Thailand
Bangkok · Thailand
Bangkok, Thailand
01
Type and tier
Type ก, ข, ค, ง or a single licence - decided against the real activity list and the 1 million to 100 million baht capital line before the company is formed.Chosen to the activity list.
02
The SEC file
Application, business plan, capital evidence and executive approvals prepared to the SEC's application standard - complete on the day the 90 days start.Complete on day one.
03
People and capital
Directors and managers approved, fund managers and analysts licensed, paid-up capital and the Net Capital Rule computation live before filing.Approved, licensed, paid.
04
Minister to market
The 60-day ministerial stage tracked, licence fee paid, SET membership and SIPF cover arranged - trading inside the 180-day window.Live within 180 days.
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 investment firms in Thailand.
A flat 20% with a printed withholding rate - and financial services routed out of VAT into a specific business tax.
Corporate tax 20%
20% on net profit under the Revenue Code - the rate on the Revenue Department's English page, for every company above the SME thresholds.Flat, above SME thresholds.
The SME band
A company with paid-up capital of 5 million baht or less and turnover of 30 million or less pays nothing on the first 300,000 baht of profit, 15% to 3 million and 20% above - relevant to an advisory firm at the 1 million baht tier.300,000 exempt, 15% to 3m.
10% on dividends abroad
Withholding of 10% on dividends paid to foreign companies - printed by the Revenue Department, reduced where a treaty applies.Dividends to foreign companies.
VAT 7%, finance outside it
The general VAT rate is 7%, but banking and finance business sits outside VAT and pays specific business tax at 3% plus a 10% municipal surcharge on that tax.Finance outside, SBT 3%.
0.1% on securities sales
Specific business tax of 0.1% on the sale of securities is the statutory rate, with exemptions that apply in practice - the dealer's model carries it until the exemption is confirmed.On securities sales.
No sector levy
Nothing beyond the SEC's annual fee: 0.001% of business volume between 25,000 baht and 10 million, or 25,000 baht flat for an advisory licence.SEC annual fee only.
Tax summary
Corporate tax20% · SME 15% band
Dividend withholding10% to foreign companies
VAT7% · finance outside
Specific business tax3% finance · 0.1% securities sales
Sector levyNone · SEC annual fee
*Figures as of 2026 per Thai law and the Revenue Department. Treaty relief and specific business tax exemptions are modelled per structure.
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 firm.
Follow Prifinance
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Thailand · SEC
Launch your investment firm in Thailand with expert support.
Full-service assistance - from the Thai company and paid-up capital to the SEC application, the Minister's licence and the 180-day launch - run through our Bangkok office.
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Request a free conclusion →FAQ
The Thai investment licence, answered.
What licence does an investment firm need in Thailand?+
A securities business licence under the Securities and Exchange Act B.E. 2535, granted by the Minister of Finance on the SEC's recommendation: Type ก for every activity in section 4, ข for debt securities and sukuk, ค for fund management and investment units, ง for brokerage of units, or a single licence for advisory, securities lending or venture capital.
What capital is required?+
Paid-up registered capital under SEC Notification Kor Thor. 25/2560: 100 million baht for dealing, underwriting, client-asset custody or clearing; 25 million for mutual or private fund management; 10 million for fund management serving institutional investors only; 1 million for other activities, investment advisory included.
Did the capital tiers change?+
The SEC's current regulatory summary prints custody at 25 million baht where the 2017 notification says 100 million, keeping 100 million for clearing and settlement obligations. The two texts differ, so the tier for your activity list is confirmed with the SEC before the file opens.
How long does licensing take?+
Clause 15 of the Ministerial Regulation, as amended, gives the SEC 90 days from a complete application to recommend and the Minister of Finance 60 days to decide - five months on paper. The SEC publishes no processing statistics, and the periods run only from a complete file.
What are the fees?+
30,000 baht per application, then a licence fee of 20,000,000 baht for Type ก, 5,000,000 for ข or ค, 30,000 for ง, investment advisory or securities borrowing and lending. Annually, 0.001% of business volume between 25,000 baht and 10 million for brokerage, dealing, underwriting and fund management, or 25,000 flat for advisory.
Is there an investor compensation scheme?+
Yes - the Securities Investor Protection Fund run by the Stock Exchange of Thailand pays actual damages up to 1 million baht per investor per member broker when the broker is adjudicated insolvent or fails to honour an arbitration award to return client property; price losses are excluded.
How are Thai investment firms taxed?+
20% corporate income tax, with a 15% band for small companies; 10% withholding on dividends to foreign companies; financial services outside the 7% VAT and inside a 3% specific business tax plus 10% municipal surcharge; 0.1% specific business tax on securities sales, subject to exemptions.
Can a foreign group own the Thai securities company?+
The Ministerial Regulation states no foreign-shareholding restriction, and the applicant may be a newly established company - but the Act's own shareholding sections apply on top of the Regulation, so ownership above the level your structure needs is confirmed in writing with the SEC before incorporation. There is no passport.
Thailand or Indonesia for a new firm?+
Indonesia licenses in 30 working days, lets a foreign securities firm hold 99%, opens a marketing-only broker at Rp1 billion and serves 270.20 million people, but levies 3% of an investment manager's revenue; Thailand takes 90 plus 60 days, advises at 1 million baht and prints 20% tax with 10% withholding. Scale: Jakarta. An advisory or private fund book: Bangkok.
Why Prifinance for Thailand?+
We fix the licence type against your activity list, form the Thai company with capital and executive approvals in place, and file an application the SEC accepts as complete on day one so the 90 and 60 days actually run - from our Bangkok office with Dubai behind it.
What licence?+
Type ก to ง or single.
Capital?+
1m to 100m baht.
Tiers changed?+
Custody 25m, confirmed.
How long?+
90 + 60 days.
Fees?+
30,000 to 20m baht.
Compensation?+
SIPF 1m baht.
Taxes?+
20%, 10% WHT.
Foreign owners?+
No limit in Regulation.
Or Indonesia?+
30 days vs 1m baht tier.
Why you?+
Complete on day one.
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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Google
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