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 of Finance's licence, including banking and payment rails.
Get a payment license in Thailand.
Thailand's payment rules sit in the Payment Systems Act B.E. 2560 and a Ministry of Finance notification of 17 April 2018 that names which services are licensed and which are registered. Card services, electronic money, the receiving-payment family and electronic money transfer all need a licence, granted by the Minister of Finance on the Bank of Thailand's proposal. Paid-up capital runs from THB 10 million for the smaller services to THB 50 million for acquiring and THB 100 million for electronic money. The central bank has 60 business days to consider a complete licence application and 30 for a registration, and the applicant is a Thai-registered company with at least one Thai-national director domiciled in Thailand.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Thailand in brief
A licence signed by the finance minister, a 60-business-day clock, and capital by service.
The Payment Systems Act B.E. 2560 came into force in 2017 and left the perimeter to the Ministry of Finance. Its notification of 17 April 2018 lists the designated payment services. Clause 2 puts four of them on the licence track: credit, debit and ATM card services; electronic money, other than single-merchant and food-centre schemes; the receiving-payment family of acquiring, payment facilitating and receiving payment on behalf of merchants; and electronic money transfer, domestic and cross-border. Clause 3 puts two on the registration track: multi-merchant electronic money whose six-month average monthly balance of money received in advance reaches THB 50 million, and innovative services being tested in the central bank's regulatory sandbox. Designated payment systems carry their own licence - inter-institution fund transfer, payment card networks and settlement systems. The paid-up capital figures come from Bank of Thailand notification SorNorChor. 5/2561: THB 100 million for electronic money, THB 50 million for acquiring, and THB 10 million each for the other two receiving-payment services and for electronic money transfer. For card services the notification prints no figure at all.
Applications go to the central bank, which proposes, and to the Minister of Finance, who grants. The bank has 60 business days from a complete and correct licence application and 30 business days for a registration; its own handbook breaks the licence window into one day of document checking, 29 days of assessment, parallel 20-day reviews by the anti-money-laundering office and the securities regulator, and the ministry's approval. The applicant is a limited or public limited company registered in Thailand, or a financial institution, and needs at least one director of Thai nationality domiciled in Thailand. Money received in advance for electronic money is kept apart from working capital and deposited with a commercial bank or a specialised financial institution, in an account free of obligations, used for nothing but settlement of that service, at a balance never below the outstanding float; a valid redemption request is paid within 15 days. The notification sets no per-wallet balance or transaction cap. PromptPay, introduced in 2016, moves retail money by citizen ID or mobile number. Corporate tax is 20%, with 15% for a small company on part of its profit, VAT at 7% and 10% withholding on dividends paid to a foreign company.
Payment Systems Act B.E. 2560 plus the Ministry of Finance notification of 17 April 2018, which names the designated payment services. Licensed under Clause 2: card services, electronic money, acquiring and the other receiving-payment services, and electronic money transfer. Registered under Clause 3: multi-merchant e-money at a THB 50 million six-month average float, and services tested in the central bank sandbox.
Capital under SorNorChor. 5/2561: THB 100 million e-money, THB 50 million acquiring, THB 10 million for the smaller services; nothing printed for cards. Thai company with one Thai-national director domiciled in Thailand. Float in a separate bank account, refunds in 15 days. Sixty business days, then the minister signs.
The routes
Licensed services, registered services - and the payment systems.
The Ministry of Finance notification of 17 April 2018 sorts the market. Four service families are licensed, two are registered, and the payment systems are licensed separately with their own capital figures.
Four licensed service families, two registered ones, and the payment systems.
01 - LICENSED PAYMENT SERVICE
Designated payment services under Clause 2
A licence granted by the Minister of Finance on the central bank's proposal for card services, electronic money, the receiving-payment family and electronic money transfer. Paid-up capital follows the service, and the bank has 60 business days from a complete and correct application.
A licence granted by the Minister of Finance on the central bank's proposal for card services, electronic money, the receiving-payment family and electronic money transfer. Paid-up capital follows the service, and the bank has 60 business days from a complete and correct application.
- ✓Electronic money - paid-up capital THB 100,000,000
- ✓Acquiring service - THB 50,000,000
- ✓Payment facilitating service - THB 10,000,000
- ✓Receiving payment on behalf of merchants - THB 10,000,000
- ✓Electronic money transfer, domestic and cross-border - THB 10,000,000
- ✓Card services - no capital figure printed in the notification
02 - REGISTERED SERVICE
Registration - 30 business daysClause 3 registrations, and the payment systems
Registration with the central bank covers multi-merchant electronic money whose six-month average monthly balance of money received in advance reaches THB 50 million, and innovative services being tested in the regulatory sandbox. Designated payment systems take a licence of their own.
Registration: multi-merchant e-money at a THB 50M average float, or a sandbox service; systems at THB 50M, 50M and 200M.
- ✓Multi-merchant e-money at a THB 50M six-month average balance
- ✓Innovative services in the Bank of Thailand sandbox
- ✓Decision within 30 business days of a complete application
- ✓Inter-institution fund transfer system - THB 50,000,000
- ✓Payment card network - THB 50,000,000
- ✓Settlement system - THB 200,000,000
Costs and timelines are confirmed for your case before any work begins. Applications filed before 2019 carried no fee and later ones are charged at rates the central bank announces, so state charges, the float account and substance are itemised in your quote.
Why Thailand
A published clock, capital that starts at THB 10 million, and a retail rail everyone already uses.
Thailand is the rare Asian regime that tells you how long the review takes and then breaks the window down publicly, department by department. The capital ladder starts low enough for a single-service applicant.
✓
Sixty business days, published
The central bank considers a complete licence application and proposes to the minister inside 60 business days, and 30 for a registration. Its handbook prints the internal split as well.60 business days, 30 to register.
✓
Capital by service
THB 10 million each for the three smallest services on the list, THB 50 million for acquiring, THB 100 million for electronic money. A single-service applicant enters low.From THB 10 million.
✓
One float rule, no percentage games
Money received in advance sits apart from working capital in a bank account free of obligations, used only for settlement, at a balance never below the outstanding float.Separate account, full balance.
✓
Refunds inside 15 days
A valid redemption request is paid within 15 days of the user submitting it, which is the number the product terms have to carry.Written into the product terms.
✓
PromptPay
The central bank's retail rail, introduced in 2016, moves money by citizen ID, mobile number or account number at lower fees. Any consumer product is designed against it.Retail rail since 2016.
✓
One Thai director, no ownership cap found
The payment notifications set no general foreign-ownership limit. What they do set is at least one director of Thai nationality domiciled in Thailand.No ownership cap found.
How it compares
How Thailand differs from the other Southeast Asian routes.
Thailand and Indonesia both publish clocks and capital tables; the difference is who signs, how long it takes, and what the rules say about ownership. The honest comparison is below.
Thailand vs other jurisdictions
| Feature |  Thailand | Other jurisdictions |
|---|---|---|
| Capital | THB 100M e-money · 50M acquiring · 10M others | IDR 15bn in Indonesia, PHP 100-200M in the Philippines |
| Decision clock | 60 business days licence · 30 registration | 5 + 20 business days in Indonesia |
| Client funds | Separate bank account at the full outstanding balance | Trust at 50% or more in the Philippines |
| Corporate tax | 20% · 15% for a small company | 22% Indonesia · 24% Malaysia · 25% Philippines |
Capital
ThailandTHB 100M e-money · 50M acquiring · 10M others
Other jurisdictionsIDR 15bn in Indonesia, PHP 100-200M in the Philippines
Decision clock
Thailand60 business days licence · 30 registration
Other jurisdictions5 + 20 business days in Indonesia
Client funds
ThailandSeparate bank account at the full outstanding balance
Other jurisdictionsTrust at 50% or more in the Philippines
Corporate tax
Thailand20% · 15% for a small company
Other jurisdictions22% Indonesia · 24% Malaysia · 25% Philippines
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Thailand | Licence / registration (BOT · MOF) | 20% · 15% small | THB 100M e-money · 60 business days |
 Indonesia | PJP licence (Bank Indonesia) | 22% · VAT 11% effective | IDR 15bn / 5bn / 500m · 51% domestic control |
 Malaysia | E-money (BNM) | 24% CIT | Trust account, 2025 PD |
 Philippines | EMI (BSP) | 25% · 20% small | PHP 100-200M, trust at least 50% |
ThailandLicense typeLicence / registration (BOT · MOF)
Taxation20% · 15% small
RequirementsTHB 100M e-money · 60 business days
IndonesiaLicense typePJP licence (Bank Indonesia)
Taxation22% · VAT 11% effective
RequirementsIDR 15bn / 5bn / 500m · 51% domestic control
MalaysiaLicense typeE-money (BNM)
Taxation24% CIT
RequirementsTrust account, 2025 PD
PhilippinesLicense typeEMI (BSP)
Taxation25% · 20% small
RequirementsPHP 100-200M, trust at least 50%
Before you apply
Requirements for the Thai licence.Requirements for the licence.
The act sets the perimeter, the Ministry of Finance notification names the services, and the central bank's notifications SorNorChor. 5/2561 and 7/2561 set the capital, the procedure and the float rules. The checklist below is what a passing file contains.
01
A limited company or public limited company registered in Thailand, or a financial institution, with objects that cover the payment service applied for.
02
At least one director of Thai nationality domiciled in Thailand, unless the applicant is a financial institution, a specialised financial institution or a state enterprise.
03
Registered and paid-up capital at the SorNorChor. 5/2561 figure: THB 100 million for electronic money, THB 50 million for acquiring, THB 10 million for payment facilitating, for receiving payment on behalf of merchants and for electronic money transfer.
04
For a designated payment system, THB 50 million for an inter-institution fund transfer system or a payment card network and THB 200 million for a settlement system, with the highest figure governing a combined application.
05
A sound financial position, no revoked authorisation behind the applicant, and no conviction for fraud, money laundering or terrorism financing.
06
For electronic money, money received in advance kept apart from working capital and deposited with a commercial bank or a specialised financial institution in an account free of any obligations.
07
That account used for nothing but settlement of the electronic money service, at a balance never below the outstanding balance of money received in advance.
08
Redemption terms that pay a valid request within 15 days of the user submitting it.
09
A complete and correct application, since the 60-business-day licence clock and the 30-business-day registration clock only start from one.
10
Room in the plan for the anti-money-laundering office and the securities regulator, which review in parallel inside the licence window before the file reaches the Minister of Finance.
01
Thai limited or public company, or a financial institution.
02
One Thai-national director domiciled in Thailand.
03
Capital THB 100M / 50M / 10M by service.
04
Systems: THB 50M, 50M or 200M.
05
Sound finances; no revocation or convictions.
06
Float apart from working capital.
07
Bank account free of obligations, settlement only.
08
Refunds within 15 days of a valid request.
09
A complete and correct application.
10
AMLO and securities reviews inside the window.
Reflects the Payment Systems Act B.E. 2560, the Ministry of Finance notification of 17 April 2018 and Bank of Thailand notifications SorNorChor. 3/2561, 5/2561 and 7/2561, as of 2026.Payment Systems Act B.E. 2560; MOF notification of 17 April 2018; BOT notifications SorNorChor. 3/2561, 5/2561 and 7/2561.
How it works
From first call to the ministry's licence.
01
Service and capital
Which designated service, licence or registration, and therefore THB 10, 50 or 100 million - the route and budget fixed in writing.Which service, therefore which figure.
02
Company and directors
Thai company formed with the right objects, capital paid up, and the Thai-national director domiciled in Thailand appointed.Formed, paid up, Thai director.
03
The application file
SorNorChor. 5/2561 documents, the float and settlement design, AML policies, and the bank's self-assessment checklist answered line by line.Documents, float design, AML.
04
Central bank review
Sixty business days from a complete application, with the anti-money-laundering and securities reviews running in parallel - plan on six to nine months end to end.60 business days; 6-9 months realistic.
05
Ministerial licence and launch
The minister signs on the bank's proposal, the float account goes live, and the reporting calendar starts.Minister signs; float account live.
Quick facts
RegulatorBank of Thailand · Minister of Finance signs
LawPayment Systems Act B.E. 2560
RoutesLicence · registration · payment systems
CapitalTHB 100M / 50M / 10M
Decision60 business days · 30 registration
Client fundsSeparate account, full outstanding balance
Timeline6-9 months realistic
Corporate tax20% · VAT 7%
The 60 business days start from a complete and correct application, not from the day you file. Getting the checklist right at the first attempt is what keeps the licence inside the clock.
Your Thailand desk
Run from our Asia-Pacific desk.
Prifinance - Asia-Pacific desk
Dubai · coordinating Thai mandates
33 Level, Al Saqr Business Tower, Dubai
01
Thai company formation
A limited or public limited company with objects covering the service, paid-up capital at the notification figure and one Thai-national director domiciled in Thailand.Objects, capital, Thai director.
02
The BOT file
The application built to SorNorChor. 5/2561 and the bank's self-assessment checklist, so the 60-business-day clock starts on the first filing.SorNorChor. 5/2561 and the checklist.
03
Float and refunds
The separate deposit account at a commercial bank or specialised financial institution, and product terms that refund a valid request inside 15 days.Separate account; 15-day terms.
04
Substance in Thailand
Directors, a compliance function and premises in Bangkok, with the anti-money-laundering review planned for rather than reacted to.Directors, compliance, Bangkok premises.
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 payment companies in Thailand.
Corporate income tax at 20% on net profit, a small-company band at 15%, VAT at 7% and 10% withholding on dividends paid to a foreign company that does not carry on business in Thailand.
Corporate tax 20%
The rate on net profit for a Thai company. It applies from the first baht for a licensee capitalised above the small-company threshold, which every e-money applicant is.On net profit.
Small company 15%
A company with paid-up capital under THB 5 million pays 15% on net profit from THB 300,000 to THB 3 million, and 20% above that.Capital under THB 5 million.
VAT 7%
The current rate, with zero-rating for exports and registration once annual turnover passes THB 1.8 million. Which of your fees are financial and which are technology is mapped before pricing.Threshold THB 1.8 million.
Dividends 10%
Withholding on dividends paid to a foreign company not carrying on business in Thailand, before treaty relief.To foreign companies.
Other outbound income 15%
Interest, royalties, capital gains, rents and professional fees paid to the same foreign companies are withheld at 15%; remitting profit abroad carries 10%.Profit remittance 10%.
Payroll
Salaries and social security on Bangkok hires - the operating budget prices them in with the compliance function.Salaries + social security.
Tax summary
Corporate tax20% · 15% small company
VAT7% · registration above THB 1.8M
Dividend withholding10%
Other outbound income15%
Profit remittance10%
PayrollSalaries + social security
*Figures as of 2026 per the Revenue Department. Treaty positions are assessed 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 limited 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 provider.
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The Thai payment licence, answered.
What licence does a payment business need in Thailand?+
A licence for a designated payment service under the Payment Systems Act B.E. 2560, granted by the Minister of Finance on the Bank of Thailand's proposal. The Ministry of Finance notification of 17 April 2018 lists which services are licensed and which are registered.
Which services are licensed and which are registered?+
Clause 2 licenses card services, electronic money, the receiving-payment family of acquiring, payment facilitating and receiving payment on behalf of merchants, and electronic money transfer. Clause 3 registers multi-merchant electronic money at a six-month average monthly float of THB 50 million and services being tested in the central bank's sandbox.
How much capital is required?+
Notification SorNorChor. 5/2561: THB 100 million for electronic money, THB 50 million for acquiring, and THB 10 million each for the remaining three services named above. For card services the notification prints no figure.
What about the payment systems?+
They are licensed separately under SorNorChor. 3/2561: THB 50 million for an inter-institution fund transfer system, THB 50 million for a payment card network and THB 200 million for a settlement system. Apply for more than one and the highest figure governs.
How long does the review take?+
The central bank considers a licence application and proposes to the minister within 60 business days of receiving it complete and correct, and decides a registration within 30. On a real file, with company formation and question rounds, plan on six to nine months.
Does a foreign group need a Thai partner?+
The payment notifications set no general foreign-ownership cap. They do require at least one director of Thai nationality domiciled in Thailand, unless the applicant is a financial institution, a specialised financial institution or a state enterprise.
How is the e-money float protected?+
Money received in advance is kept apart from working capital and deposited with a commercial bank or a specialised financial institution in an account separate from other deposits, free of any obligations, used only for settlement of the service, at a balance never below the outstanding float.
Are there limits on wallet balances?+
No per-wallet balance or transaction cap is printed in the payment notifications. What is printed is the refund duty: a valid redemption request is paid within 15 days of the user submitting it.
What does it cost in state fees?+
Applications filed before 2019 carried no fee, and later ones are charged at rates the central bank announces. We confirm the current figure for your service before you file rather than quote a range.
Why Thailand rather than Indonesia or the Philippines?+
Thailand publishes its decision clock and starts the capital ladder at THB 10 million, and PromptPay gives a consumer product an established rail. Indonesia is the larger market but adds a 51% domestic control test. The Philippines runs a trust-based safeguarding model at PHP 100 million to PHP 200 million of capital.
Which licence?+
Designated payment service; the minister grants it.
Licensed or registered?+
Clause 2 licenses; Clause 3 registers.
Capital?+
THB 100M e-money, 50M acquiring, 10M others.
Payment systems?+
THB 50M, 50M and 200M.
How long?+
60 business days; 6-9 months realistic.
Thai partner?+
No cap found; one Thai director required.
Float?+
Separate bank account at the full balance.
Wallet caps?+
None printed; refunds in 15 days.
Fees?+
Announced by the central bank.
vs Indonesia / Philippines?+
Published clock; capital from THB 10M.
Client notes
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Founders who wanted it done right.
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