Cryptocurrency Business Ideas in Thailand

Updated on Saturday 12th May 2018

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Entrepreneurs who start a business that deals in cryptocurrencies in Thailand have access to a dynamic market and one that is still evolving in terms of regulations and compliance for crypto operators. The following cryptocurrency business ideas highlight a set of possible business activities for startups in this industry.

According to the Bank of Thailand, the cryptocurrency transactions are separate ones from traditional bank transactions. A tax framework for the treatment of cryptocurrencies has been announced by the Finance Minister and digital currencies will be subject to value added tax and capital gains tax.

Ideas for investing in cryptocurrency in Thailand

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.
  1. A cryptocurrency exchanger: it is simply a platform that allows users to buy the most popular types of cryptocurrencies using a credit card.
  2. A cryptocurrency exchange: a platform that shares similarities to a traditional stock exchange and allows users to trade by making initial Bitcoin deposits; other trading rules may apply.
  3. A cryptocurrency ATM: like the exchanger, it is another service offered to the public that gives the option of buying crypto coins with cash; it is a physical machine.
  4. A digital wallet: cryptocurrency buyers and sellers need to store their digital coins using a safe software; providers of digital wallet services respond to this need.

Once investors have selected their preferred type of business and have drawn up a business plan, the Thailand company formation process can begin. 

How to open a cryptocurrency business in Thailand

As all other types of companies, cryptocurrency businesses are to be registered with the Department of Business Development. The new company needs to have a unique business name, a bank account and registered office in Thailand.

Company registration in Thailand can be handled with the help of our experts, especially by first-time foreign investors in the country.

Contact us for more information about how to open a company in Thailand, the requirements and the possible limits for foreign investors.