Open a Fintech Company in Thailand
Updated on Thursday 11th January 2018
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Thailand ranks among the 10 most performant Asian countries in the field of Fintech. With a level of digital banking which has risen up to 19% Thailand has as well a solid policy concerning financial technology which contributes to the fast development of this area. Our consultants in company formation in Thailand can help entrepreneurs with useful information concerning the set-up of a Fintech company in Thailand and with aspects regarding the Fintech regulations in this country.
Fintech operations in Thailand
Thailand is one of the most welcoming economies in Asia for foreign investment and a country which has proven friendly towards fintech innovations. Thailand has a balanced policy in matters of financial technology, which is able to provide enough freedom for fintech growth as well as enough protection against market risks.
Fintech includes several sectors, and investors who intend to open a company in Thailand in the fintech sector should consider them carefully before setting up a Thai fintech enterprise:
• open-source software;
• big data;
• cloud computing;
• mobile technology;
• money exchange;
• international and national payments;
• money transfers.
This year the Thai government plans to introduce specialized fintech regulations. In a few months, Thailand will be the third Asian country to implement a Fintech Act. Our consultants in company registration in Thailand can keep you updated on the measures adopted by the Thai authorities concerning the set up of fintech companies in Thailand.
What you need to know in order to open a fintech company in Thailand
Thailand offers countless opportunities for financial technology initiatives. First of all an investor needs to receive approval to open a business in this country. Foreign entrepreneurs should apply for a business visa from the Thai authorities. The documents required and the conditions can be explained to you by our consultants in company registration in Thailand.
Moreover the Thai government meets investors with new provisions especially designed in order to support the development of the Fintech sector. As such, the Thai cabinet has authorized individuals to own limited companies in the Fintech sector. One-shareholder start-ups in the area of Fintech can be established much easily, since no second partner is needed in order to function as a legal entity, as it was previously required.
Feel free to contact our specialists in company formation in Thailand so that you can speed up the procedure needed in order to open a Fintech business in this country.