Licensing for Securities & Financial Intermediation in Thailand

Setting up a business in Thailand that participates in securities brokering, dealing, underwriting, fund management or lending against securities requires a specific licence from the Office of the Securities and Exchange Commission (Thailand) (SEC). At BASE Law Firm, we guide clients through the regulatory landscape, helping design structures, prepare documentation and apply for the correct type of licence under Thai law.

Our service include:

Securities-licensing strategy design
Licence type suitability review
Full SEC application drafting
Corporate & ownership structuring
Compliance and risk framework setup
Ongoing regulatory monitoring

What Licences Are Available & Why They Matter

If you wish to act as an intermediary in the Thai capital markets — whether as a broker, dealer, underwriter, investment adviser, fund manager or lender in securities — you must secure a licence under the Securities and Exchange Act B.E. 2535 and related ministerial regulations.

In recent years the SEC has introduced additional licence categories to improve flexibility, for example the “Type E” licence and a Private Fund Management licence.

Licence Types & Their Scope

Type A licence – the broadest authorisation, covering securities brokerage, dealing, underwriting, investment advisory services, mutual fund and private fund management, securities borrowing/lending and venture-capital management.
Type B licence – designed for debt securities and sukuk business (brokerage, dealing, underwriting of debt instruments).
Type C licence – tailored for fund management, investment units, private funds, investment advisory and other less extensive securities business.
Type E licence / Private Fund Management licence – newer categories aimed at specific business types, often with more streamlined compliance for narrower business scopes.

Key Qualification & Submission Criteria

Any applicant must meet rigorous requirements including:

Minimum paid-up registered capital and capital reserves as prescribed under SEC regulations.
Clear governance, risk-management systems, internal control, human-resources qualifications and adequate technology/infrastructure to operate the licensed business.
Directors, shareholders and executives without disqualifying criminal or financial history, and the entity must meet integrity and financial solvency tests.
Submission of a full set of documentation to the SEC including business plan, organisational structure, compliance frameworks and proof of shareholding.

Process Overview

Assessment & planning – BASE Law Firm works with you to determine which licence category fits your business model, ownership structure and product/service offering in Thailand.
Application preparation – We assist in drafting the required submissions, gathering supporting materials, structuring the company, specifying scope of business and preparing for any regulatory review.
Regulatory review & approval – The SEC examines the file, may carry out inspections or require supplemental information, and then, if satisfied, issues the licence.
Commencement & ongoing compliance – Once licensed, you must fulfil conditions such as commencing operations within a stipulated time, maintaining capital adequacy, adhering to internal-control requirements and submitting periodic reports.

Practical Risks & Strategic Considerations

Failing to obtain the correct licence or operating outside the permitted scope can lead to regulatory enforcement, licence revocation and reputational damage.
The Thai regime for securities and derivatives business is evolving – recent consultations propose a new licensing structure effective by 2025.
Foreign-owned entities face additional scrutiny: structure, ownership, board composition and regulatory supervision may trigger higher standards.
Transaction models such as fund-management or securities lending demand more stringent systems and higher capital; early structuring is crucial.

How BASE Law Firm Can Assist

At BASE Law Firm, we deliver full-service support for clients seeking to enter or expand within the Thai securities and finance market:

Strategic licensing advice – identifying the optimal license type based on your proposed services and Thailand entry strategy.
Entity and ownership structuring – advising on the legal entity setup, board/shareholding composition and foreign-investment constraints.
Document preparation & submission – preparing full licence application packages, liaising with the SEC, and managing follow-up.
Compliance architecture – designing governance, internal-control, risk-management and reporting frameworks tailored to Thai regulatory expectations.
Ongoing monitoring – keeping you updated on regulatory changes (for example the planned licence regime reform), managing renewals or variations, and advising on enforcement or operational issues.

Summary

Successfully operating in the Thai securities and finance sector demands more than registrations, it requires comprehensive regulatory planning, operational readiness and sound corporate infrastructure. With the expert guidance of BASE Law Firm, you can approach the licensing process methodically, comply with Thai capital-markets law and implement your business with confidence.

If you are contemplating offering securities-related services, fund management or finance‐linked operations in Thailand, please contact BASE Law Firm for early-stage consultation and expert licensing support.