thailand

Buying a shelf company in Thailand

There are numerous advantages of buying a shelf company in Thailand, and the most obvious of them are the following:

• Ability to start working immediately without losing any time.
• No need to develop a business plan and other bureaucratic procedures.
• The company’s structure is ready and corresponds to the current legislation.

Our company offers the best services for people serious about their crypto business in Thailand. Our experienced staff is always ready to assist if you want a consultation.

The advantages of cryptocurrency companies in Thailand

There is a bunch of advantages for Thai crypto companies, and here they are:

• A wide spectrum of crypto activities the company can be engaged in.
• Local people love cryptocurrencies and use them a lot.
• The government works on cutting taxes for crypto income and promotes cryptocurrencies within the country in general.
• Thailand has no agreements on automated data exchange with the other states.
• Foreign investments are possible.

Requirements

If you would like to establish a crypto company in the Land of Smiles from scratch, you need to keep in mind the following requirements:

• All directors don’t need an immaculate track record, but at least one must be free from any association with criminal cases or bankruptcy. 
• The minimum requirement for shareholders is a total of three individuals. 
• They must establish an account with a local bank and deposit $5,000. 
• The company is required to submit a comprehensive business plan to the Securities and Exchange Commission (SEC). 
• The authorized capital must amount to at least $150,000. 
• The company’s structure must adhere to the requirements set forth by the SEC. 
• The identification of clients is obligatory during exchange transactions. 
• In-person presence is necessary for the opening of a bank account.
• Digital asset exchanges must maintain a separate database that the regulator can examine. 
• Regular audits and financial statements must be filed accordingly.

A pre-established cryptocurrency firm in Thailand is a superb opportunity for crypto business people to start working legally and quickly on the Thai crypto market.

It is feasible to offer a nominal service, and the cost includes opening a Thai bank account. The company’s re-registration occurs as swiftly as possible. Typically, it takes around 2-3 weeks, depending on the workload of the Thai regulatory body.

Thailand is at the forefront of embracing cryptocurrency. The nation assumed this position in 2019 and has since cultivated the industry. It boasts numerous cryptocurrency exchanges, advancing mining operations, cryptocurrency exchange services, and digital asset storage facilities.

All companies involved in cryptocurrency activities must register with the Securities and Exchange Commission (SEC). The SEC assesses applications, grants crypto licenses, monitors regulation adherence, and collects taxes (7% value-added tax). Initial Coin Offerings (ICOs) fall under the supervision of a dedicated division within the SEC. Failure to register promptly may result in a fine of $15,500.

The regulator places significant emphasis on combatting money laundering and financing terrorism. Consequently, engaging with cryptocurrency has become more intricate than before but has also become more transparent.