Banking Law in Thailand

Updated on Wednesday 26th April 2017

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The Financial Institutions Business Act in Thailand regulates and supervises the activities of all financial companies in the country. It is good to know that 75% of the shareholding of a bank in Thailand is held by Thai nationals or entities, but there are cases where the Ministry of Finance in the country can release some restrictions for particular situations. All banks in Thailand can receive money deposits, offer loans and numerous payment services for nationals and citizens from overseas. If you want to open a bank account for your company or for personal matters in Thailand, we invite you to solicit legal assistance from our Thai lawyers.

Provisions of the Commercial Banking Act in Thailand

The commercial banks, the financial entities, the foreign exchanges and the undertakings of the commercial banking businesses in Thailand are governed by the Bank of Thailand, where an independent status is guaranteed, supporting the work line with the Minister of Finances’ policies. Granting credits, buying and selling foreign exchange, accepting money deposits from local or foreign citizens, and creating bank accounts are the main services a bank in Thailand offers. It is good to know that the Ministry of Finance deals with the necessary licenses for branches of banks with foreign capital, considering the rules and regulations stipulated in the Commercial Banking Act in Thailand.

It is good to know that a bank can be established as a public limited company, respecting the rules in this matter, where the minimum share capital needs to be in proportion to the registered liabilities and assets of the financial institution. Individuals who want to know more details about the Commercial Banking Law can solicit help and legal assistance from our lawyers in Thailand.

The financial services offered by a bank in Thailand

People or companies in Thailand can benefit from varied financial services offered by all banks in Thailand, such as:

•    national and international payment services;
•    foreign currency exchanges;
•    local or abroad money transfers;
•    the opening of financial deposits.

More details about the banks in Thailand and the offered services can be obtained from our Thai law firm, so please feel free to get in touch with us.


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