Organizations dealing with securities weren’t earlier allowed to implement purchases, vends or exchanges of foreign currencies directly with customers, as it was impossible to license it. Due to the increasing popularity of investing in foreign currency-markets, Thailand’s regulators created new regulations giving securities-companies possibilities to apply for permission for foreign exchange-operations. Forex license in Thailand makes it possible to carry out such deals officially.
To obtain brokerage license in Thailand
For successfully obtaining Thailand FX license, you need to meet the next-mentioned requirements.
- Possess the status of a securities-broker.
- Act as brokerage-company that trades securities in frame of Thai exchange-space for more than 3-years-period before applying for a permit.
- The firm was not bankrupt and there was no bankruptcy ruling against it.
Considering such criteria, not all firms are eligible to get Forex license in Thailand and benefit from it.
What operations are permitted
A securities-firm that received Thailand brokerage-license for exchanges has rights to operate with currencies – sellings, purchasing and exchanging – considering next-mentioned conditions:
- licensee is an investment agent for customers;
- amounts of currencies that have been sold for customers must absorb FIA quotas that has been allocated;
- currencies converting by licensee takes place using particular account exclusively for licensee’s transactions;
- exchange-rate should not differ much from average local bank-rate;
- per day, license-holders must not outreach a net buy level of $5 mln and a net sell level of $0.
Applications for Thailand international brokerage permission and all accompanying documentation need to be sent directly to regulator. Typically, such an application is considered within 60 working days from submission, if all documentation is filled out correctly and no additional actions are required.
New rules and laws make it possible to convert currencies for customers to invest in foreign projects. FX brokers in Thailand can operate as general-purpose service-providers for local users investing in FCY-products.
Duties of licensed companies
Firm, which is holder of Forex permission, has following duties to regulatory authorities:
- store documentation and confirmations connected with foreign exchange deals for 5-years-period, for verification by the relevant authorities;
- to give reports to regulators according to determined norms.
Thai FX-license is valid for 12 months and renewed every year, if regulator notifies otherwise in writing.If you want to certify a firm to work with securities quickly and without unnecessary hassle and difficulties, please contact our specialists. We have been working with various licenses for many years and are always ready to help you in obtaining such a permit. Price for Forex license in Thailand depends on individual peculiarities of every case. We also offer many other companies and licenses for sale in various jurisdictions and niches.