+66 2 933 9000 , WhatsApp: +66 81 919 6225 bkk@panwa.co.th

We are interested to setup up a company with money exchange services in Bangkok Thailand. Could you please give me some advice?

Panwa: For business of money exchange, the exchange license is required and must be applied immediately the said license, the Government has only 4 periods for apply, which are: March, June, September and December, and the officer take time to approve around 3 months.

Service fee:

  • A. For company that 100% Thai shareholders’ owned is Baht 35,000.
  • B. For company who partially owned by foreigner or being foreign director is Baht 50,000.

Period and Timeline:

  • There are 4 times period a year for applying, including March, June, September and Decebmer and for approval will take time 3 months.

 

Condition and Requirement:

A. Money Exchange License for company with 100% Thai owned, below is the requirements

  • The minimum capital is Baht 1 million and must be fully paid up.
  • Thai shareholder and director must be Thai nationality and being individual.

B. Money Exchange License for company who partially owned by Foreigner or have foreign director, below is the requirments.

  • The minimum capital is Baht 10 million with fully paid up and the
  • The company must have one of these license consist of: TAT license or Hotel License.
  • The shareholder and director must be individual

Other requirements:

  • For both type must have a floor plan, location map and phonts for the money exchange store.
  • Those shareholder who hold 10% or more and director must be criminal bacground checked and mustn’t have any record of bankruptcy.
  • The company must be opened first.
  • When the license is approved, The Bank of Thailand (National Bank) require every money exchange company to send thier monthly report.

*** The above service for applying license is exclude cost of company registration, so you can learn roughly for the guideline, required documents and provision cost of company registration at; https://www.companythailand.net/

 

Q&A

Q1: Our Thai company who owned by foreigner for 49% will apply and hold “Money Exchange License” in Thailand, I focus to locate in Pattaya Area.

Panwa: You an apply the Money Exchange License in Pattaya area but this company must have capital with minimum of Baht 10 million and do business in Tourism with the license of hotel or TAT license and also the shareholder must be only individual.

Q2: I would like to apply for Money Exchange License which will cover for exchange counter and online transfer. Can assist us for this one?

Panwa: Please note that money exchange license only covers for the counter cash exchange (offline). However, if you plan to do online transfer same as Western Union it is not cover under this Money Exchange License.

For more information, please feel free to contact us:

Phones: +66 2 933 9000
Whats'app: +66 81 919 6225 (Mr. Tana Sipa)
Email: bkk@panwa.co.th

Location: https://goo.gl/maps/MhJsbjkPrji51Qyt6

Sky train: Yellow Line, Chokchai 4 Station, Gate 4. Our office is located between Soi Latphrao 50 and 52.

Address: 1560 Latphrao Rd., Wangthonglang, Bangkok 10310, Thailand.