A framework for a financial hub in Thailand has been established, targeting external financial services like commercial banking and digital assets. Initially, services are for non-residents, with operations based in Bangkok but having broader reach. The new One-stop Authority will provide incentives such as tax benefits and fast-track visas to enhance competitiveness.
A new framework was established yesterday by a working panel aiming to set up a financial hub in Thailand.
Chaired by Deputy Finance Minister Paopoom Rojanasakul, the panel plans to complete draft legislation in three weeks, targeting businesses such as commercial banking, payment systems, and digital asset services.
The framework focuses on non-resident services, initially allowing businesses to raise funds abroad for investment away from Thai soil (out-out transactions).
Future phases may permit raising funds abroad for investment within Thailand (out-in transactions).
The initial hub location will be in Bangkok, with broader operations possible from anywhere.
A new office, called the One-stop Authority, will facilitate business establishment and operations, offering incentives including tax privileges and fast-track visas.
These incentives aim to make Thailand competitive, with further focus on ecosystem and workforce advantages.