Country Manual Private Banking
Thailand – CM PB
out of Bank’s Country of Establishment (Def, RS, BT & RT)
| Source of changes | Answers |
|---|---|
| Law / Regulation | Yes |
| New Position of the Authorities | No |
| Evolution of Expert’s Interpretation | Yes |
Regulatory Template, Regulatory Summary and Behaviour Template
Material changes
We have reviewed the documents following consultations with our local counsel. The following material changes have been made:
The definition of “Other Qualified Prospects/Clients” (Thai investors who are allowed by the Bank of Thailand to transfer funds overseas to purchase overseas securities) has been updated to include retail investors that can purchase foreign currency, i.e. transfer money overseas, to invest in foreign securities by submitting an “Acknowledgement Form of Intention to Investment in Foreign Securities and Derivatives” to the sending bank. If not investing through a local investment agent/local financial intermediary, the transaction limit shall not exceed USD 5 million or its equivalent per person per year.
This is relevant not only from a foreign exchange perspective but also because the tolerated market practice of servicing such “Other Qualified Prospects/Clients” upon reverse solicitation for investment services is extended to the new category of clients.
Note, however, that the substantive regulations about offering foreign securities to retail investors are still governed by the Securities and Exchange Commission.
Non-material changes
Some comments and content have been slightly reworded (without introducing material changes) to reflect the regulatory situation/current interpretation of the regulatory framework more accurately.
BT Short comparison
This document allows users to quickly identify the modifications made compared to the previous version of the PB Manual (BT Short Comparison). The BT Short Comparison can be found on BRP’s platform (mybrponline) in the Search tab by entering in the Document Field “CM PB BT SHORT COMP” and “THAILAND” in the Target Country Field.
The BT Short Comparison should be read as follows
The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in color). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.
For more information, please contact us: info@brpsa.com
Geneva, May 19th, 2025