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Crowdfunding Regulation in Thailand: SEC Equity Crowdfunding
SEC Thailand allows equity crowdfunding (ECF) under the Securities and Exchange Act + 2019 ECF Notification. Per-investor cap THB 100,000 per offering; per-issuer cap THB 40 million / year.
TL;DR
SEC Thailand allows equity crowdfunding (ECF) via licensed funding portals under the Securities and Exchange Act B.E. 2535 (1992) and the SEC Notifications on Crowdfunding (2019, as amended). Per-investor cap is THB 100,000 per offering for retail investors (no cap for qualified investors); per-issuer cap is THB 40 million / year. Funding portals are SEC-licensed; offerings are short-form filings (not full prospectus).
Eligible Issuers
- Private companies (limited companies, juristic partnerships).
- Public companies (PLCs) using crowdfunding for non-listed offerings.
- Not banks, insurance companies, securities firms.
Investor Categories
| Category | Per-offering cap |
|---|---|
| Retail investor | THB 100,000 |
| Angel / accredited | Higher cap by classification |
| Qualified investor | No cap |
Funding Portal Obligations
- SEC licence + minimum capital.
- KYC / suitability assessment.
- Disclosure standards for issuer documents.
- Anti-fraud screening.
- Post-funding reporting.
Common Mistakes
- Marketing the offering outside the portal — securities-law breach.
- Issuing more than the annual cap.
- Skipping post-funding reporting.
FAQs
1. Debt crowdfunding?
Separate regime (debenture-based crowdfunding); per-issuer caps differ.
Related Reading
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