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Guide

Gather steps, essentials to know more about Equity Crowdfunding for issuers and investors.

Guide

Gather steps, essentials to know more about Equity Crowdfunding for issuers and investors.

Investor Types

Retail Investor

equity-crowdfunding-sinwattana-retail-investor
These investors can invest up to 100,000 Baht per company and 1,000,000 Baht per year in all businesses combined.
Additionally, Retail Investors must pass the knowledge test for them to be considered ready to invest.

Non-Retail Investor

equity-crowdfunding-sinwattana-non-retail-investor
These investors do not have a limit on the amount they can invest and will fall into one of the following 4 categories

1. Institutional Investor

Institutional investors according to the Notification of the Securities and Exchange Commission No. GorJor. 4/2560 are:
(1) Bank of Thailand
(2) Commercial Bank
(3) Bank established under specific law
(4) Finance company
(5) Credit foncier
(6) Securities company
(7) Non-life insurance company
(8) Life insurance company
(9) Mutual fund
(10) Private Fund managed by Securities company for investment of investor under (1) to (9) or (11) to (25)
(11) Provident Fund
(12) Government Pension Fund
(13) Social Security Fund
(14) National Saving Fund
(15) Financial Institution Development Fund
(16) Derivatives business operator under the law on derivatives Act
(17) Future business operator under the law on concerning agricultural futures trading
(18) International Financial Institution
(19) Deposit Protection Agency
(20) Stock Exchange of Thailand
(21) Juristic person in the category of statutory corporation
(22) Juristic person whose shares are held by person under (1) to (21), in aggregate exceeding seventy five percent of all shares with voting rights
(23) Foreign investor having similar characteristics to person under (1) to (22
(24) Fund Manager or derivatives fund manager under the Notification of the Office of the Capital Market Commission concerning rules for personnel in Capital Markets Business
(25) Any other investors as specified by the SEC.

2. Private Equity

GorJor. 15/2561 Re: Public Offering of Digital Tokens
Private Equity is an entity established under Thai or foreign law. And has complete characteristics as follows:
(1) having been established with the purpose of joint investment by two or more partners which are non-retail investors
(2) having assigned any person to manage portfolio of the firm
(3) having investment policy in any other business by entering into the investment agreement in shares or financial support creating the rights to obtain shares of such business and also in part having involved in [i] supervising business plan, [ii] operating business or improving business operation or [iii] any other activity which reflect active role in such business operation

3. Venture Capital

GorJor. 15/2561 Re: Public Offering of Digital Tokens
A Venture Capital is a legal entity established in accordance with Thai or foreign law. The objective is to operate a joint venture in a start-up enterprise and limit investors’ characteristics to non-retail investors

4. Qualified Investor

SorJor. 31/2562 Re: Determination of Definition of Qualified Investor
(1) Electronic Provider Supporting Fundraising
(2) Ordinary person who has invested in stocks directly for at least one year and possess either of the following characteristics
(a) Having the net asset value of at least fifty million Baht, excluding real estate used as permanent residence of such person
(b) Having an annual income of at least four million Baht
In this regard, the calculation of the assets or income under (a) and (b) may include the assets or income of the spouse
(3) Executive shall be a person who has knowledge and expertise in business operation, investment, has assessed the value of business operator or has given advice for business development for at least three years such as financial advisor, analyst, business incubator, director or executive responsible for investment of institutional investors or business executive, etc. Having at least five million baht invested directly in stocks