Cryptocurrency in Thailand: absolute legality and investment opportunities

In Thailand, cryptocurrencies became completely legal with the adoption of the Digital Assets Act in May 2018. This law regulates all activities related to digital assets, establishing strict standards for exchanges, brokers, and dealers, who are required to operate only with a license issued by the government. The main regulatory body is the Securities and Exchange Commission (SEC).

One of the key features of regulation is the mandatory license for all cryptocurrency exchanges in the country, which guarantees investors legal protection and transparency in the field of digital assets. Currently, the turnover of licensed cryptocurrency exchanges under the SEC amounts to over $3 billion per month. Two of Thailand's largest banks, SCB and Kasikorn, play an important role in the development of this sector, actively engaging with cryptocurrency markets.

Siam Commercial Bank, the country's oldest bank with more than a century of history, recently acquired a a majority stake in the largest Thai cryptocurrency exchange Bitkub for 17.8 billion baht. This strategic move sent SCB's shares up 10% in just a week and increased the bank's market capitalization by more than $900 million, far exceeding the value of the Bitkub acquisition.

In the near future, SCB clients will be able to open accounts not only in traditional Thai baht or dollars but also in stablecoins like USDT and USDC. In the Phuket region, corporate bank accounts on the Bitkub cryptocurrency exchange have already started to be actively used for their operations.

The Thai SEC fully supports asset tokenization, allowing companies to utilize the Ethereum blockchain for the digitization, listing, and trading of various tangible assets, including real estate. Tokenization of real estate opens up new opportunities for the creation, distribution, and management of digital securities that represent shares in ownership rights or other financial rights.

These innovations make Thailand an attractive market for investments in digital assets, providing a reliable legislative framework and a developed infrastructure for innovative markets and financial technologies.

Tokenization of real estate in Thailand

The application of cryptocurrency technologies in real estate has opened up new opportunities for investors and real estate management companies. Speeding up transactions, reducing costs and increasing interest in properties are just a some of the benefits of tokenization.

In Thailand, this process has already become a reality. The Tourism Authority of Thailand (TAT), in collaboration with the Securities and Exchange Commission (SEC) and local cryptocurrency exchanges, is preparing to establish a framework for using digital tokens as a payment method for tourists.

Cryptocurrency for real estate transactions

The use of cryptocurrency in real estate transactions has already become a reality in Thailand. For example, clients can use cryptocurrency to purchase property and rent yachts on the island of Phuket.

The purchase of a villa in the Shambhala Grand Villa complex is one of the striking examples of cryptocurrency being used in real estate. The price of the fully furnished villa was 22.6 million baht (about $675,000). The rental scheme offers a guaranteed income or a profit-sharing arrangement for the investor at a ratio of 60/40 in favor of the latter. Maximum comfort and effective investment management are the main attractive points for clients.

Why Shambhala Grand Villa?

Shambhala Grand Villa is located in the prestigious Laguna area of Phuket. The complex includes 43 villas, of which only four remain. Excellent location near the beach and developed infrastructure make this object particularly attractive.

Unique location

Shambhala Grand Villa is located in the Laguna area, which is famous for its private beaches, golf courses, world cuisine restaurants, spas, and a long sandy beach. Close to the complex is Boat Avenue Park & Playground – the perfect place for outdoor relaxation and sports activities in nature.

Rental business

The management company Shambhala Grand Villa offers services for complete furnishing, equipment maintenance, short-term rental organization, marketing, and villa servicing. Investors can choose between a guaranteed income or a 60/40 profit share, with payments made in Thai baht – the national currency, ensuring stability and predictability of income.

Prestige and high quality

Shambhala Grand Villa is a luxury property that combines prestige, comfort, and functionality. The villas are located within a gated community that was specifically designed and built by Laguna Phuket to high-quality standards.

In our collaboration with the developer, all financial aspects are conducted using cryptocurrency, specifically Ethereum. However, we also plan to accept other types of cryptocurrencies in the future.

Villa booking

To book a villa at Shambhala Grand Villa, you need to obtain a QR code for making the reservation payment. The maximum transaction amount is 1 million baht.

Transaction process

The process is quite simple: the developer creates a QR code through their account on the Bitazza platform and sends it to the buyer. Most often, transactions are completed within a few minutes after the cryptocurrency is transferred to the developer's wallet. Then, they exchange the cryptocurrency for Thai baht through an exchange and deposit it into a regular account, after which they provide the buyer with a receipt.

Effectiveness of the process

The procedure takes a minimal amount of time, while bank payments can take up to 7 days. Additionally, the developer covers all costs related to the transfer and exchange of cryptocurrency. Thus, transactions with the developer King Window are conducted on the same terms as with any other investors.

Investment opportunities

Additional information about real estate in Phuket from King Window... King Window View offers a variety of investment opportunities in Thailand's real estate market on the island of Phuket: cozy apartments and comfortable villas. For example, The One Naiharn apartment, which is an investment property in a hotel complex. There are also luxurious Balinese-style villas and townhouses available for investors. The villa community is located near the famous Laguna Phuket resort and stretches along Bang Tao Beach for 3 kilometers.

Set amidst luxurious tropical gardens spanning a full 1000 acres, there are exquisite resort hotels, prestigious spa complexes, residential communities, and a magnificent 18-hole golf course. One such exceptional place is King Window View in Phuket, Thailand. This modern condominium hotel is designed with a special focus on the needs of families with children and utilizes advanced eco-friendly technologies in its construction process. Residents and guests of Layan Green Park can expect to save up to 40% on electricity and water thanks to the implementation of energy-saving solutions.

Luxury Villa in Phuket

For those who are looking for real estate

Utopia Maikhao Project

The project includes 16 exclusive luxury villas with pools, ranging from 3 to 6 bedrooms, situated on spacious plots of land. Its location is truly unique and offers its residents a luxurious lifestyle.

Unique villas at "Villa Sunpao Rawai"

Each of the villas at "Villa Sunpao Rawai" is designed with special attention to detail, creating a unique space for comfortable living. Thoughtful design and the use of high-quality materials make this project truly one-of-a-kind. Offering stunning views of the ocean and coastline, these villas provide an unparalleled vacation experience.

Exclusive residential complex "Anchan Breeze"

"Anchan Breeze is an exclusive residential community of luxury villas embedded in the Phuket's beautiful natural surroundings. It is a perfect blend of exquisite design, modern amenities and a tranquil atmosphere. atmosphere. Each villa has been created using the highest standards of quality and comfort to satisfy the most refined tastes.

Innovative apartments in Phuket

Another unique project is the apartments on Phuket Island, distinguished by their innovative design approach and spacious layouts that are not typical for regular condominiums in this region. Located in the "Laguna" area, they offer luxurious housing for both permanent living and vacationing.

Infrastructure and amenities

The infrastructure of this complex is perfectly suited for both permanent living and full-fledged relaxation: pools, sports grounds, and recreation areas are all organized within the complex's territory. Prices start from 400,000 euros, offering the opportunity to enjoy royal views from the windows of your future home in Phuket.

When buying land in Thailand:

It is necessary to fill in a special form - Foreign Exchange Transaction Form (FET Form) - for each transaction. for each transaction. Banks provide the FET Form, but cryptocurrency exchanges do not currently have this option. currently. However, there is a solution to this problem. It involves converting crypto assets into dollars or Euros through a Thai bank, then exchange them into local currency. The bank will issue a FET Form for this transaction, which will will confirm that the property can be registered as Freehold.

Freehold ownership process:

For owners looking to hold property under Freehold, a dual conversion method is available. More information about the differences between ownership forms can be found in our video on YouTube. There are also other useful videos about investing in Thai real estate available there.

Development of cryptocurrency operations:

The sphere of cryptocurrency operations is constantly evolving. For example, the Shambhala complex, focused on IPOs, demonstrates developers' interest in this area. In the future, such companies will start tokenizing real estate and accepting cryptocurrency without the need for conversion.

Patong Bay Ocean View Investment Project:

In Phuket, there are cottages available that offer a guaranteed income of 7% per year for 15 years. The developer also accepts all types of cryptocurrencies without any fees. There is a lot of misunderstanding in this area: many real estate agents in Phuket are still not familiar with cryptocurrencies. However, the sector is developing, and the prospects look promising for crypto investors.

Conclusion

The introduction of cryptocurrencies into Thailand's economy represents not only a legal breakthrough but also a powerful impetus for the development of financial technologies. The legislative regulation provided by the decree "On Digital Assets" ensures investors guarantees of legality and transparency in transactions with digital assets, fostering the growth of cryptocurrency exchanges and attracting major players such as SCB and Kasikorn banks.

Innovations such as real estate tokenization are opening new opportunities for investment, increasing the accessibility and liquidity of assets. The partnership between banks and cryptocurrency exchanges creates a foundation for a future where digital technologies will become an integral part of everyday life in Thailand, from the tourism industry to the real estate market.