The Securities and Exchange Commission of Thailand (SEC) will refresh its definitions of institutional, high-net-worth (HNW), and ultra-high-net-worth (UHNW) investors according to its recently issued Notification No. Kor Jor 39/2564, effective on October 1, 2022. The key changes to these classifications are described below.
Institutional Investors
The SEC’s list of types of institutional investors will be expanded by the addition of the following four types:
- Venture capital. This refers to juristic persons established under Thai or foreign law for the purpose of investing in a startup, whereby the investors must not be retail investors.
- Private equity. This describes businesses established under Thai or foreign law for the purpose of investment by three or more nonretail investors who have appointed a person to manage the investment funds and accrued assets. The business must…
