Legal advice, tax structuring, transaction support services, and business matchmaking on FinTech, cryptocurrency and digital asset ventures

PUGNATORIUS Ltd. is the Bangkok-based specialist provider of transactional legal and tax advice on foreign investments in Thailand’s manufacturing and service industries as well as property developments and acquisitions.

The law firm has a specific expertise and know-how with respect to cryptocurrency and digital asset businesses as well as ICO ventures. This includes the formation of SEC compliant crypto-companies, the preparation and management of SEC license applications, comprehensive legal advice on ICO Initial Coin Offerings and STO Security Token Offerings, as well as the tax structuring of cross-border crypto-businesses. Its lawyer’s publications are frequently read and quoted and its conference speeches are top-flight and well-attended.

The law firm is the trustworthy advisor for strictly confidential legal and tax advice and support, focussed on foreign entrepreneurs and cryptocurrency UHNWI’s, based on a deep knowledge of the tax and regulatory framework, and backed by a wealth of practical experiences to skillfully manage and command digital asset projects in a multi-currency, multi-legislation and multi-business environment as well as applying licenses for ICO portals, brokers and traders.

PUGNATORIUS Ltd. deems itself fit for purpose to guide foreign investors through Thailand’s regulatory environment regarding (i) the corporate design for a sustainable foreign investment, (ii) the legislative hurdles and tax structuring opportunities and (iii) the challenges for a cross-border crypto-business to combine the benefits from Thailand and abroad. 

The provided services include the registration of the client’s companies at the law firm’s prestigious office address, comprehensive transaction support, the use of a high-end virtual data room, as well as the business matchmaking with other market participants like existing ICO portals. 

Seven areas of legal support and tax advice in the FinTech industries

Free industry updates and professional considerations on cryptocurrencies, digital asset businesses, financial service ventures and other FinTech segments are available on the firm’s webpage and at our bibliographical reference. These posts can provide only a low-resolution snapshot and are neither deemed to be legal advice nor do they result in an attorney-client relationship.

PUGNATORIUS Ltd. provides legal and tax services on a wide range of cryptocurrency matters. Professional assignments, based on a paid consultancy agreement, cover mainly these seven areas:

#1. Legal advice and legal opinions: The law firm provides reliable and trustworthy advice on how to structure and operate a digital asset business in Thailand. It explains the regulatory requirement and the current policies of Thailand’s Security & Exchange Commission, Ministry of Finance, Bank of Thailand, and Thailand’s Revenue Department. It gives advice on how to accomplish an Initial Coin Offering in Thailand, whether a new venture or an ICO that has already been started in Thailand or abroad. 

The law firm is available for legal opinions on legal and tax aspects of cryptocurrency and digital asset projects. This includes professional statements on the regulatory character of utility tokens, asset-backed coins, the applicable laws and regulations in a cross-border digital venture, and the need for licenses and approvals.

PUGNATORIUS Ltd. provides foreign financial advisory and investment firms with advice and a legal opinion on cross-border investment and ancillary services in Thailand and to Thai customers, including reporting, approval, authorizing and license requirements for certain tasks and operations, representatives, online and offline marketing activities, and other activities.

#2. Thai crypto-compliant company formations: The law firm provides comprehensive assistance in the formation of Thai companies in compliance with the rules and regulations for digital asset businesses, ICOs, financial services and other FinTech activities. It advises to establish a crypto-company under the U.S. Thai Treaty of Amity and under the investment promotion scheme by the BOI are other challenges which require a well-considered approach.

#3. Digital asset and financial services licensing: The law firm advises on the preparation and application for digital business licenses as an exchange, trader, broker, ICO portal, etc. It provides a comprehensive transaction support service through the steps of the licensing procedure and is well-experienced to negotiate directly with Thailand’s Security and Exchange Commission SEC. 

Apart from crypto-fintech, the law firm advises and supports securities business license type A, B, C and D, the business license to undertake advisory services, securities borrowing and lending, as well as to undertake venture capital management.

This includes the legal and tax support on the mining of Bitcoin and altcoin in Thailand and abroad.

#4. Blockchain and ICO/STO advisory services: Based on extensive experiences in the FinTech sectors, the law firm advises on the most streamlined way to successfully accomplish an ICO, acts as CLC chief legal counsel (“gatekeeper”) respectively CLO chief legal officer for cryptocurrency ventures, advises regarding digital asset compliance, legal validity, and economic feasibility, to identify and avoid the 95% of ICOs which are doomed.

Legal and regulatory advice, assistance and support on the offering, transfer, and marketing of tokenized securities (investment tokens). STO Security Token Offering projects are just starting as the next phase of the natural evolution of markets and society.

#5. Thai and cross-border tax structuring: As renowned tax counsel, PUGNATORIUS advises on cryptocurrency taxation and a tax-efficient structuring of Bitcoin and Altcoin transactions regarding

  • Personal income tax (PIT) implications for casual Bitcoin users, investors, and speculators,
  • Corporate income tax (CIT) implications for cryptocurrency and other digital asset ventures
  • Withholding tax (WHT) obligations
  • Value-added tax (VAT) implications

Also, the tax counsel advises on tax structuring and asset protection schemes, especially the use of offshore jurisdictions, the tax-efficient restructuring of existing cryptocurrency wealth structures and digital asset ventures, the taxation of cryptocurrency losses, and internationally recognized asset protection schemes.

Advice on domestic and cross-border tax optimizing for ICOs and digital asset businesses on the corporate level and from the investor’s viewpoint. The Bangkok law firm gives full disclosure for clients abroad, which tax structuring opportunities in Thailand with its territorial tax system and unique taxation principles enable to be washed clean of past sins.

Cryptocurrencies, same as offshore companies, do not base their eligibility on anonymity and masking of ownership. Instead, they allow a smart tax planning and investment structure to obtain various benefits fully in compliance with the law. Legal and tax advice on digital coins are not at all assistance in crime.

The law firm advises on the set-up of digital coin businesses in offshore jurisdictions and crypto-friendly legislations, the outsourcing of tasks and activities to an offshore location and the operating of international ventures from Thailand. It offers an in-depth comparison and pre-selection of different offshore locations and transaction management of the whole set-up process.

#6. ICO litigation: 2019 will be the year of ICO litigation. The PUGNATORIUS group accomplishes a comprehensive litigation support service in a multi-jurisdiction environment. Legal project management regarding ICO litigations on remote jurisdiction, communication with foreign lawyers, processing and highlighting of action alternative enforcement opportunities.

The law firm supports ICO developers and promoters in the analysis of litigation risks, the active risk management and asset protection mechanisms and Chinese Walls.  

#7. Cryptocurrency transaction support services: The law counsel supports and assists in a highly confidential manner to transfer cryptocurrencies into fiat money, real estate or other real-world assets in a tax-efficient and compliant structure (crypto2fiat, btc2cash). This includes the cashing out of Bitcoin and cryptocurrencies in private banks and advice and support on OTC Dark Pool (ODP) services.

The law firm appreciates the opportunity to discuss trustee services, authorized representative duties, the support of offshore cryptocurrency cold storage arrangements, and other asset protection and tax planning schemes on a highly confidential basis.

PUGNATORIUS can guide your crypto project through the red-tape requirements, legal hurdles and industry practice in Thailand. Up-to-date information about the legal and regulatory framework of Thailand’s digital asset markets. Independent advice on risks and opportunities. Lessons you do not want to learn the hard way.

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