Vehicle Hire Purchase and Leasing Under BOT Supervision

With their financing schemes enabling customers to acquire cars or motorcycles, vehicle hire purchase and leasing businesses can be viewed as having characteristics similar to lending businesses. Following a public hearing and discussions between the Bank of Thailand (the "BOT") and relevant focus groups, the Royal Decree designating the Hire Purchase and Leasing of Cars and Motorcycles Businesses as Businesses under the Financial Business Act B.E. 2551 B.E. 2568 (2025) (the "Royal Decree") was issued on 5 June 2025. The Royal Decree will come into effect 180 days after its publication in the Royal Gazette, i.e. effective on 2 December 2025.