Bangkok: The Bank of Thailand has announced that two major leasing companies have not yet reported compliance with the new regulations, with a deadline set for March 31, 2026. The report indicates that only 60% of smaller companies have complied with the regulations so far. Existing companies must complete their reporting by the deadline, while new companies have a 120-day window from the start of their operations. Non-compliance could lead to imprisonment and fines, with legal action for those failing to meet the deadlines.
According to Thai News Agency, Ms. Peerajit Patmasoot, Senior Director of the Financial Services Protection and Supervision Department at the Bank of Thailand (BOT), explained that the BOT issued regulations requiring hire-purchase and leasing businesses for cars and motorcycles to report to the BOT for supervision. This move follows the shift of supervision from the Office of the Consumer Protection Board (OCPB) to the BOT, effective from December 3, 2025.
The BOT has opened registration for these businesses since October 10, 2025, and nearly 90% of over 3,000 businesses under its supervision have registered. This includes almost 100% of large businesses, except for two, and over 60% of medium-sized businesses, amounting to 40 companies. However, registration among small businesses remains limited, with only a few hundred having completed the process.
The BOT is urging businesses that have not yet registered to cooperate and complete their reporting. Exemptions apply to financial institutions, companies in financial business groups, specialized financial institutions, and taxi cooperatives. New businesses starting operations from December 3, 2025, must report within 120 days of their registration with the Department of Business Development to avoid facing legal repercussions. Non-compliance with the Motor Vehicle and Motorcycle Leasing Act could result in severe penalties, including imprisonment and fines for business operators and related directors and executives.
The BOT’s regulatory scope covers hire purchase transactions for individuals and legal entities, as well as leasing transactions for both categories. However, the BOT will only regulate legal entities involved in leasing businesses for automobiles and motorcycles, excluding individuals, cooperatives under the Cooperative Act, and certain other legal entities specified by the Minister. Additionally, the regulations do not cover tractors, road rollers, agricultural vehicles, and trailers.