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The Asia Region Funds Passport (ARFP) is an international initiative led by Asia-Pacific Economic Cooperation (APEC) that aims to facilitate cross-border offerings of eligible collective investment schemes among APEC member economies while ensuring investor protection in the economies participating in the ARFP. The ARFP allows units of funds authorized in a participating country (home economy) to be offered publicly in other participating countries (host economies) through locally licensed or regulated distributors upon approval as an ARFP fund and host jurisdiction authorization. Under the ARFP framework, efforts are made to unify the mutual entry processes for funds that are managed in accordance with the ARFP rules agreed upon among the relevant regulators of the participating economies.
Memorandum of Cooperation on the Establishment and Implementation of the Asia Region Funds Passport (“MOC")
The MOC is the internationally agreed framework which sets out the rules and conditions for public offerings of cross-border mutual funds under the Asia Region Funds Passport (“ARFP"). There are currently 5 participating economies who are signatories to these frameworks, namely, Australia, Japan, the Republic of Korea, New Zealand and Thailand.
The MOC came into effect on 30 June 2016 and was implemented
in 2018. Amendments to the Memorandum
of Cooperation on the establishment and implementation of the Asia Region Funds
Passport, effective 30 June 2024 could be found here.
For further detail about the ARFP project and its development, please click here.
Regulatory Summary
Required documents for an approval of ARFP Passport Funds (for inbound only)
A CIS Operator must submit a completed Form 35 – ARFP CIS in hard copies accompanied by all supporting documentation as specified in Form 35 – ARFP CIS to the SEC Thailand for the ARFP Passport Fund
Remark: Form 69 – CIS full forms an integral part of Form 35 – ARFP CIS. CIS Operator is required to complete Form 69 – CIS full and submit it as part of the required documents for an approval of ARFP Passport Funds.
ARFP Passport Funds Fact Sheet Template (for Inbound only)
Fact sheet of ARFP Passport Funds to be disclosed to investors in Thailand shall be prepared in accordance with the format and contents provided herein. Please click here to view the fact sheet template.
On-going requirements of ARFP Operator
The followings are on-going requirements for CIS Operator who makes offerings of ARFP Passport Fund in Thailand:
The CIS Operator is required to submit a hard copy of a completed Form 69 – CIS annually update to the SEC Thailand within 1 year after the effective date of the previously submitted registration statement, either Form 69 – CIS full or Form 69 – CIS annually update, as the case may be.
In the case where there is a material change to the information specified in the effective registration statement and such change has been notified and approved by Home Regulator, the CIS Operator is required to submit a hard copy of a completed Form 69 – CIS material update to the SEC Thailand within 10 days after Home Regulator approved such material change (excluding weekends/ public holidays in Home Jurisdiction).
In addition, the CIS Operator is required to prepare sales report for the sale of units of the ARFP Passport Fund offered in Thailand. This report shall be lodged with the SEC Thailand within 45 days after the last official day of the year that such solicitations occurred.
Related Manuals/Guidelines
Related Rules and Regulations
Inbound
Outbound
Related Forms
List of approved Passport Funds