Privy Purse Bureau

The Privy Purse Bureau, known from 1948 to 2025 as the Crown Property Bureau (CPB), is a royal agency responsible for managing the property of the King of Thailand.

The Crown Property Bureau was originally set up following reforms to royal property following the abolition of absolute monarchy, which placed crown property—mostly investments and real estate holdings—under the control of the Ministry of Finance. In 1948, the CPB was set up as an independent juristic person, chaired by the Minister of Finance but operating outside the purview of the government, with its proceeds to be spent at the royal pleasure. During the reign of King Bhumibol Adulyadej (1946–2016), it was claimed that crown property does not belong to the king in his private capacity, but to the monarchy as an institution which continues from reign to reign. The bureau's unclear legal status, as an administrative agency of the state but not a government agency, was also subject to much legal analysis.

After the accession of King Vajiralongkorn, new laws were passed that put crown property within the king's personal ownership, and re-established the CPB as a royal agency with its chair appointed by the king. In 2018, the King was granted full, personal ownership of royal assets thought to be worth at least $70bn to as much as $130bn. In 2025, its name was changed to the Privy Purse Bureau, reverting to the title of its precursor during the absolute monarchy period.