Answered2 years ago
Can I use my stock portfolio instead of a bank account to apply for the DTV Visa in Thailand?
The next weeks i want to ask for the DTV as a Digital Nomad. Can i show my stock portfolio instead of my normal bank account? Do the Embassy except it? I don't want to park directly the money in my bank account because it do not work for me. The rest of the requirements i will fulfill. TIA
Answer summary
If you are applying for the Digital Nomad Visa (DTV) in Thailand, it is generally required to show liquid assets in a bank account rather than a stock portfolio. Several community members have reported that embassies do not accept stock portfolios as liquid assets, as they can fluctuate in value and aren't considered readily accessible funds. It's advisable to transfer the required amount to a savings or checking account to fulfill the visa requirements.
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Upasaka ********
I have read a few reports of traders being refused the DTV visa
Paul *******
@Upasaka *******
Mainly because they don't have cash in a conventional bank account.Luit *****************
@Upasaka *******
that does not surprise me, because a lot of traders/speculants only trade for their own portfolio, and don't have clients. That is of course not really a remote job.
Daniel *******
No crypto, no stocks, they want to see that you have money. Crypto or stocks is not money, it can crash tomorrow and you have nothing. They want liquid assets.
Hans *******************
OP@Daniel ******
yep, understandDean *****
no!! stock portfolio is not accepted! i tried and i have alomost 1 milion usd stock portfolio in my account but they did not accept. it is crazy but they do not consider stock trader a remote worker. wtf!
Paul *******
@Dean ****
which consulate?Dean *****
@Paul ******
vientiane laosPaul *******
@Dean ****
I don't think that's it. The lack of funds in a conventional bank account is why you weren't approved. Being a stock trader on its own, should be fine.Dean *****
@Paul ******
the staff at the consulate It seemed like he didn't know much about trading. he asked contract!! contract how to do this work!! i told him i use a brokerage and trade online. it is a typical remote work! but from the beginning to the end he constantly wanted me to show the contract!! 🙄Luit *****************
@Dean ****
The staff of the consulaten does not need to know about trading, just as they do not need about all kind of other jobs.They only need to see proof of your job, which simply is contract as employee from a foreign company which status your function can be done remote, or in case you are freelancer, they need to see contracts with your clients.
Luit *****************
@Dean ****
You either do the trading as employee of a company, or trade for clients.In both cases there should be a contract.
Just trading for yourself is not really make you a remote worker or digital nomad.
No doubt you can make money this way, but it is also easy to lose money, so I can understand embassy does not see your investment portfolio as proof of being digital nomad or remote worker.
Luit *****************
@Dean ****
With a one million usd stock portfolio, you don' t even have *****
usd as cash in the portfolio? Professional investors always advise to keep at least 5 percent as cash.So having a one million stock portfolio and not have enough cash does not look very professional
Dean *****
@Luit ****************
my seed was only 5k usd dollars 7years ago and now 1 million. you do not need worry about me,dudeLuit *****************
@Dean ****
When you only trade for yourself and not as employee of a company or as freelancer for clients, I understand why they not approve your application since you do not comply with the requirements, but you don't seem to understand that.Register a company, write a contract to hire yourself as employee and your chances are a lot better.
Dean *****
@Luit ****************
i also showed them 120k bank balance you do not have to doubt so much. i just mean they do not know what traders doLuit *****************
@Dean ****
I do not worry about you, for me it makes no difference if you have nothing ir a million.But with your answer you perfectly demonstrate why investment portfolio cannot count as money.
You invest with very high risks when 5k grows to 1 million, and you don't even have enough cash for your visa application.
The high risk investment means all can be lost on very short term, or can grow of course, but nobody knows.
Jay *****
@Dean ****
is the problem that you didn’t show the 500k baht on your bank account? So, did you only show your one million stock portfolio? I remember someone here got accepted as a stock trader…Dean *****
@Jay ****
i also showed them 120k usd bank statement anyway i applied as a remote worker but they did not consider remote trading is a remote work.. it was really crazyJay *****
Dean *****
@Jay ****
yea it was i will try another embassy probably jakartaJay *****
@Dean ****
ok, it looks like some embassies accept, but some of them do not. What a mess!Hans *******************
OP@Dean ****
thanks, understand
Glenn **********
You do not get to decide the requirements because it suits you.
Needs to be in a bank account you have immediate access to, like a checking account.
Needs to be in a bank account you have immediate access to, like a checking account.
Graham *******
the money must be liquid so you can use it in an emergency. Do not be surprised if u need to show it again when u renew.
Malwina ************
@Graham ******
what do you mean? they will ask again when re-entering next year? at the airport?Graham *******
@Malwina ***********
who knows, all other visa's where there is a financial deposit required have to provide financial evidence in the form of a bank statement before renewal.Hans *******************
OPThanks to all. For me clearly now
Paul *******
You'll need to transfer the required balance to a savings or checking account. Fortunately, at most consulates, this balance doesn't need to be sitting in your account for long. A day, or perhaps a month is sufficient. Only Laos seems to insist on 3 months.
Dean *****
@Paul ******
that is right do not visit thai embassy in laos!! if you are a trader. they do not accept it. they do not understand at all about this work! i will try agian in jakarta in a few weeksHans *******************
OP@Paul ******
thanks, understand. I try to minimise the liquid money on my account because it is dead money. That is the reason why i ask. So i understand to show this required amount on my account. Thanks to all.
Bastien ********
For now I haven’t seen anyone accepted showing stock portfolio
Money should be on a bank account 1-6 months and be able to be freely used not locked
Money should be on a bank account 1-6 months and be able to be freely used not locked
Hans *******************
OP@Bastien *******
thanks
Greg ********
@Bastien *******
That is all I have seen too ie a bank account.Activity
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