Answered9 months ago
Can someone on a soft power DTV visa legally earn money trading on Thai registered platforms?
On a soft power DTV visa, is it legally possible to earn money trading on a thai registered entity (binance th, bitkub, IBKR)?
And if yes, what are the requirements to open an account with thai registered entities?
And if yes, what are the requirements to open an account with thai registered entities?
Answer summary
The general consensus is that actively trading as a DTV visa holder in Thailand may be interpreted as work, which typically requires a work permit. While platforms like Binance TH may accept DTV holders for account opening and allow trading, the legal implications of such activities remain vague. DTV holders may struggle to open Thai bank accounts necessary for full participation in the local banking system, emphasizing that simply opening an account does not grant permission to work in Thailand. While trading on one's own may not directly constitute 'work' in all interpretations, it's advisable to exercise caution and consider the broader implications regarding income-generating activities.
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Stefan ******
IBKR is not Thai-registered. AFAIK the responsible division for Thailand is the US branch (don't ask me why, Hongkong or Singapore would be more local, for sure).
Anonymous *************
OP@Stefan *****
oh, that's an interesting detail. Thanks for pointing that out.
Vitaly ********
Yes, it is possible and totally fine. Trading on your own behalf is not work and hardly "earning money". I might as well say I was trying to earn money when I bought a government lottery ticket at my local market
Benjamin *********
No
John **********
The DTV precludes you from dealing with thai based entities
Anonymous *************
OP@John *********
binance th seems to accept DTV for KYC. My question was more aimed to understand if trading is considered work or not. But I got my answer already. It might get imterpreted as work if done, but it probably will not be possible to get a work permit because, boy, that sht ain't no work, ain't it? 😆
Anonymous ******************
Nope!
James ********
Absolutely NO 👎
Anonymous *************
OP@James *******
why?James ********
Do you NOW have a DTV Visa?
James ********
NOT really. It's obvious from your post AND replies you are intent to trade whatever you want in Thailand. Suggest you do so by staying under the radar. Good Luck 🍀
Anonymous *************
OP@James *******
irrelevant, isn’t it?Kurt *************
no
Anonymous *************
OP@Kurt ************
why?Kurt *************
Anonymous participant its the rules??
Anonymous *************
OP@Kurt ************
hmm 🤔Yhadnapa ***************
No. To do any of those, you’ll need a Thai bank account in your name. Which you cannot get a Thai bank account in your name on DTV.
Anonymous *************
OP@Yhadnapa **************
thanks for your answer. I am a bit puzzled about it, since binance th accepts dtv visa holders as clients.May I ask if you speak out of experience or if your statement is based on common sense?
It's obvious that a thai bank account is needed to deposit and withdraw THB, but binance th allows to deposit in usdt... and if I don't plan to withdraw anything...
My main concern is if trading is considered to be work that requires a work permit or not. In other words, if I would violate the soft power dtv rules.
Yhadnapa ***************
Anonymous participant I’m not a lawyer, but Thai law defines “work” very broadly, basically any activity done in Thailand for money or some kind of benefit, even if it’s online and even if the money comes from outside Thailand. So on paper, actively trading as a regular, ongoing activity can be interpreted as work. That’s why visas without work rights (including DTV) sit in a legal gray zone here.
And yes, Binance TH (or other Thai platforms) may accept DTV holders for KYC. That just means you’re allowed to open an account. It does not mean immigration has suddenly given you work rights. Those are two totally different systems that don’t care about each other as much as people think they do.
To actually on-ramp/off-ramp THB, Thai exchanges normally require a Thai bank account in your own name. And in practice, DTV holders usually can’t open one. So sure, you can deposit USDT or crypto from abroad and trade, but then you’re basically just using a Thai-registered interface, not the Thai banking system.
Opening an exchange account ≠ having permission to “work” in Thailand.
And yes, Binance TH (or other Thai platforms) may accept DTV holders for KYC. That just means you’re allowed to open an account. It does not mean immigration has suddenly given you work rights. Those are two totally different systems that don’t care about each other as much as people think they do.
To actually on-ramp/off-ramp THB, Thai exchanges normally require a Thai bank account in your own name. And in practice, DTV holders usually can’t open one. So sure, you can deposit USDT or crypto from abroad and trade, but then you’re basically just using a Thai-registered interface, not the Thai banking system.
Opening an exchange account ≠ having permission to “work” in Thailand.
Yhadnapa ***************
Anonymous participant Yep, that’s pretty much it. The law cares less about what you’re doing and more about whether it looks like your main income activity. Traders kind of fall into the “not really a job, but still counts as work” black hole. Thai logic is special 🤣
Anonymous *************
OP@Yhadnapa **************
thanks for that extended answer. I think that answers it sufficiently. If I would do it that could be interpreted as work, or broader formulated as my main economic activity, which makes sense. So I should have a work permit. But at the same time, from what I read so far, getting a work permit for trading is very unlikely, because in this context trading is not seen as proper work...
I have to rethink my life decisions once again 😅
Greg ********
Anonymous participant I am sure there are retirees and spouses using those platforms without a WP.
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