So they tell you to put 500k THB in your bank to get a visa, then they close your bank account because you have a visa
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TLDR : Answer Summary
The discussion revolves around the requirements for having 500,000 THB to obtain a DTV visa in Thailand. Many commenters clarify that it is not necessary to hold this amount in a Thai bank; instead, it can be kept in a bank account in one's home country. Some also note that financial institutions in Thailand might close accounts due to strict regulations, not specifically because of visa status.
It can be in any bank and yes you can’t open an account on a tourist visa
Scooter *****
Doesn’t need to be a Thai bank
Dany ********
incorrect. you just need to have the money in your home countries bank account.
Tim ***********
Both those statements are factually incorrect. You need to show 500k + in any bank account (just use your home country bank) and no, they are not closing bank accounts because you have a visa. They are closing bank accounts that due to tightened security measures to combat financial fraud and money laundering (mule accounts).
Stephanie ********
Who told you to put it in a Thai bank🧐 that is not a requirement for the DTV. Just proof it is in your bank account of the equivalent currency.
Anonymous ******************
I had a Thai bank account before I applied and it was okay. They even asked for statements from both accounts and my tax ID and it was fine.
Elías ********
It's the equivalent to 500K baht, in your currency, in your country. Not in Thailand.
I didn't say otherwise. But it's not mandatory at all to have it on a Thai bank. Not forbidden, either, but remember many DTV applicants have never been to Thailand even once before getting the visa.
You did say in your country, which it doesn't have to be. I didn't suggest it was mandatory to be in a Thai account just that many have been approved with the funds in a Thai account
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Ray *****
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Anonymous ******************
The DTV is around the principle of you paying taxes in your home country, so the money must be in your home country (or country where you pay your taxes)
Sweet *****
Anonymous participant 693 not so long ago people were trying to convince DTV holders they will be paying tax in Thailand if staying 180+ days per year, but you are absolutely correct, DTV was always intended for non residents who are paying taxes in another country.
Sweet *****
Christer Bau as I said move on, you are about 6 months too late joining the debate, it’s old news and no longer a debate amongst Thailand expats.
"This depends on the duration of your stay. According to Thai tax law, anyone who stays in Thailand for over 180 days out of a calendar year will be considered a tax resident by the Thai government. You will be liable to pay Thai income taxes on your foreign income if you are a tax resident."
not the official Thai embassy website, it’s a dummy one set up by a visa agent for marketing its services. In fairness they do say this in the small print at the bottom of the pages, chances are you will be one of the 99% of visitors who didn’t notice this.
Christer *****
Just Google " New tax law for foreigners in Thailand".
So many law firms say the same, but you are probably right; right?
oh the naivety of some. Just another illegal tax advisor who capitalised and took advantage of what will prove to be the biggest hoax we have seen this decade. This is such an old worn out/forgotten subject I can’t believe I’m even taking the bait by responding.
"Tax Resident: Anyone who stays in Thailand for more than 180 days cumulative (not consecutive), regardless of nationality or residence status in Thailand"
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Christer *****
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Ray *****
Anonymous participant 693 DTV has got nothing to do with paying taxes, stop talking nonsense
Pete *******
Anonymous participant 693 nonsense
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Pete *******
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Andrew *******
And the bank won't allow to make any transaction but accept incoming. What a joke!! 😂😂
that might not be true. I can not access the banking app but I can use the debit card to make payments. I am also told I can log in on line but I dont know the log in details.
I believe i got my login from the ATM. Somewhere in the menu under other services ;Bangkok bank) for some reason back when i did this recurring transactions were only available on the web version. Now it’s in the app, too
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Alain ***************
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John **********
Simply don't put in a Thai bank account. Your home bank account is ok
John Stanners Tax department will destroy my bottom if I put it in my home country
John **********
Anonymous participant that sounds like tax evasion ha ha
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John **********
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Anonymous ******************
Nope you must have the money in your country.
John *********
Anonymous participant 758 no that is not correct it can be in a,Thai acc if you have one.
John *********
They aren’t closing every foreigner’s Thai bank account, they are usually targeting mule accounts with unusual transactional activities and of course there are a lot of those particularly in areas like Bangkok,Pattaya,Phuket, Hua Hin & Chiang Mai.
the question between can you and should you is irrelevant. But do it if you want to risk access to your money. To be clear, for this specific visa, the DTV, it is not advisable unless the regulation has changed.
- The location of the money doesn’t matter for DTV, unlike some of the retirement and other visas which explicitly require the money to be in a Thai bank account.
Ray *****
DTV_BegPecker exactly and Thai accounts are acceptable
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Ray *****
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Steve *******
Having your money in a THAI account isn't a requirement for DTV.