Answereda year ago
Do I need to deposit 500k THB in a Thai bank for my visa?
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
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.
46 repliesnewest first
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Bob **********
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.
Ray *****
@Elías *******
I have to question your statement. Many have had a DTV issued with Thai bank statements. There is nothing in the rules that prohibit thatElías ********
@Ray ****
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.Ray *****
@Elías *******
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
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.
Christer *****
@Sweet ****
From the Thai embassy page regarding tax."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."
Paul *******
@Christer ****
There is no new tax law and certainly none specifically for foreigners. An absolute lie.Christer *****
Sweet *****
@Christer ****
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.Christer *****
Just Google " New tax law for foreigners in Thailand".
So many law firms say the same, but you are probably right; right?
So many law firms say the same, but you are probably right; right?
Christer *****
ExpatThailand says the same
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Christer *****
@Sweet ****
From Siam Legal. New law 2024 I believe."Tax Resident: Anyone who stays in Thailand for more than 180 days cumulative (not consecutive), regardless of nationality or residence status in Thailand"
Sweet *****
@Christer ****
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 *****
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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
Andrew *******
And the bank won't allow to make any transaction but accept incoming. What a joke!! 😂😂
Nick ************
@Andrew ******
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.Anonymous ******************
@Nick ***********
that's true and we had tried
Alain ***************
@Nick ***********
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
John **********
Simply don't put in a Thai bank account. Your home bank account is ok
Anonymous *************
OP@John *********
John Stanners Tax department will destroy my bottom if I put it in my home countryJohn **********
Anonymous participant that sounds like tax evasion ha ha
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.
Anonymous ******************
@John ********
Nope cozy they close it so fast they know you have DVT. For two months and before its was different.
Nick *******
Anonymous participant 758 not true. But sensible I would say!
Anonymous ******************
Anonymous participant 758 100% false
Ray *****
Anonymous participant 758 that is not the rules at all. Many have been accepted with Thai bank accounts
Anonymous ******************
@Ray ****
Yes thats the role. How it was before its another thing.Stephanie ********
@Ray ****
and now they have limited to no access to those Thai accounts because 🔝
Jussi ********
@Stephanie *******
you are 100% rightStephanie ********
@Ray ****
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.Ray *****
@Stephanie *******
yet they haven't for all the accounts. Yes some have had issues. Mainly those opened Via agents, no real surprise there.DTV_Be*******
@Ray ****
- 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
Steve *******
Having your money in a THAI account isn't a requirement for DTV.
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