I am here on a DTV visa and will shortly invest into a business here in Thailand (and yes, I’m well aware of my rights, obligations, Thai partners etc).
However I need to open a bank account to do so.
I am looking to deposit 1 million baht initially.
Does anyone know a bank that would allow me to open the account?
I’m of Scandinavian nationality and have all my finances in order, can also provide a Thai guarantor.
Have a good day and thanks in advance!
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TLDR : Answer Summary
An expatriate on a DTV visa is seeking advice on opening a bank account to deposit 1 million baht for a business investment in Thailand. Community responses suggest that while it is possible to open a business under the DTV visa, operating it and paying oneself is more complicated. Recommendations include transferring funds to a Thai partner to establish the business and then applying for a Non-B visa as a company director to facilitate banking and legal recognition.
Anonymer Teilnehmer well you invest into a thai business. so you literally make business with a local entity. exactly what is prohibited under the DTV. no? but if you just want to put money into a company as an invest then you can surely use a swift transfer from abroad. or use Wise. no need for a local bank account. so i guess you are not telling the whole story here or something is fishy.
We have a small guesthouse and our Thai partner/friend organised all that for our business, that was 3.5 years ago, we are now here on DTV visa, we don't do anything physical and it only makes enough money to pay her a wage and all the running expenses, we did it mainly because during covid our Thai friend lost her hotel job so we helped her out by starting up our guesthouse so she would have a job and be able to support her daughter, so just make sure the Thai person you use is definitely someone you can trust
I would suggest avoiding that under a DTV visa. While you can open a business under almost any visa or exemption, actually operating it and paying yourself is a different matter. The best approach would be to transfer the money to your Thai partner, have them open the company, and then transition yourself to a director position under a Non-B visa.
- This will allow you to open a personal bank account and receive a salary as a company director.
- You will gain some legal recognition by holding the position of director and may obtain the right of signature. Note that being a director with a Thai residence but without a Non-B visa is generally not possible.
- You will be able to be onsite for trainings, supervisions, etc. You can't work in Thailand on a DTV including working for your own business.
You are starting a business so you'll need a thai person to do that anyway, deposit into thier account to open the business, after opening the biz then they can open the biz bank account, don't know your biz but if you intend do anything online setting up stripe paypal etc at lot easier for the Thai national to do anyway
Anonymous participant you are on the wrong visa to currently open a bank account no matter what your reason. You should have an attorney for any business dealing anyway. They can help you get everything in order that you need.
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