What documents are required to prove financial stability for the Destination Thailand Visa (DTV) application?

Comprehensive Guide to Applying for the Destination Thailand Visa (DTV) for Business Owners

1. Introduction

The Destination Thailand Visa (DTV) is a newly established visa category aimed at attracting remote workers, digital nomads, and business owners to Thailand. This visa permits multiple entries over a five-year period, with each entry allowing a stay of up to 180 days.

2. Eligibility Criteria

As a business owner, your eligibility for the DTV requires that you conduct business operations remotely and generate revenue from sources outside Thailand. Additionally, you must demonstrate financial stability to support yourself independently during your stay, without seeking local employment.

3. Required Documents and Detailed Instructions

3.1. Financial Evidence

To prove that you have sufficient financial resources, you need to provide individual bank statements for the last six months, showing a minimum balance of 500,000 THB (approximately $

15,000). These statements must be in English and must come from savings or deposit accounts, as statements from investment accounts, cryptocurrency accounts, PayPal accounts, or business accounts are not accepted. It is crucial that these bank statements consistently show the required minimum balance over the past six months, reflecting your financial stability.

3.2. Company Profile

The company profile provides the Thai authorities with a comprehensive overview of your business, demonstrating its legitimacy and success. This profile should include a brief account of how and when your company was founded, its vision and mission, a detailed description of the primary products and services offered, and any major accomplishments or recognitions your business has received. This document should be prepared in a formal business letter format.

Sample Company Profile:

[Company Letterhead]

Date: February 1, 2025

To Whom It May Concern,

Subject: Company Profile

History & Background:

[Company Name] was established in [Year] by [Founder’s Name] with the aim of [Purpose/Objective]. Over the past [Number] years, we have grown from [Initial Size/Scope] to [Current Size/Scope].

Vision & Mission:

Our vision is to [Company Vision]. Our mission is to [Company Mission], aiming to provide [Products/Services Description].

Products & Services:

We specialize in [Product/Service 1], [Product/Service 2], and [Product/Service 3]. These offerings have allowed us to serve clients such as [Client Example 1] and [Client Example 2].

Achievements:

Achievement 1: Description (e.g., awards, significant growth milestones).

Achievement 2: Description.

Achievement 3: Description.

For further information, please contact us at [Your Contact Information].

Sincerely,

[Your Full Name]

[Your Position]

[Company Name]

[Contact Information]

3.3. Financial Statements for 2023 and 2024

Your application must also include financial statements for the fiscal years 2023 and 2024 to provide proof of your business’s financial health and stability. These documents should comprise a balance sheet detailing your company’s assets, liabilities, and shareholders' equity; an income statement showing your company’s revenues and expenses, leading to the net profit or loss; and notes to the financial statements which provide additional context and explanations. These statements should be prepared by a certified accountant.

3.4. Professional Portfolio

To showcase your professional experience and credentials, compile a detailed portfolio highlighting significant projects, client testimonials, and major accomplishments. This portfolio should demonstrate at least three years of relevant work experience and clearly underscore your expertise and reliability in your industry.

3.5. Business Registration Documents

To validate your ownership and the legal standing of your business, you need to provide a Certificate of Incorporation or an equivalent official document indicating the registration and incorporation of your company. This document should include essential details such as your name, business name, registration number, and date of incorporation.

4. Proof of Foreign Income

You must ensure that your primary source of income is from outside Thailand. To do this, provide documentation such as contracts and invoices that show ongoing and consistent income from foreign sources. These documents should clearly demonstrate your business transactions and income sources, reinforcing your claim of foreign revenue.

5. Proof of Current Location

It is important to confirm that you are applying from outside Thailand and have a stable residence. Provide recent utility bills, a lease agreement, or other formal documents showing your current address outside Thailand. If these documents are not in English, they must be officially translated and notarized. Ensure these documents are current, within the last six months, and clearly show your name and address. This helps verify your place of residence for the application.

6. Passport Specifications

Your passport must be valid for at least six months beyond your intended stay in Thailand. You will also need to provide color scans of all pages with stamps from the past twelve months. These scans must be clear, with all personal details and biometric data easily readable, ensuring there are no issues with verifying your passport’s validity and travel history.

7. Health Insurance

To ensure you have adequate medical coverage, you must provide proof of health insurance with a coverage amount of at least

$50,000 for medical expenses, valid in Thailand. The insurance policy document should clearly state your name, coverage amounts, and the validity period, and must specifically cover medical treatment in Thailand.

8. Personal Background Check

A personal background check is required to verify that you have no criminal record. Obtain a Police Clearance Certificate (PCC) from the FBI, which involves a fingerprint-based background check. If the PCC is not in English, it must be translated and notarized. This certificate ensures that you have no criminal history that could potentially inhibit your visa approval.

9. Embassy-Specific Requirements

Depending on the Thai embassy or consulate to which you are applying, there might be additional requirements. Some might ask for proof of accommodation in Thailand, such as a rental agreement for at least six months. Additionally, you may need to provide a round-trip flight itinerary, even though the visa permits multiple entries. The visa application fee is approximately $350, and it is non-refundable. Therefore, ensure all your documents are in order and fulfill the specific requirements of the embassy before making the payment to avoid any potential issues.

When HCMC ask for financial proof that you have already submitted, I think it's because they want to see a very recent bank statement that shows the money is still there. I was involved with an application there and they asked for the same thing. A statement with today's date on it will show them that you didn't just borrow the money for a day then give it back.

When embassies/consulates ask for things you have already submitted I think it's because they either want more detail, some clarification, or a more up to date version of what you've given them. I do not think they just want the same document again.

(Is it needed) well I would say yes but you don't have to give it to them if you don't want to but then again you properly won't get your visa up to you.

Does anyone know what’s the difference between Financial statement and bank statement for 500k? Or the difference is only in dates? So actually they want money history for 2 years?

am i wrong, or is there a relevant "OR", which all of you have been ignoring?? it says show statements and balance OR combination of bank accounts showing 500k… so eithe statements or account(s) with 500k… 🤔

It might help if you show statements from the last 6 months. I do think it's silly that they do not accept stocks/broker accounts.

These are the exact questions I was asked a week ago. Use chat gpt to write your cover letter and information and company mission etc. for 2023 financials include the tax return with notes about deductions, profit loss etc.

If they are asking for it, then it is needed. Can you tell how did you originally show that you had 500k? What type of account, etc.?

Which embassy or consulate?