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What should DTV visa holders know about CRS and FATCA compliance in Thailand?

Common Reporting Standard (CRS)FATCA DTV Visa Tax Reporting Bank Accounts in Thailand Foreign Clients Tax Identification Number (TIN)International Tax Compliance

Feb 20, 2025

2 months ago

Greg ********

ORIGINAL POSTER

Earlier in the year foreign clients of Kasikorn Bank received communication about Commonn Reporting Standard (CRS) and FATCA (for US citizens). There was a need to complete and submit forms.

Now Bangkok Bank has started the communication and it is predicted all foreign account holders of accounts in all banks will have to complete the forms.

The main question for DTV holders on the form is "Country of Residence" and "TIN" or if no TIN specific reason. This is for Tax Reporting to country of residence which Thailand signed up to.

Please do not shoot the messenger :-) :-)

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TLDR : Answer Summary

Foreign clients, including DTV visa holders, have begun receiving requests from banks in Thailand regarding compliance with the Common Reporting Standard (CRS) and FATCA. These regulations require clients to complete forms detailing their country of residence and Tax Identification Number (TIN) for international tax reporting purposes. There is a discussion among users about whether DTV holders might find it easier to open bank accounts due to these developments, despite some misconceptions about their current banking limitations.

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Steffi ***********

Why is this relevant, when DTV Visa holders cannot even open a bank account ? I‘m asking for a friend 😇

2 months ago

Greg ********

ORIGINAL POSTER

@Steffi **********

Many DTV holders have bank accounts. Are you asserting otherwise?

2 months ago

Reply to

Greg ********

David ***********

Since DTV isn’t considered a tourist visa, you might wonder if this might make opening a bank account easier in the future. While these forms are part of international tax compliance and don’t directly simplify the account opening process, they do show banks are engaging with DTV holders as valid customers.

2 months ago

Henrik *****

You may not consider DTV a tourist visa, but the Thai authorities and Thai banks do.

That has been clear from day 1

They will not make DTV eligable in a foreseebar future, because it is not a long term visa, where you reside at a permanent adress for years.

Which isn’t what digital nomads do.

So dream on.

2 months ago

Henrik *****

No you can’t.

You can stay 180 days.

2 months ago

Andi ***********

@Henrik ****

There are plenty of DTVers in Thailand past 180 days. You can stay 5- 6 years with it as you know.

2 months ago

David ***********

@Henrik ****

Yes you can. All that’s necessary is a brief trip outside Thailand every 180 days.

2 months ago

Reply to

David ***********

@Henrik ****

You can reside in Thailand for years on a DTV. But for me the point may soon be moot.

2 months ago

Reply to

David ***********

Greg ********

ORIGINAL POSTER

@David **********

There is no change in banks engaging with DTV holders. All the barriers to opening an account remain in place as a DTV Visa holders. This applies to those already with accounts and will be asked of those opening new accounts.

2 months ago

David ***********

@Greg *******

Yeah, we’ll see how the situation evolves. It seems they’re focused on reducing money mule / scam operations and we’re caught in the crossfire.

2 months ago

Greg ********

ORIGINAL POSTER

@David **********

Yes the scam situation is the focus but Thailand also signed up to the CRS (Comkon Reporting Standards) and these seem focuses on that. Reporting on bank accounts, ATM withdrawals, tax payments and more. Basically the signatory countries want to track their citizens taxes.With the other restrictions against scammers it is harder to hold a Thai account. The BoT rules brought in 17th Feb already has people needing to go to their Telco to get a document for their banks

2 months ago

Reply to

Greg ********

How can expats with a DTV Visa open a bank account in Thailand amid new regulations?

49 comments

2 months ago

What are the implications of the new banking regulations for expats in Thailand regarding bank accounts?

29 comments

2 months ago

How can DTV visa holders open a bank account in Thailand if banks are now requiring a payroll account?

44 comments

2 months ago