Hi all, I'm new to this group and thought it would be best to ask about my situation directly as it's pretty specific, but might be able to help some people in the future (and hopefully isn't too redundant)...
I'm an American living in South Korea, planning to move to Thailand with the DTV. I have the 500K baht in my bank account, but currently I co-own a bar in Seoul. We just opened our new location after several months of downtime, so I have no real reportable income for the last 3+ months. I own an LLC in the US which holds ownership in the Korean bar - I've structured it this way because, while I do currently have a visa that allows me to be a co-owner / "employee" of my own bar, at some point my Korean visa will expire. Having my American LLC hold ownership allows legitimate ownership in perpetuity.
ANYWAY, the 500K baht is in my Korean bank account. As proof of income, I could use my LLC, which would write me a letter (to myself) explaining what I do, that I can work abroad in Thailand, etc. But even if it starts generating income from my bar this month, that would go into my business bank account, which is a Wise account - different from my Korean one.
All of this boils down to:
1. How strict do they tend to be about proof of consistent income from freelancers/self-employed applicants?
2. For the sake of the application, would it be better to position myself as a consultant/freelancer for the bar (operations, directions etc.) and invoice the bar from my LLC, rather than just state I'm an owner?
3. Should the bank account where I'm proving income be the same as the one where I have my 500K baht savings?
4. If yes to the above, would it be better to show my contract with my own bar co-owners, and my registration as an employee in Korea? Or better to accept payment to my LLC, then send it back to my Korean bank (forfeiting the expenses of that double exchange, obviously...)
I know this is quite complex, I'm curious if anyone has any (even slightly) similar experience, but any insight on how to approach the application process would be really appreciated.
Thank you all!
TLDR : Answer Summary
The user discusses their situation regarding applying for a DTV visa in Thailand while being self-employed and co-owning a bar in Korea. They have 500K baht in their bank account but question the requirements for proving consistent income, whether to classify themselves as a consultant, and if their bank account for proving income must match where their funds are. Comments provide mixed insights on the DTV suitability and documentation needed, indicating a need for clarity on visa criteria.
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