Answered2 years ago
What steps should I take to apply for a Digital Nomad Visa (DTV) in Thailand?
I am thinking of applying for a DTV using the workcation route. I am not in a big hurry and requesting first hand information from people who have applied for DTV from the USA (Chicago embassy).
I have a website that makes around $500/month from Google AdSense. I'm stashing that money into a separate HIS account, and now it has a little over $16K USD. I don't use the money for my living expenses.
I'm also a so-called 401(K) millionaire, and every two weeks I sell around $4,000 of VOO shares for my expenses, and I will continue to do so till I get my social security at FRA in 2028.
I live four months in Thailand (not continuously), four months in Portugal, and four months in the USA. I have a house in the USA, a condo in Thailand, and an apartment in Albufeira (Portugal).
For my business, I file US tax as a sole proprietor along with my 401(k) withdrawals. I have ACA health insurance that covers 50% of my emergency expenses anywhere in the world.
At present I use an agent assisted non-O retirement extension with a reentry permit costing me around 17K baht/year
Is it prudent to get a DTV, and if so, how should I proceed? For example, set up an LLC, a state registered company, or anything else. First hand experience is appreciated.
I have a website that makes around $500/month from Google AdSense. I'm stashing that money into a separate HIS account, and now it has a little over $16K USD. I don't use the money for my living expenses.
I'm also a so-called 401(K) millionaire, and every two weeks I sell around $4,000 of VOO shares for my expenses, and I will continue to do so till I get my social security at FRA in 2028.
I live four months in Thailand (not continuously), four months in Portugal, and four months in the USA. I have a house in the USA, a condo in Thailand, and an apartment in Albufeira (Portugal).
For my business, I file US tax as a sole proprietor along with my 401(k) withdrawals. I have ACA health insurance that covers 50% of my emergency expenses anywhere in the world.
At present I use an agent assisted non-O retirement extension with a reentry permit costing me around 17K baht/year
Is it prudent to get a DTV, and if so, how should I proceed? For example, set up an LLC, a state registered company, or anything else. First hand experience is appreciated.
Answer summary
The user is considering applying for a Digital Nomad Visa (DTV) in Thailand, sharing their financial situation and living arrangements. They seek firsthand experiences from others who have successfully obtained the DTV, particularly from the Chicago embassy. Key advice from commenters includes the necessity of registering a business, maintaining a specific bank account balance, and having valid documentation such as proof of address and evidence of business activities. Additional considerations involve U.S. tax implications and the legalities surrounding business registrations in Thailand.
25 repliesnewest first
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Lee ******
Thats cool. Do you go to "The Strip" in Albufeira?
Anthony *******
I see the DTV as a way to tax digital nomads...
Wiz *******
First hand experience regarding what was sufficient to get the DTV at the Royal Thai Embassy in DC:
1. Uploaded passport bio page
2. Uploaded proof of address (driver's license) * make sure that the address you use is indeed in the jurisdiction corresponding to the embassy/consulate where you derive your electronic application*)
3. Uploaded LLC formation document showing the applicant as a sole proprietor (may be two separate documents, joined together as a continuous pdf, one showing the LLC formation and the second showing the ownership)
2. Uploaded state license to operate the business (may or may not be applicable in your case)
3. Uploaded most recent bank statement, personal account showing ending balance above the threshold.
4. Uploaded a work contract, written by the sole proprietor confirming that he is the sole proprietor, performing the specified work completely remotely, without geographic limitations.
Nothing else was asked for, no tax returns, no additional supporting documents, no payslips.
Approved in 14 business days.
Best of luck to you🤞🍀 🙏🏻
1. Uploaded passport bio page
2. Uploaded proof of address (driver's license) * make sure that the address you use is indeed in the jurisdiction corresponding to the embassy/consulate where you derive your electronic application*)
3. Uploaded LLC formation document showing the applicant as a sole proprietor (may be two separate documents, joined together as a continuous pdf, one showing the LLC formation and the second showing the ownership)
2. Uploaded state license to operate the business (may or may not be applicable in your case)
3. Uploaded most recent bank statement, personal account showing ending balance above the threshold.
4. Uploaded a work contract, written by the sole proprietor confirming that he is the sole proprietor, performing the specified work completely remotely, without geographic limitations.
Nothing else was asked for, no tax returns, no additional supporting documents, no payslips.
Approved in 14 business days.
Best of luck to you🤞🍀 🙏🏻
Deepak *******
OP@Wiz ******
I have never formed an LLC but see lots of online services offering the service. Do you have any recommendations? I was checking how to register a business in IL, and it seems it can be done online in a minute.
Do I need both the LLC and state registration?
What is an LLC agent?
I don't have a work contract. I have a website and make money using AdSense now, and my future plan is to introduce subscription-based services along with AdSense.
Alice ************
@Wiz ******
what did you write in the work contract?
Keith ************
There's no income requirement for the DTV. But yes, your business must be registered and you should have a separate bank account.
Most places don't accept retirement or investment accounts to meet the 500k baht requirement. So put that money in a savings or checking account unless you already have 500k in checking or savings. How long it needs to be in there varies by where you apply. Hopefully, someone with more specific knowledge of Chicago can chime in.
Most places don't accept retirement or investment accounts to meet the 500k baht requirement. So put that money in a savings or checking account unless you already have 500k in checking or savings. How long it needs to be in there varies by where you apply. Hopefully, someone with more specific knowledge of Chicago can chime in.
Deepak *******
OP@Keith ***********
sufficient money exists in a High interest savings account, ally bank.Wannikea *********
Too much information. You need to show 500K, you need to provide your company registration and tax return/info, you need to show sole proprietorship, you need to write a company letter for yourself authorizing remote/freelance work and possibly why Thailand is suitable.
Graham *******
Firstly, remember that after 179 day you are tax resident in Thailand if you are doing income drawdown on your 401k, whilst it is tax sheltered in America it probably is not so in Thailand as its an equity-based investment and therefore probably taxable. I am not sure about the validity of your US health insurance, I believe Medicade etc is. Problem we all have is this is a new tax system, and no one knows exactly how it work, even the tax office. For safety I would take advice from a Thai CPA. Setting up company's using nominees has become unsafe.
******************************************************************************************************
*****
47/business-nominees-in-phuket-face-jail-terms-finesDeepak *******
OP@Graham ******
Proxy businesses in Phuket have become a nuisance where mostly Russians and Chinese open up businesses reserved for Thais and employ illegal workers from Burma and Laos.Graham *******
@Deepak ******
.... and in Samui and in Pattaya and in Hua Hin. many Farangs are using nominee to buy land and land with house. It's illegal and there is a gov crack down underway. Do not buy a house owned by a company.Deepak *******
OP@Graham ******
YesDeepak *******
OP@Graham ******
please read my post thoroughly. I live in three countries for the whole year and never more than 6 months in a country. By the way, 401K withdrawal is not a tax shelter. 401K deposit is a tax shelter.Todd *********
@Deepak ******
Graham gets a little excited sometimes lolTodd *********
@Graham ******
looks like yours was… 😂 try to calm yourself before going off on the silliness 😂🙏Graham *******
@Todd ********
Ring piece twitching yet?
James ********
@Deepak ******
correctly stated ✅Wannikea *********
Non Imm O extension 17,000 baht a month 😱, surely you mean a year
Deepak *******
OP@Wannikea ********
sorry yes, yearly
Mo ******
We don’t understand American words and system. You should try to understand we are from other countries.
Deepak *******
OP@Mo *****
If you don't understand, don't reply :)Mo ******
@Deepak ******
I still want to reply.
Chris ******
@Mo *****
I agree. What is a 401k...please explain
Trev *********
@Chris *****
401k is US retirement savings, similar to Australian superannuation. VOO is the US stock code for the S&P 500 index (a common investment ETF).
Robert ***********
@Chris *****
A form of retirement plan.Activity
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