Will my application for the DTV visa be rejected if I have no income from my recently established business?

Question

Hello everyone,

I am gathering all the documents to apply for the DTV, but there is something that concerns me. I plan to apply as a Business Owner, but the issue is that I created my company (a US LLC) only three months ago. I am still in the product development phase, so I currently have no income.

Although I can provide a cover letter explaining my situation, a guarantee that I will work 100% online, and the Certificate of Incorporation proving ownership, I cannot provide tax filings or an income statement.

Will this be cause for rejection? I can compensate with the financial proof part, as I have well over 3M THB in savings, but I am not sure if that solves the issue. I will be applying at the Madrid embassy.

Many thanks!

Ask Thailand · Answer

The user is preparing to apply for a DTV visa as a business owner but is concerned about not having any income from their recently established US LLC, which is still in the product development phase. They possess sufficient savings (over 3M THB) and plan to submit a cover letter explaining their situation. The feedback from comments raises concerns about income requirements and suggests alternative visa routes that may have less stringent income criteria.

Cara ********* · Answer

I only submitted my EIN, business formation registration.  They didn’t ask for my business income they asked for proof of required funds in the bank so I submitted October, Nov and Dec bank statement from my savings acct.  The also requested a letter from my HR or CEO for a letter like proof of work, I have a nonprofit so my letter came from my board, stating my position is that of an Independent Executive Contracted ED/Founder, my start date and that I can work from anywhere and that my work is ongoing

Axel ******* · Answer

It looks like you would apply under workcation category which does require income and payslips.

So you could try and explain that you are in development and have no income yet but have 3m in funds. But I think you will get rejected as you don’t meet income requirements as much as no minimum income is published.

Although I suspect the better option would be the soft power route as this does not require income and 3M should be more than sufficient

Will my application for the DTV visa be rejected if I have no income from my recently established business?

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