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Thailand tightens bank account opening policies, DTV visa becomes the preferred alternative for foreigners.

PASA News
PASA News
·Mars

Thailand has recently tightened its policy on foreign tourists opening bank accounts within the country, directly affecting the application for retirement visas and dependent visas. As these types of visas require depositing 400,000 to 800,000 Thai Baht in a Thai bank and maintaining an active account, many foreigners have turned to the Digital Nomad Visa (DTV) which has a lower threshold.

According to officials from Thai diplomatic missions abroad, in the past year, about 70 Thai diplomatic institutions worldwide have issued over 120,000 DTVs, a significant proportion of which came from neighboring countries such as Laos and the Philippines. The main attraction of the DTV is that applicants do not need to open a local account in Thailand; they only need to have 500,000 Thai Baht in a financial institution abroad, significantly lowering the threshold.

Thai immigration lawyer Jessataporn Bunnag pointed out that the DTV is applicable to a much broader group than just digital nomads, including foreign families, long-term travelers, students, and medical tourists, all of whom have increasingly turned to it. He emphasized that many applicants are not remote workers but are people forced to give up other long-term visas due to banking restrictions.

Compared to traditional visas, the DTV has clear advantages: no mandatory medical insurance purchase, a validity of five years, multiple entries allowed, and a maximum stay of 180 days per entry without the need for frequent bank statement updates or re-entry permits. Charles Weston, a professional in the Thai tourism industry, stated that this makes long-term stays more flexible and convenient.

However, the DTV also has limitations. For example, the validity of a driver's license can only be extended to two years, bank transfers still rely on international channels, the application process must go through foreign missions and requires a reasonable activity rationale, and the waiting time can vary from several days to several weeks. Additionally, whether taxes are due for stays exceeding 180 days is still pending official confirmation.

Despite this, feedback on social media shows that most holders have a smooth entry and exit process while adhering to the 180-day stay limit. Industry insiders generally believe that with the tightening of bank account opening policies in Thailand, the DTV will continue to attract more foreigners and become the new mainstream choice for long-term stays.

泰国
泰国
#政策分析#产业AIThailandBankingAIThailandImmigrationAILongTermVisaAIExpatLivingAIDTVAIDigitalNomadVisa

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