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

DTV Visa CRS FATCA Tax Reporting Banking Regulations Thailand Visa Rules

Feb 20, 2025

3 days 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

In light of recent communications from Kasikorn Bank and now Bangkok Bank regarding the Common Reporting Standard (CRS) and FATCA compliance, foreign account holders in Thailand, including DTV visa holders, need to complete specific forms related to their tax status. The forms require information on 'Country of Residence' and Tax Identification Number (TIN). Although DTV visa holders have had challenges opening bank accounts in the past, these regulatory steps indicate that banks are beginning to recognize DTV holders as legitimate clients. However, some confusion remains about the account opening process for DTV holders.

DTV VISA RESOURCES / SERVICES

Take the basic DTV Qualification Test to see if you're eligible for the Destination Thailand Visa (DTV).
For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
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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 😇

a day ago

Greg ********

ORIGINAL POSTER

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

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

a day 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 days 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.

a day ago

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

@Henrik ****

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

a day ago

Henrik *****

No you can’t.

You can stay 180 days.

a day ago

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

@Henrik ****

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

19 hours ago

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

@Henrik ****

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

21 hours 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 days 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 days 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 days ago

Reply to

Greg ********

What are the tax implications for DTV holders residing in Thailand and how to find a local accountant knowledgeable in tax treaties?

32 comments

3 days ago

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

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4 days ago

What is the best agent for DTV visa assistance and how can one open a Kasikorn bank account in Thailand?

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6 days ago