Moving to Thailand: visas, tax and banking
Overview
Thailand draws founders, remote workers and retirees with its cost of living, its air connections across Asia and a choice of long-stay visas. None of them is an all-purpose residence permit: each visa has its own purpose, conditions and reporting duties, and the right to work is a separate question from the right to stay.
For tax, what counts is your time in the country, not your visa. Under section 41 of the Revenue Code, a person who stays in Thailand for 180 days or more in a tax year, which is the calendar year, is resident. Residents pay tax on Thai-source income and, under the Revenue Department's Order Por. 161/2566, on foreign income earned from 1 January 2024 in a year of residence, once they bring it into Thailand, even in a later year. Foreign income earned before 2024 stays outside that rule.
Foreign investors usually work through a Thai private limited company. Once foreigners hold half or more of its shares, the Foreign Business Act applies: some activities stay closed to the company, others need a licence, and the Act's exceptions run through BOI investment promotion or a treaty.
The routes at a glance
| Route | Run by | Built for |
|---|---|---|
| Long-Term Resident (LTR) visa | Board of Investment | Wealthy global citizens, wealthy pensioners, remote workers of established foreign employers, highly skilled professionals |
| Thailand Privilege visa | Thailand Privilege Card Co., Ltd., a state enterprise | Members of the programme, without an income or investment threshold |
| Destination Thailand Visa (DTV) | Ministry of Foreign Affairs | Remote workers and freelancers, Thai soft-power activities, their families |
| SMART S visa | Board of Investment | Startup founders in the targeted industries |
| Non-Immigrant O-A and O-X | Ministry of Foreign Affairs and Immigration Bureau | Retirees aged 50 and over |
| Non-Immigrant B with a work permit | Ministry of Foreign Affairs and Department of Employment | Employees and business owners working for a Thai entity |
Redomiciled coordinates the visa file, the company formation and the banking assessment, working with licensed Thai lawyers and accountants. We are not a law firm and do not give tax advice; those professionals do.
Explained in our guides: Tax Residency and the 183-Day Rule: How Countries Decide Where You Pay Tax
Thailand long-stay visas: LTR, Privilege, DTV and retirement
In Thailand a long stay rests on a visa, each with its own purpose, conditions and reporting duties. As of November 2026 the main routes are the Long-Term Resident (LTR) visa of the Board of Investment, the Thailand Privilege visa, the Destination Thailand Visa (DTV), the SMART S visa and the retirement visas O-A and O-X.
Choosing a route starts with two questions: what you will do in Thailand, and what you can document. Some visas rest on income or assets, one on a membership, others on an activity or an employer. Only some of them allow work, and every one of them brings duties after arrival.
Routes compared
| Route | Who it is for | Stay | Work in Thailand |
|---|---|---|---|
| Long-Term Resident (LTR) | Wealthy global citizens, wealthy pensioners, remote workers of established foreign employers, highly skilled professionals | 5 years, renewable for 5 more | Digital work permit for those who qualify as professionals; not for remote workers |
| Thailand Privilege | Members of the programme; no income or investment threshold | 5 to 20 years, by membership tier | Not by default |
| Destination Thailand Visa (DTV) | Remote workers and freelancers, Thai soft-power activities, spouses and children under 20 | Up to 180 days per entry on a 5-year multiple-entry visa | Not on the BOI's list of visas that permit work |
| SMART S | Startup founders in the targeted industries | 2 years | No work permit needed in the certified business |
| Non-Immigrant O-A | People aged 50 and over | 1 year, extendable a year at a time | Prohibited |
| Non-Immigrant O-X | People aged 50 and over from 14 countries | 5 years per stay, 10 years in total | Not intended for work |
| Non-Immigrant B | Employees and business owners of a Thai entity | 90 days, extendable up to 1 year | Once the work permit is issued |
Long-Term Resident (LTR) visa
The Board of Investment runs the LTR programme in four categories. Wealthy global citizens hold at least USD 1 million in assets and have invested at least USD 500,000 in Thai government bonds, Thai companies or Thai property. Wealthy pensioners are 50 or older with passive income of at least USD 80,000 a year, or at least USD 40,000 plus a USD 250,000 investment. Work-from-Thailand professionals and highly skilled professionals show average personal income of at least USD 80,000 a year over the past two years, or USD 40,000 with a master's degree, in science or technology for the highly skilled. Remote workers need an established foreign employer; highly skilled professionals work in the targeted industries or for Thai government agencies. Highly skilled professionals also need at least five years of work experience in the targeted industries within the last ten years; holders of a PhD and staff of Thai government agencies are exempt, and government staff are also exempt from the income threshold.
Every category needs health insurance with cover of at least USD 50,000, Thai social security or a deposit of USD 100,000 held for 12 months, and every condition must be kept for as long as the visa runs. The visa is granted for five years and renewed for five more if the conditions are still met. Holders report to immigration once a year instead of every 90 days and need no re-entry permit. Spouses and children under 20 can join, up to four dependants per holder.
Among the privileges, the BOI lists a 17% personal income tax rate for highly skilled professionals and a tax exemption for overseas income. Which of them applies to your income is a question for a Thai tax adviser.
Thailand Privilege visa
Thailand Privilege is a membership programme run by Thailand Privilege Card Co., Ltd., a state enterprise whose sole shareholder is the Tourism Authority of Thailand. Members receive a multiple-entry Privilege Entry visa valid for 5 to 20 years, depending on the membership tier. The programme sets no income or investment requirement beyond the membership itself. The programme's own comparison says the visa gives no right to work by default and no tax advantage, and members who stay more than 90 days in a row file the 90-day report.
Destination Thailand Visa (DTV)
The Ministry of Foreign Affairs issues the DTV for remote workers, digital nomads, foreign talent and freelancers, for people taking part in Thai soft-power activities such as Muay Thai, Thai cooking courses or medical treatment, and for their spouses and children under 20. It is a five-year multiple-entry visa with stays of up to 180 days per entry. The Immigration Bureau can extend a stay once by another 180 days; after that the holder leaves and re-enters on the same visa. Applicants show a bank balance of at least THB 500,000, and remote workers add an employment contract or a portfolio.
SMART S visa
The BOI's 2026 guide presents the SMART visa through its startup category, SMART S, for founders of technology-based startups in the targeted industries. It runs for two years, and its holders need no work permit to work in the business the relevant agencies certified. Applicants show a deposit of at least THB 600,000 held for three months and health insurance, take part in an endorsed incubator or accelerator programme or are endorsed by a government agency, and set up a company in Thailand within a year, holding at least 25% or sitting on its board.
Retirement visas O-A and O-X
The Non-Immigrant O-A visa is for people aged 50 and over who will not work in Thailand. They show a deposit of THB 800,000, a monthly income of THB 65,000 or a combination reaching THB 800,000, health insurance of at least USD 100,000, a criminal record certificate and a medical certificate. The stay is one year and can be extended a year at a time at the Immigration Bureau.
The O-X visa is open to nationals of 14 countries, among them the Netherlands, Germany, the United Kingdom and the United States, aged 50 and over. It allows five years per stay, ten years in total, against THB 3,000,000 in a Thai bank, or THB 1,800,000 plus annual income of THB 1,200,000, and health insurance from a Thai insurer.
Working: Non-Immigrant B and the work permit
Employment runs through a Thai employer. The Non-Immigrant B visa admits you for 90 days, and the stay can be extended up to one year from first entry; you may start work only once the Department of Employment has issued your work permit. The BOI's 2026 guide lists the usual conditions on the employer: THB 2 million of registered capital and four Thai employees per work permit, a ratio the LTR visa waives.
Who it suits
Wealthy individuals and investors
You hold substantial assets and can invest in Thai government bonds, Thai companies or Thai property: the LTR's wealthy global citizen category.
Remote workers and freelancers
You work remotely, for an established foreign employer (LTR) or as an employee or freelancer with a portfolio (DTV), and want to base yourself in Thailand.
Retirees
You are 50 or older with a pension or savings: the O-A or O-X visa, or the LTR's wealthy pensioner category if your passive income is higher.
Professionals and founders
You will work for a Thai employer or build a startup: the Non-Immigrant B with a work permit, the LTR's highly skilled category or the SMART S visa.
Requirements
- Required
A valid passport
Thai consulates ask for at least six months of validity; for the O-A visa the Ministry of Foreign Affairs asks for 18 months.
- Required
Proof of the route's financial threshold
Bank statements, income or pension records, or evidence of assets and investments that match the route, as the facts above set out.
- Required
Health insurance where the route asks for it
The LTR, O-A and O-X visas set a minimum cover; for the retirement visas the insurer completes Thailand's foreign insurance certificate.
- Required
Criminal record certificate
From your country of nationality or residence, for the DTV and the retirement visas.
- Required
Reporting after arrival
Your address goes to the Immigration Bureau every 90 days of continuous stay, unless your visa replaces it with a yearly report, as the LTR does.
- Depends on your case
Advice on tax residence before you move
Spending 180 days or more in Thailand in a calendar year makes you resident there; an adviser in your current country should confirm what changes at home.
Documents
- Passport and photographsThe biodata page and recent photographs, uploaded to the Thai e-Visa system or handed to the embassy.
- Financial evidenceRecent bank statements, income certificates or pension statements; LTR applicants add proof of their assets or investments.
- Work or activity documentsAn employment contract or portfolio for remote work, an acceptance letter for a course or a hospital appointment for the DTV, a Thai employer's documents for the Non-Immigrant B.
- Health insurance certificateThe policy with the required cover; for the O-A and O-X visas, the foreign insurance certificate signed and stamped by the insurer.
- Police and medical certificatesA criminal record certificate and, for the retirement visas, a medical certificate showing none of the prohibited diseases.
- Proof of residence where you applyThai embassies take applications from people living in their area; the retirement visa sheets ask for proof of permanent residence there.
- LTR visa validity
- 5 years, renewable for 5 moreAs of 3 November 2026 · [1]
- LTR wealthy global citizen
- USD 1 million in assets and USD 500,000 invested in ThailandAs of 3 November 2026 · [1]
- LTR wealthy pensioner, aged 50 or over
- Passive income of USD 80,000 a year, or USD 40,000 plus USD 250,000 investedAs of 3 November 2026 · [1]
- LTR work-from-Thailand and highly skilled professionals
- Average income of USD 80,000 a year over 2 years, or USD 40,000 with a master's degreeRemote workers need a listed employer, or one with 3 years of operation and USD 50 million revenue over 3 years; highly skilled professionals also need 5 years of experience in the last 10 (PhD holders and Thai government staff exempt)As of 3 November 2026 · [1]
- LTR health cover
- Insurance of USD 50,000, Thai social security or USD 100,000 held for 12 monthsAs of 3 November 2026 · [1]
- LTR reporting to immigration
- Once a year instead of every 90 daysAs of 3 November 2026 · [1]
- Thailand Privilege visa validity
- 5 to 20 years, by membership tierAs of 3 November 2026 · [3]
- Destination Thailand Visa (DTV)
- 5 years, multiple entries; up to 180 days per entryAs of 3 November 2026 · [6]
- DTV extension of stay
- Once, by another 180 daysAs of 3 November 2026 · [7]
- DTV proof of funds
- Bank balance of at least THB 500,000As of 3 November 2026 · [6]
- SMART S visa (startups)
- 2 years; no work permit needed in the certified businessAs of 3 November 2026 · [9]
- SMART S proof of funds
- Deposit of THB 600,000 held for at least 3 monthsAs of 3 November 2026 · [8]
- Non-Immigrant O-A, aged 50 or over
- THB 800,000 deposit or THB 65,000 monthly income; 1-year stayAs of 3 November 2026 · [10]
- O-A health insurance
- At least USD 100,000 (THB 3,000,000)As of 3 November 2026 · [11]
- Non-Immigrant O-X, aged 50 or over
- 5 years per stay, 10 in total; THB 3,000,000, or THB 1,800,000 plus THB 1,200,000 income a yearNationals of Australia, Canada, Denmark, Finland, France, Germany, Italy, Japan, the Netherlands, Norway, Sweden, Switzerland, the United Kingdom and the United StatesAs of 3 November 2026 · [12]
- Non-Immigrant B
- 90 days, extendable up to 1 year; work only with a work permitAs of 3 November 2026 · [13]
- 90-day notification
- Every 90 days in Thailand, from 15 days before to 7 days after the due dateAs of 3 November 2026 · [5]
- Tax residence (Revenue Code, s. 41)
- 180 days or more in a calendar yearAs of 3 November 2026 · [15]
- Personal income tax on residents
- Progressive, 0% to 35%As of 3 November 2026 · [18]
Timeline
- 1Choose the routeMatch your profile to a route: the LTR for income, assets or skills, Thailand Privilege for a membership, the DTV for remote work or activities, O-A or O-X for retirement, a work permit for employment.
- 2Check thresholds and gather documentsCollect statements, insurance and certificates in English or Thai, and keep every threshold in place: the LTR's conditions apply for the whole validity of the visa.
- 3ApplyLTR applications start with the BOI's online system; most other visas go through the Thai e-Visa system or a Royal Thai Embassy; Thailand Privilege membership is applied for with the programme operator.
- 4Arrive and keep the reporting calendarAfter arrival, file the 90-day notification in person, through someone you authorise, by registered mail or online; LTR holders report once a year.
- 5Extend or renewO-A holders extend a year at a time at the Immigration Bureau, DTV holders can extend one stay by 180 days, and LTR holders renew after five years if they still meet the conditions.
Tax notes
- Tax residence depends on days in Thailand, not on the visa. Under section 41 of the Revenue Code, a person whose stays in Thailand add up to 180 days or more in a tax year is resident; the tax year is the calendar year. A non-resident pays Thai tax only on Thai-source income.
- Residents are taxed on foreign income when it is brought into Thailand. The Revenue Department's Order Por. 161/2566 of 15 September 2023, as amended by Order Por. 162/2566, applies this to foreign income earned from 1 January 2024: it is taxed in the year it is remitted, even if that is a later year. Foreign income earned before 2024 is not taxed when brought in later.
- The Revenue Department's guide for foreigners adds that tax paid abroad can be credited against the Thai tax on the same income where a double tax agreement allows it, up to the Thai tax due on that income.
- Personal income tax is progressive: the first THB 150,000 of net income is exempt and the top rate of 35% applies above THB 5,000,000. The return for a calendar year is filed by the end of March of the following year.
- The LTR visa adds its own tax privileges, among them a 17% rate for highly skilled professionals and an exemption for overseas income. How they apply to your income is a question for a Thai tax adviser; we do not give tax advice.
General information, not tax advice. Your position depends on your circumstances.
Banking fit
- Banks identify every customer and assess the risk; AMLO's guideline for banks names customers living outside Thailand as an example of a higher-risk profile.
- The Bank of Thailand's rules let residents keep foreign currency deposit accounts with authorised banks, and non-residents keep baht accounts (NRBA, NRBS) and foreign currency accounts.
- Where the account matters most, begin with our banking assessment: it weighs your whole situation, not the visa on its own.
Questions
What is the Thailand Long-Term Resident (LTR) visa?
A visa programme of the Board of Investment, granted for five years and renewed for five more if the conditions are still met. It has four categories, wealthy global citizens, wealthy pensioners, work-from-Thailand professionals and highly skilled professionals, each with income or asset thresholds, plus health insurance, Thai social security or a deposit.
Can I work in Thailand on the Thailand Privilege visa?
Not by default. The programme's own comparison with the LTR says the Privilege visa is for long-term stay, not employment, and brings no tax advantage. Work in Thailand needs a work permit, or a visa that comes with one, such as the LTR for those who qualify as professionals.
How long can I stay on the Destination Thailand Visa (DTV)?
The DTV is valid for five years with multiple entries, and each entry allows up to 180 days. The Immigration Bureau can extend a stay once by another 180 days; after that you leave Thailand and can re-enter on the same visa while it is valid.
What does a Thai retirement visa require?
For the O-A visa: age 50 or over, a deposit of THB 800,000 or monthly income of THB 65,000, health insurance of at least USD 100,000, a criminal record certificate and a medical certificate. The stay is one year and can be extended; work is prohibited. The O-X visa allows longer stays for nationals of 14 countries.
Do I have to report to immigration every 90 days?
Yes, if you stay in Thailand for more than 90 days in a row: you notify your address in person, through someone you authorise, by registered mail or online, from 15 days before to 7 days after the due date. LTR holders report once a year instead.
Does a Thai visa make me tax resident?
No. Tax residence depends on days: 180 days or more in a calendar year make you resident under section 41 of the Revenue Code, whatever your visa. Residents are taxed on foreign income earned from 2024 when they bring it into Thailand.
Thailand company formation for foreign founders
A Thai private limited company is registered with the Department of Business Development by at least two promoters and can be majority foreign-owned only within the limits of the Foreign Business Act. As of November 2026, a company with half or more foreign shares needs at least THB 2 million in capital, and corporate income tax is 20%.
Most foreign founders use a private limited company registered with the Department of Business Development (DBD). Two or more promoters sign the memorandum of association, shares have a par value of at least THB 5, and at least 25% of each share is paid before registration. The memorandum and the company can be registered on the same day.
The Foreign Business Act
The Foreign Business Act of 1999 treats a company registered in Thailand as foreign when foreigners hold half or more of its shares. Such a company may not operate the businesses in List One; List Two needs the Minister's permission with Cabinet approval, and List Three a licence from the DBD's Director-General with the approval of the Foreign Business Commission. Its minimum capital is at least THB 2 million, and at least THB 3 million for a business that needs permission under the lists.
The routes the law offers
| Route | Legal basis | What it gives |
|---|---|---|
| Thai majority, foreign shares under half | Foreign Business Act, s. 4 | Outside the Act; the DBD asks for bank evidence of each Thai shareholder's investment when foreigners hold under half or a foreigner signs for the company |
| BOI investment promotion | Foreign Business Act, s. 12 | A certificate from the DBD for a List Two or List Three activity, valid while the promotion lasts |
| Foreign Business Licence | Foreign Business Act, s. 8 and 17 | Permission for a List Three activity from the DBD's Director-General |
| Treaty | Foreign Business Act, s. 10 | Exemption on the terms of a treaty that binds Thailand; the BOI's 2026 guide names the Treaty of Amity for US investors |
Directors, staff and work permits
A foreign director who works in the company needs a visa and a work permit. The BOI's 2026 guide lists the usual conditions on the employer: THB 2 million of registered capital and four Thai employees for each work permit. After registration the company obtains its corporate tax ID from the Revenue Department within 60 days.
Redomiciled coordinates the formation with licensed Thai lawyers and accountants, who give the legal and tax advice.
Who it suits
Founders with a Thai market
You will sell to Thai customers or hire locally and need a Thai entity, a tax ID and, once turnover passes the threshold, VAT registration.
Investors in promoted activities
Your project can be promoted by the BOI, which lifts the Foreign Business Act's limits on a listed activity while the promotion lasts.
US investors
The BOI's 2026 guide names the Treaty of Amity as a route for US investors to hold more than 49%.
Residents building a base
You move to Thailand on a long-stay visa and want a company of your own; working in it needs a work permit unless your visa includes one.
Requirements
- Required
Two or more promoters
They sign the memorandum of association; the shares must be fully subscribed before the company is registered.
- Required
A reserved company name
Reserved online with the DBD before the memorandum is filed.
- Required
Paid-up share capital
At least 25% of each share's par value, paid before registration; a foreign company also meets the Foreign Business Act's minimum capital.
- Required
A check against the Foreign Business Act lists
Before the shareholding is fixed, confirm whether the activity is on List One, Two or Three and which route applies.
- Required
A licensed auditor
The yearly financial statements are audited by a licensed auditor before the shareholders approve them.
- Depends on your case
BOI promotion
Optional, for projects in promoted activities; it brings a certificate under the Foreign Business Act.
Documents
- Name reservationThe DBD's approval of the company name.
- Memorandum of associationSigned by the promoters, with the company's objectives, registered capital and shares.
- Minutes of the statutory meetingAdopting the articles, appointing the directors and calling for payment on the shares.
- Identity documentsCopies of the identity cards or passports of all promoters and directors.
- Evidence of Thai shareholders' fundsBank documents for each Thai shareholder when foreigners hold under half of the shares or a foreigner signs for the company.
- Licence or certificate for a listed activityThe Foreign Business Licence, or the certificate issued on BOI promotion or under a treaty.
- Legal form
- Private limited company, registered with the DBDAs of 3 November 2026 · [23]
- Promoters
- At least 2As of 3 November 2026 · [23]
- Par value and payment
- At least THB 5 per share; at least 25% paid before registrationAs of 3 November 2026 · [23]
- Company treated as foreign (Foreign Business Act, s. 4)
- Half or more of the shares held by foreignersAs of 3 November 2026 · [22]
- Minimum capital of a foreign company (s. 14)
- THB 2 million; THB 3 million for activities that need permissionAs of 3 November 2026 · [22]
- Restricted activities
- 3 lists: List One closed, Lists Two and Three only with permissionAs of 3 November 2026 · [22]
- Corporate tax return
- Within 150 days of the year-end, after a half-year prepaymentAs of 3 November 2026 · [20]
- Withholding tax on dividends
- 10%As of 3 November 2026 · [20]
- VAT registration threshold
- Turnover above THB 1.8 million a year; 7% standard rateAs of 3 November 2026 · [21]
- Audited financial statements
- To shareholders within 4 months of the year-end; to the DBD within 1 month of approvalAs of 3 November 2026 · [24]
- Work permit conditions on the employer
- THB 2 million of registered capital and 4 Thai employees per work permitAs of 3 November 2026 · [9]
- Corporate tax ID
- Within 60 days of registrationAs of 3 November 2026 · [9]
Timeline
- 1Check the activity against the Foreign Business ActDecide the shareholding and the route, Thai majority, BOI promotion, licence or treaty, before anything is filed.
- 2Reserve the nameOnline with the DBD; the BOI's guide notes that an approved name stays reserved for 30 days.
- 3File the memorandum and hold the statutory meetingThe meeting adopts the articles, appoints the directors and calls at least 25% of each share; all of it can happen on the day of registration.
- 4Register the companyThe directors file the registration with the DBD, with the documents for the shareholding.
- 5Tax ID, VAT and licencesObtain the corporate tax ID within 60 days, register for VAT within 30 days of passing THB 1.8 million of turnover, and apply for any licence or certificate the activity needs.
- 6Yearly cycleAudited accounts go to the shareholders within four months of the year-end and to the DBD within a month of approval; the corporate income tax return is due within 150 days of the year-end.
Tax notes
- Corporate income tax is 20% of net profit, with reduced rates for small companies as the Revenue Department defines them. The company files its return within 150 days of the end of its accounting period and pays half of the estimated year's tax within two months after the first six months.
- Dividends paid by a Thai company bear withholding tax at 10%.
- VAT is 7% on goods and services supplied in Thailand. A business must register before it starts trading or within 30 days of its turnover passing THB 1.8 million a year, and files a return every month by the 15th of the following month.
- The company's tax position and that of its directors are separate questions: a director who spends 180 days or more in Thailand in a calendar year becomes resident for personal income tax.
- We are not a law firm or a tax adviser; a licensed Thai accountant confirms the filings that apply to your company.
General information, not tax advice. Your position depends on your circumstances.
Banking fit
- A Thai company opens its account with its registration documents and the identities of its directors and beneficial owners; under AMLO's rules the bank identifies everyone who ultimately owns or controls the company.
- The Bank of Thailand's rules allow payments abroad for goods and services, interest, dividends, profits and royalties up to the amount owed.
- If banking is the main goal, start with our banking assessment.
Questions
Can a foreigner own 100% of a Thai company?
Yes, outside the Foreign Business Act's lists and with at least THB 2 million of capital. A listed activity needs a Foreign Business Licence, a BOI certificate or a treaty right; List One stays closed, and List Two requires Thais to hold at least 40% unless the Minister lowers this with Cabinet approval. A Thai lawyer should confirm the list.
How many shareholders does a Thai company need?
At least two promoters found a private limited company with the DBD and sign its memorandum of association. Where foreigners hold under half of the shares, or a foreigner signs for the company, the DBD asks for bank evidence of each Thai shareholder's investment.
What is the minimum capital for a Thai company?
The DBD's rules set a par value of at least THB 5 per share, with at least 25% paid before registration. A foreign company under the Foreign Business Act needs at least THB 2 million, or THB 3 million for an activity that needs permission, and the BOI's guide lists THB 2 million of registered capital per work permit.
When does a Thai company register for VAT?
A business liable to VAT registers before it starts trading, or within 30 days of its turnover passing THB 1.8 million a year. VAT is 7%, and returns are filed every month by the 15th of the following month.
What does a Thai company file every year?
Audited financial statements, approved by the shareholders within four months of the year-end and filed with the DBD within one month of approval; the corporate income tax return within 150 days of the year-end, after a half-year prepayment; and monthly VAT returns if it is registered.
What does BOI promotion change for a foreign-owned company?
Under section 12 of the Foreign Business Act, a company promoted by the BOI in a List Two or List Three activity receives a certificate from the DBD and is exempt from most of the Act while the promotion lasts. The BOI decides which projects it promotes.
Banking in our network
We do not publish institution names: the right partner depends on your profile, and each institution keeps its own view on who it will serve.
10+
Banking partners across Asia in our network
No partner institution in our network is based here; companies and residents here are introduced to partners in other jurisdictions.
- Thai banks open accounts under the customer due diligence rules of the Anti-Money Laundering Office (AMLO): before they decide, they identify you and anyone who ultimately owns or controls the account, and record what it is for.
- The Bank of Thailand's exchange control rules provide baht accounts for non-residents, one for general purposes (NRBA) and one for investment in securities (NRBS), and let non-residents hold foreign currency accounts. Whether a given bank opens one for you remains that bank's decision.
- Redomiciled has no Thai bank in its network. If banking is your main goal, the banking assessment looks at your whole profile and shows which institutions elsewhere may suit it.
What does a Thai bank check before it opens an account?
Banks follow the Ministerial Regulation on Customer Due Diligence of 2020, which AMLO explains in its guideline for banks. They identify and verify you, identify the beneficial owner, check names against the lists of designated persons, record the purpose of the relationship and set a risk level, looking at factors such as the product, the countries involved and the source of funds.
Can a non-resident open a bank account in Thailand?
The Bank of Thailand's exchange control rules allow it: non-residents may open baht accounts with authorised banks, an NRBA for general purposes such as trade, services and direct investment or an NRBS for securities, and may hold foreign currency accounts. AMLO's guideline names customers living outside Thailand as an example of higher risk, and each bank decides.
Which documents will a Thai bank ask a foreigner for?
AMLO's guideline expects a passport, or another government-issued identity document where there is none, checked face to face or electronically. For the beneficial owner, the bank records the full name, identification number, address or country of nationality and date of birth. Expect questions on your occupation and the source of your income as well.
What happens if the bank cannot complete its checks?
Its staff must be able to refuse the relationship. Where due diligence cannot be completed because of the customer, for example when the beneficial owner cannot be identified or the purpose of the account stays unclear, the 2020 regulation also requires the bank to report a suspicious transaction to AMLO.
Questions
When do I become tax resident in Thailand?
Under section 41 of the Revenue Code, when your stays in Thailand add up to 180 days or more in a tax year; the tax year is the calendar year. Your visa does not decide it, and becoming resident in Thailand does not by itself end your tax residence elsewhere.
Does Thailand tax foreign income?
For residents, yes, once it is brought in. Foreign income earned from 1 January 2024 in a year of residence is taxed when it is remitted to Thailand, even in a later year; income earned before 2024 is not. Tax paid abroad can be credited where a double tax agreement allows it.
Which visa lets me live in Thailand for the long term?
Several, each for a different profile: the Long-Term Resident (LTR) visa for wealthy individuals, pensioners, remote workers and skilled professionals; the Thailand Privilege visa, a membership programme; the Destination Thailand Visa for remote work and soft-power activities; the SMART S visa for startups; and the retirement visas O-A and O-X.
Can I work in Thailand on a long-stay visa?
Only on some. LTR holders who qualify as professionals receive a digital work permit, and the SMART S visa needs no work permit for the certified business. Otherwise employment needs a Non-Immigrant B visa and a work permit. The O-A visa prohibits work, and the Thailand Privilege visa gives no right to work by default.
Can Redomiciled open a Thai bank account for me?
No one can promise that: each Thai bank decides after its own due diligence. We help you prepare a consistent file, and the banking assessment shows which institutions in our network, none of them based in Thailand, fit your profile.
Sources
- 1.Board of Investment (BOI): Long-Term Resident (LTR) visa programme, categories, qualifications and privileges, retrieved 2026-11-03
- 2.Thailand Privilege Card Co., Ltd.: who we are (state enterprise, sole shareholder the Tourism Authority of Thailand), retrieved 2026-11-03
- 3.Thailand Privilege: visa membership tiers and their validity, retrieved 2026-11-03
- 4.Thailand Privilege: Thailand Privilege Card vs. Long-Term Resident (LTR) visa (work, tax, dependants), retrieved 2026-11-03
- 5.Thailand Privilege: rules and regulations, 90-day report for members, retrieved 2026-11-03
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