Weekly Column

Sunbelt Asia Weekly Column 2 January 2020

Sunbelt Asia Weekly Column

2 January 2020

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Concerned about the new excise tax for entertainment venues?

The latest excise tax has many in the food and beverage industry concerned and a little confused. Sunbelt Asia has been retained by some of the largest food and beverage clients in Thailand. We specialize in the excise tax and all related matters, if you are an entertainment venue with concerns regarding the implementation of the excise tax don’t hesitate to get in touch with our senior lawyers who specialize in this area. Please call (+66) 02-662-7004

Looking to start your own business and overwhelmed by the information?

There are quite a few options available to you including BOI, Limited Company and more. We can assist you in finding the right fit for your business ideas.

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Foreign tourist arrivals hit 39 million

Foreign tourist arrivals rose 5.92 percent year on year in November after a 12.51 percent rise in October according to the Ministry of Tourism and Sports. Chinese arrivals jumped 18.33 percent in November year-on-year, after October’s 27.81 percent jump, due in part to last year’s comparatively low figures. Tourists from other Asean members came second at 9.5 million, up from 9 million, a 4.7 percent rise year-on-year. A total of 3.36 million tourists in November spent 167 billion baht, up 2.98 percent from a year earlier. The 39 millionth tourist this year arrived in Thailand on the 28th, breaking the previous record. Arrivals are on track to reaching 140,000 passengers by the end of the year, pushing the total annual number to 39.6 to 39.8 million for 2019.

From all of us at Sunbelt Asia, we wish you a happy and prosperous New Year. We will be closed from Monday December 30 to January 1. Our offices will re-open Wednesday January 2nd..

Owners of short-term rentals will see new commercial tax rate

The Finance Ministry clarified that owners of a second home or condo for rent will see that home assessed as a second home for tax purposes and not as a commercial venture. If owners have more than one home, the second and subsequent residences are subject to a 0.02% tax for those with an appraisal price of up to 50 million baht while the first home is exempt from tax up to 50 million baht under the new land and building tax set to go into effect in the new year so long as that home is a long-term rental. However, operators of homestay and home-sharing premises will have a much higher commercial property tax than buy-to-let homeowners who pay residential rates as these are considered short-term rentals for commercial use. Additionally, the Treasury Department is delaying changing the land and building median price set by the state until 2021, saving many owners from having to pay higher tax for their property. Concerned about your tax rates in the coming year? Give our experts a call. Contact us at (+66) 02-662-7004

E-commerce to see double digit growth

While many traditional businesses have suffered this year e-commerce is expected to see double digit growth in 2019, while e-logistics is expected to jump 15 percent in value from 31 billion baht in 2018. Food delivery has also seen double digit growth, it is expected to generate 33-35 billion baht in revenue in 2019, up 14 percent from 2018. Thai consumers increasingly use apps and social media platforms for shopping and delivery and that is expected to boost e-commerce by 20 or even 30 percent in the coming year.

Thonglor nightclub with room to expand

Located in the top nightlife zone on trendy Thonglor, this nightclub has five floors, three of which have been fully updated with new plumbing, electrical bathrooms and more. The ground floor has approximately 30 square meters which leads into the first floor approximately 100sqm and a further 3 floors, 100sqm each. Floors 4-5 are around 120sqm each. The building also offers the potential of cleaning and designing the rooftop to add another zone and feel to the place. Total size with patio and rooftop is around at 600 square meters.

The first three floors are fully fitted out and decorated in a chic and upmarket style, the fourth and fifth floors have been gutted and can be fitted out as the new owner wishes, adding a great deal of space to the current location.
Fully staffed and licensed, the new owner will walk into a lease that has seven years left and a great location

ASKING PRICE: 12 million baht

Jobs app already approved by Apple Store and Google Play

?This is a great little money-making opportunity that requires very little work on the part of the buyer as the app has already been developed and approved by both the Apple Store and Google Play. Although the app was developed in Phuket, this jobs app for iPhone and Android is a great opportunity for anyone in Thailand.

The app allows companies to post jobs and then the job seekers will bid on the job. Commission is paid by the winning bidder but only once the job has been accepted by the job poster. This is also a great app for freelancers seeking new jobs.

The app is easy to use and monitored, additionally there is an automated punishment system to reduce safety concerns and for protection of those who do not fulfill their jobs as they should have.

ASKING PRICE: 1.6 million baht

Top soi 11 restaurant and bar

Located in the prime night life area of Bangkok on Soi 11, this beautiful restaurant and bar has done very well, earning a good reputation for quality food. The premises is fully fitted out with all top quality equipment and the large space, which can hold more than 200 seats, also has a VIP room. There are 28 full time employees including a General Manager with a total monthly payroll of 750,000 baht. The fully licensed company will be sold along with all licenses and the lease deposit of 1 million baht. Sales last year reached 60 million baht with a profit of 7 million. The company has registered capital of 6 million baht.

The owner is looking to retire and move to the beach so now is the time to take over this turnkey popular business.

ASKING PRICE: 34 million baht

Web and mobile application business

This long-running company operates web and mobile application development business with portfolio of large corporations and public companies. This is a great opportunity to enter a well-established tech business.

There are 7 full time dedicated and experienced employees with a total monthly payroll of 300,000 Baht. Business is located closed in MRT station. The owner is seeking new opportunities and so seeks a sale of this well-known business.

ASKING PRICE: 5 million Baht

Unique retail business with 39 branches

With a unique and fun concept, this retail store has expanded rapidly and now has 39 branches around Thailand and in Cambodia. The stores are a destination and always have something new and fun to explore. Offering low priced fashion products and unique gifts that resonate with tourists and residents, the owners of this business have found that their success has outstripped their ability to manage the business.

The business has 39 locations of which one is the headquarters and warehouse in Min Buri, and a company owned store in a popular tourist district as well as one licensed store. Total rent and services on these locations is around 5 million baht a month. There are 188 staff with a total monthly payroll of 3.17 million baht. Annual sales reach 344 million baht giving a profit of 38 million baht. Inventory valued at 100 million baht is included in the sale.

The company is debt-free would offer the new owner a good income but this is ideal for someone seeking to grow the business through franchising and owner-operated stores as the retail concept has proven to be quite popular.

NEW ASKING PRICE:150 Million baht

Chiang Mai resort with room to grow – includes 21 rai of land

Ideal for those who wish to create something truly stunning is this, as yet, unused business opportunity is set on 21 rai in Chiang Mai with five western style bungalows and two teak houses that include a large multipurpose room and one a half baths. There is also an outside bathroom for campers. Additionally there is a kitchen, office and a covered car park, the manager has a bungalow with kitchen and bathroom.

There are 3 patio seating areas, a volleyball court, badminton court, a pond and two wells. The property has already been graded for future construction making it ideal for someone seeking a large property to expand.

The owners have been developing it but not run a business as yet so while it is currently turnkey for a small resort it could easily be grown.

ASKING PRICE: 43 million baht includes land

Kanchanaburi resort near the River Khwai

This lovely resort is fully licensed and within walking distance of the famed “River Khwai” and 1.2 km from the famed Bridge, a major tourist destination not only for visitors but for local Thais as well. With a gorgeous garden and pool there are 15 bungalows, 3 family bungalows, 5 deluxe bungalows and 6 standard bungalows. Every bungalow has a private bathroom, mini bar, wardrobe, safe box, tea/coffee making set, free WiFi and comes fully air-conditioned. The standard and deluxe bungalows overlook the garden and the family bungalows are behind the swimming pool. The resort also books tours, and offers motorbike and bicycle rentals. There is a charming restaurant as well as a large 2 bed room house complete with full western kitchen.

The resort is one of the top-ranking in Trip Advisor and has an excellent feedback score on Booking.com. The resort occupancy this year is at 70% and has bookings through to February next year. With the right PR and marketing this resort could see much higher occupancy due to its high ratings. There are 9 full time employees and total monthly wages of 100,000 baht. The hotel has a lease contract to 2020, and pays rent of 240,000 baht every 6 months. Annual sales reach 5-6 million with profits of 1.5 to 3 million. The owner is retiring and believes the business could grow with a dynamic new owner.

NEW ASKING PRICE: 3.5 million baht

Samui sports bar on busy Lamai Beach Road

Lamai’s number one sports bar is the go-to venue for excellent food, drink and a huge variety of sports. With a variety of great pub food like pies, steaks and burgers, Thai specialties and more, this sports bar is located on Lamai beach road and is open from 8am to 1am daily.

The restaurant offers plenty of seating and well-trained friendly staff to make sure you transition into a smooth running business. This is a popular venue with great word of mouth and repeat business both tourist and local.

With a top location and great reputation this is a turnkey business for someone looking to relocate to paradise.

ASKING PRICE: 8 million baht


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