I intend to buy a nice condo in Jomtien for 4 – 6 months’ annual stay. As I am 63 years old I am considering buying the condo in the name of my daughter to save the hassle with my will, inheritance tax etc.
1) Does it make a difference if she uses her Vietnamese passport – which I prefer – instead of the German one?
2) To get the TorTor3 she must open account in her name or we can use money – of course legally transferred into Thailand – from my account in Bangkok? We have the same family name.
Sunbelt Asia Legal Advisors responds:
There is no difference in using a German passport or Vietnamese passport at this point, you can pay for the condo and yes you can use to the money from your account in Bangkok. The bank will issue a Tor Tor 3 certifying that the money will be used for purchasing the condo. However, please be aware that if your daughter is a minor you will not be able to sell the condo without a court order. Sunbelt Asia Legal Advisors can assist you with the condo purchase agreement and ensure that the contract addresses your needs and those of your daughter. https://www.sunbeltasia.com/condominium-purchase
Thailand jumped 20 ranks to reach 26th out of 190 countries in the World Bank's latest report on Ease of Doing Business in 2018, up from number 46 in 2017. The country's score was based on key improvements made by the government in the past year. Those included business reforms that enable entrepreneurs to start a business in 4.5 days, down from the previous 27.5 days. starting a business in Thailand used to take 27.5 days. Other reforms include the elimination of the requirement for a company seal; previously every certificate of shares had to have both a director's signature and the company seal. The government also Thailand repealed the requirement to obtain approval of the company's work regulations from the Labour Department, previously a company with 10 employees or more were required to submit their work regulations for approval, now they are checked during regular labor inspections. Other improvements were made in getting electricity, getting credit, protection of minor investors, tax payment and enforcing contracts. Thailand is third in ASEAN, Singapore ranked 2nd overall and Malaysia 24th. Other ASEAN countries that saw improvement include Brunei at 56 (up 16), Vietnam at 68th (up 14) and Indonesia at 72nd (up 19). The Philippines dropped 14 to 113th. Cambodia dropped 4 to 135th, Laos dropped 2 to 141st, and Myanmar dropped 14 to 171st. Thailand has climbed steadily up the rankings for the past three years.
Thai AirAsia plans on expanding routes to Phuket, adding direct Phuket - Khon Kaen flights in December and Phuket - Macau flights in January. The airline currently operates 11 routes out of Phuket. The flights to Khon Kaen will operate four times a week while the Macau flights will be daily. VietJet Air is adding routes with flights linking Chiang Mai and Phuket to Ho Chi Minh City starting in December. NokScoot has just appointed a new CEO and plans on new routes linking Bangkok to Xian this month, followed by India, Japan, and South Korea later. Nok Air launched its first Mae Sot - Yangon flight last month and will operate 5 times a week, if the route proves popular the airline will consider adding flights in the future.
International arrivals to Thailand rose during the period from January 1 to October 29 according to the Deputy Prime Minister to a total of 28.64 million, generating revenues of 1.45 trillion baht. While figures for the last few days of October were still being compiled at the time of the report by the Deputy Prime Minister, in October alone the number of visitors increased 20.17 percent contributing 129.8 billion baht in revenues. The Ministry of Tourism and Sports is organizing 183 tourist events from November this year to September 2018 for the Amazing Thailand Tourism Year 2018.
Starting October 1 we have two types of serviced offices available at a special promotional offer
Office with space for two staff at 9,500 baht a month
Office with space for three staff at 11,000 baht a month
Happy anniversary from all of us at Sunbelt Asia!!
A "Thank you" gift for our clients new and old!
Sunbelt Asia has been offering our excellent service to our clients for 15 years! As our 15th anniversary gift we would like to offer our professional services on retirement and marriage visa extensions at the very special reduced rate of 7,500 baht as a thank you to our clients new and old for their support over the years.
Sunbelt Asia Legal Advisors can handle all your legal and business needs; from visas to work permits, prenuptial agreements to divorces, condo purchases and wills.
Be sure and contact our English speaking legal advisors for all your legal needs
We at Sunbelt Asia see many of our clients regularly ask us legal questions regarding living and running a business in Thailand. To help out we have set up a FREE Expert Answers for Your Questions in Thailand Facebook page; Sunbelt Asia Facebook Expert Advice Page
Restaurant on ground floor of Asoke area hotel
Just off Asoke Montri Road and near Terminal 21, Health Land and many office buildings and hotels this restaurant is on the ground floor of a hotel and has a booming lunch trade and is very popular with the locals in the area as well as tourists.
The restaurant can seat 85 people comfortably and a classically decorated private ventilated cigar room or VIP room. There are 7 full time staff with excellent team work, and food and beverage contracts with the hotel in the same building or provide breakfast service and room service offering a guaranteed income every month.
There is a cool room which stores wine and beer kegs, new kitchen equipment including charcoal grill, wok stove, oven, deep fryers, cooker, refrigerators and freezers included in the sale price. Rent on the 280 sqm space runs 155,000 a month with no key money. The lease runs until 2022 with a fixed rate. All construction maintenance is supplied and paid for by the hotel above.The website, email, Instagram, Facebook page (15k followers) are all included in the sale.
Total income is around 400,000 - 500,000 baht a month but can go higher with an owner with more time to spare for the business. The owner doesn't have time to manage the business and so is looking to sell the business.
This online health food store is one of the most well-known in Thailand and has earned a good reputation for providing high quality superfoods, and raw and organic foods and products with delivery around the country and worldwide. The website is quite extensive and has a great modern design with built in check out system and secure payment.
Inventory valued at 1 million baht is not included in the sale. This business has huge potential growth as the health food industry takes off in Thailand. The new owners can run the business from their current location with no need to relocate since it all takes place online. The company has been in business for four years and the current owners expanded it and updated the website after taking ownership one and a half years ago.
New restaurant in community mall in rapidly growing neighborhood
This brand new restaurant is only 9 months old but the owner is forced to sell as other business interests take up all their time - this is a great deal for someone looking to open a new restaurant in a new location. The restaurant is set in a new shopping mall and has a large outdoor terrace as well as 150 sqm inside.
The area is building up quickly with eight condo buildings nearby, a new international school going in soon and plans for a new dermatological hospital.
The terrace has been underutilized and with a good bartender and promotions the new owner could easily boost sales by 30 percent. Sales in the first nine months were 440,000 baht a month. The rent on this large space is 134,000 baht a month and the new tenant will be granted the first three months rent free and the next six months after that at 50 percent off. There are currently nine staff with a monthly payroll of 150,000 baht.
The owner invested 6.8 million baht in building this space but is selling the entire thing at only 3.5 million baht in what is essentially just an assets sale. This is almost half of the investment as the owner is keen to sell quickly.
ASKING PRICE: 3.5 million baht in an asset & location sale
Siam Square dental clinic seeking tenant to share space
An existing dental clinic is seeking a tenant to share space on this amazing Siam Square location. Siam Square is one of the top locations in Bangkok and this is an ideal location for a beauty clinic to open and share the common area and consultation room with the dental clinic that is using a part of the premises. The new tenant would share the rental fee with the dental clinic. Rent on the space in this really amazing location is 126,000 baht a month for the new tenant. A deposit of 3 months and one month in advance would be necessary.
This popular craft beer bar was established in 2015 and has earned many good reviews and press coverage for its selection and cool atmosphere. Located in the Sathorn area, the bar is surrounded by condos and offices in a busy expat neighborhood.
The 70 sqm bar seats 50 with a monthly rent of 30,000 baht on a 3 year lease. There are three full time staff and one part -time with a total monthly payroll of 32,000 baht. The business is open 6 days a week from 5 p.m. to 2 a.m. and last year earned a net profit of 245,000 baht on 1.9 million in sales.
The owner has another business that takes up his time and so is looking to sell this one.
Software company seeks investors for expansion plans
This leading specialist software provider is seeking investors to expand the business. Providing logistics and supply chain businesses with key software in Thailand, India, Malaysia and Indonesia for the past 12 years, the company is looking to expand further into Thailand and a total of eight countries and is seeking a committed investor to fund the centralized team that will manage the expansion The company already has joint venture partners in every country show share 49% - 50% in those countries. By the end of 2017 the company should be operation in 8 - 10 countries.
They are seeking a 49% investor for 122.5 million baht
ASKING PRICE: 122.5 million baht for 49% shares
This charming guesthouse restaurant/bar is located in the heart of the old city in Chiang Mai, walking distance from all major old city attractions including the Sunday Walking Street Market and the many beautiful temples found in the old city. Chiang Mai continues to see tourism grow and this guesthouse has taken advantage of that growth. The guesthouse has contracts with all the major booking agencies and has earned five star reviews on Trip Advisor and Airbnb for its friendly staff, comfortable rooms, charming décor and central location.
The business was established in 2011 and has 560 sqm over four floors. Land with a chanote title is included in the sale, a rarity in this location. Each room is a large suite type room with minibar, en-suite, air conditioning and free WiFi throughout.
The business has six full time staff with a total monthly payroll of 60,000 baht. The guesthouse and restaurant saw total sales reach 4 million baht in 2016 with a net profit of 2.7 million baht.
The owners are relocating and so are selling the business, the building and the land.
This modern hotel is very close to Walking Street in Pattaya and has a high occupancy rate and good reviews from guests. The hotel is almost always full and has attracted a strong Middle Eastern clientele.
There is a total of 18 rooms in the hotel, and there are a variety of rooms, all well equipped and roomy. The hotel also has a coffee shop for guests and outside customers.
The hotel has a good income each month, taking in 300,000 baht every month regularly. There are 4 staff with a total monthly payroll of 50,000 baht.
The owner is offering two options; lease the operation with key money of 3.5 million for 3+3 years and rent 100,000 baht per month or purchase the property for 25 million baht.
ASKING PRICE: 25 million baht or
100,000 baht a month plus 3.5 million key money
Interested in joining the most successful and popular Mexican restaurant franchise in Thailand? Sunrise Tacos is seeking qualified franchisees to join us in our commitment to quality and healthy, delicious food. Are you experienced in hospitality or business management but want to strike out on your own? Sunrise Tacos is seeking franchisees fully committed to the Sunrise Tacos way; with a hands on approach to running the business and experience in hospitality or business management. The leadership at Sunrise Tacos prides itself on maintaining a close and personal relationship with each of our franchisees and looks at franchising as a long-term business partnership. We are committed to our franchise partners and helping them grow.
With the opening of the ASEAN Economic Community at the end of this year we at Sunrise Tacos see the potential for growth in the region. If you want to be a part of that potential let us know! We already have a branch in Phnom Penh and have added more around Thailand, including our new franchise in Chiang Mai, and are seeking committed, enthusiastic business minded people to join us. Contact [email protected] for more information.