Sunbelt Asia Weekly Column
8 June 2018
Marrying a Thai man
My dual nationality (Dutch / Thai) son is returning to live in Thailand this summer after finishing his studies in Europe. He will be joined by his English fiance whom he intends to marry at a later stage. As his fiancée, what type of visa can she get? Secondly, after they have married, what requirements are there for her to obtain a work permit as they intend to start their own company? Over the years I have heard numerous times that a farang woman married to a Thai man is treated very differently than a farang man married to a Thai woman. However, I have never heard of a legal basis for this. Any advice is most welcome.
Sunbelt Asia Legal Advisors responds:
There is no fiancee visa, she would need to come in on a tourist visa and then once married apply for a non-O visa based on marriage to a Thai national.
In Thailands culture the man is considered as the head of the family and your son’s wife would be receiving her one year extension on the non-O based on marriage to a Thai husband. He must apply for her; they are both required to come for the application and interviews. While he does not need to show money in the bank or an income the officer may ask to see that he has paid his Thai income taxes and he may need a receipt from the tax office showing these taxes are paid. They will need to include photos of them together, their wedding, and in their home together. They will also need a letter from the village headman stating that they live together for the one year visa extension application as well as the marriage license and registration from the District Office where they married.
If she plans on working in her husbands business in an active role and helping to manage the business and its finances she will need to apply for a work permit. She can do this on the non-O extension based on marriage to a Thai husband. The husband will need to set up a Thai Limited Company, of which his wife can be a partner along with another person so long as the Thai holds the majority of shares. It is important to note that if the foreign employee is the spouse of a Thai person only 1 million baht is necessary for registered capital.
Sunbelt Asia Legal Advisors has extensive experience in obtaining one year extensions and in forming companies and obtaining work permits and would be happy to assist your son and daughter-in-law in the correct procedures.
The Securities and Exchange Commission released new regulations in line with the Royal Decree issued last month for cryptocurrencies. All participants, including ICO issuers, digital exchanges, brokers and dealers involved with digital asset transactions, are required to register with the SEC and must also receive permission from the Ministry of Finance; the deadline for license applications is August 14. Issuers must make clear what kinds of tokens are being issued as well as investment information before they can obtain permission. The fee for digital assets dealers is 2 million baht and brokerage firms 2.5 million baht, in addition there will be an annual fee that will be a small percentage of the trading volume. Digital exchanges with a centralized exchange will need 50 million baht in registered capital while a decentralized exchange will need 10 million baht. Brokers for centralized exchanges will need 25 million baht in capital and for decentralized exchanges 5 million baht. The SEC will allow seven cryptocurrencies, used for initial coin offerings (ICOs), to be traded as trading pairs; bitcoin, ethereum, bitcoin cash, ethereum classic, litecoin, ripple, and stellar. Each initial coin offering can be offered to institutional and ultra-high-net-worth investors at an unlimited investment amount, but investment is capped at 300,000 baht per person for retail investors per person and per ICO, or no more than 70 percent of the total value of tokens offered.
Low cost carrier NokScoot, a joint venture between Nok Air and Singapore-based Scoot reported a 32.9 percent jump in revenues with profits reaching 37.1 million baht in the first quarter, up nearly 10 million baht from the same period last year. The company, which flies out of Don Mueang, has launched a new flight to Narita Airport in Tokyo as well as serving Dalian, Nanjing, Qingdao, Shenyang, Tianjin and Xian in China, and Taipei, Taiwan. The airline, which expects to see passenger numbers jump 76 percent in 2018, is planning to debut new routes to Japan, South Korea and India later this year.
The National Broadcasting and Telecommunications Commission (NBTC) has been ordered to begin implementation of 5G by 2020 and will include implementing the NBTC’s spectrum allocation roadmap for a variety of spectrum ranges as well as developing the infrastructure. AIS has only set aside 25 billion baht in 2018 for network capacity expansion after spending 120 billion baht from 2015 2017, but believes once 5G is in place will spend heavily to retain its competitive edge. Currently Thailand has 121 million mobile phone users with 40 million of those using their phones to access the internet. The value of e-commerce in Thailand hit 2.55 trillion baht this year and is expected to continue to see strong growth.
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Please feel free to contact us if you are in Thailand on (+66) 02-662-7004 to discuss any of these listings.
Popular retail store chain with branches around Thailand and in Cambodia
This large retail store business has a unique and fun concept and has expanded rapidly with 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 store have found that their success has outstripped their ability to manage the business. The company sources their products direct from the factory both locally and around the region. With an ever-changing trendy offering of fun products, the company has created a popular and well-known brand image.
The business has 39 locations of which one is the headquarters and warehouse in Minburi, 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.
ASKING PRICE: 180 Million baht – New Asking Price!
Large Italian restaurant in new building in top Sukhumvit location
This large Italian restaurant is located in newly constructed building in a busy area of Sukhumvit road in an area surrounded by 5-star hotels and high end condominiums and is well-reviewed on Trip Advisor. The new owner can change the focus of the restaurant if they desire as the location is prime.
The 300 sqm restaurant has 7 years left on the lease and covers 2 floors with a balcony. The owner invested 20 million in the business for kitchen equipment, decor, software and security systems with a CCTV camera as well. Rent on this space is 372,500 baht a month and the building has parking for 6 cars onsite and 10 spaces in a nearby building with valet parking. Rent for the 10 spaces off site is 25,000 baht per month. There are 20 full-time staff with a total monthly payroll of 350,000 baht. A Thai company with 6 million baht in registered capital allowing for 3 work permits is included in the sale as is the registered trademark. Sales have averaged 1.4 – 1.5 million baht a month.
The owner is selling as he has another restaurant that takes up all his time and has no time to manage this one.
ASKING PRICE: 12 million baht – New Asking Price!
Silom area hostel and cafe
In the popular Bangrak neighbourhood in Silom, this hostel has 90 beds in 20 rooms with an in-house café. Potential for this business is quite high but the owner is not able to manage on site, an active manager on site could easily grow this business as this is a popular tourist area and the hostel concept remains popular with travellers. Payroll is currently 100,000 baht a month and rent on the location is 151,750 baht a month with a 9 year lease.
All assets are included in the sale including furniture, CCTT, website and online booking system.
ASKING PRICE: 9.5 million baht
Silom fitness center with established clientele base
This popular fitness center is located in the busy Silom area, not far from the MRT and BTS stations. This well-equipped center offers the latest in Pilates, yoga, yoga fly, Zumba dance, aerial hoops and piloxing; all the latest and most popular trends in yoga and fitness.
The business was established in 2015 and has an active social media presence with channels on Facebook, Instagram and others. The center has a large 200sqm space with good views over the city. Rent on this prime location is 87,500 baht a month.There are 20-25 part time teachers at the center The fitness center currently has more than 1,000 members of which 295 are active The center has an up to date booking system and profile database of the members well as a mobile phone app.
Sales last year 5,800,000 baht. The sale includes all fixtures, fittings and equipment as well as a company with enough registered capital for one work permit.
Although the current owner has owned it since January 2017 they plan on moving overseas
The current owner has plan to move to abroad with the family. The business could easily increase sales and profit with an owner with more time to dedicate to the business.
ASKING PRICE: 2.75 million baht
American franchise in busy mall in Greater Metro area
This popular American franchise is located in a busy mall in a popular Western suburb of Bangkok. This American franchise is well-known but the owner is forced to sell as he has no time to manage and grow the business. A new owner could easily grow sales and profits with this popular franchise.
The 18 sqm restaurant is set in the food court of a busy mall and has a rent of 17 percent of gross profit. The business sold over 4.1 million baht in its first year and could easily grow with a dedicated owner/manager. There are three full time employees with a monthly payroll of 29,300 baht. The business has made a profit of around 20,000 baht a month.
The franchise fee and deposit with the suppliers is not included in the sale price.
ASKING PRICE: 2.5 million baht
Fully licensed English school
This well-known fully licensed English school is located in Samut Sakhon, in the greater metropolitan Bangkok provinces. With a top curriculum, fully equipped school and a high enrollment of students on an annual fee basis, the school is quite successful and a leader in the area with a waiting list for students wishing to enroll. The school has an active presence on social media that has helped to promote its brand, communicate with prospective clients and public relations.
Located in a 160sqm building, there is a reception area, two large classrooms, an office, a library, a back kitchen, an outside kitchen and yard as well a bathroom on each floor. The building has ample parking in front as well as a car park on the side. Rent on the premises is 15,500 baht a month.
The school has experienced consistent growth year to year with a profit of 1,065,801 baht in its first year. Sales last year reached 2,660,766 baht with a profit 2,160,964 baht. There is one full time and one part time employee with total wages at 12.620 baht a month. There is a detailed outline available for potential buyers once a standard confidentiality agreement has been completed.
The owner is moving overseas and so is selling the business
ASKING PRICE: 6.5 million baht
Top-rated dive school and luxury boat tours in Samui
Located in one of Asia’s largest marinas with full facilities for yachts and boats in Chonburi, this business provides marine services supported and backed by the worldwide leader in sail making. Offering standing sail storage, canvas and trimming work, service and sail repair as well as sales of brand name sails, this business caters to a popular and growing market in Asia.
The business has a great potential for growth with a well-trained staff and easy operating system. The business has protected product lines and established accounts. The loyal clientele create a lot of sales and referrals. This is a great opportunity for someone who loves the sailing lifestyle and can make money out of it.
The business has 108 sqm upstairs sail loft for inventory, canvas work, and retail sales. Merchandising and marketing would boost this company further. The business has been operating for 6 years and there are four full time employees. The company has no real competition at this quality level. The owner is looking to sell as he is ready to “sail away”.
ASKING PRICE: 3.9 million baht
Phang Nga resort villas and land
This is your chance to take over a growing business in the popular tourist destination of Phang Nga on the Andaman coast. With the expansion of the airport in Phuket more tourists are expected to be interested in nearby less touristic destinations. This resort complex is set on 44 rai of land, of which only 3 rai have seen development, making this a tremendous opportunity to grow this business.
Currently there are three buildings on the property but the opportunities for villas, hotels commercial offices or condominiums is available. The business offers accommodation and a restaurant along with adventure activities, a popular tourist activity. Hosting events such as conventions and weddings has been a major source of income along with leisure tourists.
There are 40 full time and 10 part time employees with a monthly payroll of 500,000 baht. The property includes 44 rai of chanote land not far from the airport. Annual sales have reached 20 million since its inception in 2015 and profit reached 3 million per year.
The owner wishes to retire and so is seeking to sell this development with great potential.
ASKING PRICE: 375 million baht