Sunbelt Asia Weekly Column
11 May 2018
Selling candid postcards
My Thai wife would like to make some of her photos in to postcards to sell. Does she need a signed release from people in the pictures or from property owners? Some photos are quite funny but might be embarrassing to the people in the photo. Some photos show alcohol and smoking, but no nudity.
Sunbelt Asia Legal Advisors responds:
If the pictures were taken in a public area, the rights over the photo would belong to the photographer, but the content of the photo must also be taken into consideration. Even if you have taken these picture in a public area but if the photo is embarrassing to the person who was photographed they may be offended and could file a lawsuit against the photographer. It is best to have the subject sign a release form as well as the owner of the private property where photos were taken.
Visa on a cancelled work permit
I have been working for a large Thai firm and recently accepted redundancy and a financial settlement. My work permit and visa are valid until the end of this year. Under the terms of the settlement, my termination date is effective April 1st. What are my visa options after then? Does my visa get automatically cancelled or is it possible to ask the company to retain the visa even though I am out of contract?
Sunbelt Asia Legal Advisors responds:
Once the work permit is cancelled so is the non-B connected to the work permit. After your work permit is cancelled you can either leave the country immediately and get a new visa or apply for a seven day extension at Immigration.
After that you have several options. Sunbelt Asia Legal Advisors offers a sponsored non-B visa for those seeking real investment opportunities in Thailand please feel free to contact us should you need more information. Alternatively, you can apply for an education visa and study Thai or a tourist visa valid for two months. All new visas must be applied for outside the country.
The Board of Investment announced that applications for investment support rose in number and value in the first quarter of the year to a total of 366 projects, a 27 percent rise year on year, and a combined value tripling to over 200 billion baht. Sixty-six of the approved projects are in the Eastern Economic Corridor and have a combined value of 160 billion baht; 81 percent of the total budget of all applications. The BOI expects the value of all projects to reach their target of 720 billion baht in the third quarter.
The BOI changed its investment support for projects in science and technology to include tax incentives for operations specifically in the EEC. The BOI is also offering incentives such as an 8-year tax exemption for income generated from product distribution services to other countries in a bid to boost Thailand as an e-commerce and e-logistics hub for the region in a new BOI promotion category for the EEC. Investors will be required to invest at least 1 billion baht and hire at least 20% Thai staff working in artificial intelligence, smart warehouses, data centers, data science, data analytics and digital transactions. They will also need to provide training on big data and data analytics and conduct R&D for educational institutes in Thailand. Investors in the EEC Digital and Innovation will be eligible for tax breaks for 13 years, up from the current 10 years. The Board also approved an 8 year tax exemption for smart city development to facilitate investment in transport projects, education, safety, the ease of doing business, state services, the energy sector and the environment.
The BOI also extended promotion privileges for the ten Special Economic Zones for a further two years; the ten SEZs are Tak, Trat, Mukdahan, Sakaeo, Songkhla, Chiang Rai, Nong Khai, Nakhon Phanom, Kanchanaburi, and Narathiwat.
CIMB Bank Thai forecast a weaker baht this quarter due to foreign capital outflows after the United States hiked policy rates. CMBT predicts the baht will reach 32.50 against the dollar from the current 31.90. The baht is expected to move between 31.5 to 32.5 until the fourth quarter when further weakening is expected. The US Federal Reserve is expected to continue tightening monetary policy this year with two more hikes in the policy rate after raising the rate twice already.
The Director of the Department of Intellectual Property (DIP) urged business owners to register for intellectual property protection including copyrights, patents, and trademarks to ensure legal protection for their business as e-commerce and online shopping booms. He warned online resellers to not sell or provide downloads of copyright-infringing content and to trace back the origin of products. Those holding copyrights to products and services that have been infringed online should collect evidence and file a report with the police for legal prosecution.
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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.
Villas and land prime for resort development in Cha-am
Set in the beautiful district of Cha-Am and just a short drive from the beach, this business offers a unique opportunity for a buyer interested in getting into the resort and development business in a tropical paradise and owning 25 rai of chanote title land as well. There are 9 beautifully furnished villas, each offering two rooms for rent as resort style accommodation. The resort can cater for up to 40 people at a time. The 9 villas offer beautiful views of the mountains, lake and rice paddies nearby. With such a large area, there is plenty of room to grow this business, either with more resort rooms or more villas. The resort has a large pool set in beautifully landscaped gardens and a lovely lake.
There are 15 employees with a total monthly payroll of 260,000 baht. Sales have grown continuously in the first four years of business as the place becomes more well-known, reaching 24 million baht in 2017 with a gross profit in excess of 10 million baht.
Twenty five rai of freehold land is included in the sale, along with a 240sqm meter clubhouse, dining and drinking area with 40 covers, and 14 hardwood salas, as well as staff quarters for 4 people.
The owner is looking to sell due to personal reasons
ASKING PRICE: 100 million negotiable
BOI tech business allows for 100% foreign ownership
The BOI promoted business allows for 100 percent foreign ownership and falls within the guidelines and goals of the government’s bid to progress the economy to higher tech. This business provides cloud services to companies in Thailand and currently has 3 active partnerships and active reseller agreements: Microsoft, Sophos and Acronis, offering managed cloud services and cloud powered IT solutions. The company offers 24/7 management of cloud services and offers services such as Windows and Linux Cloud servers, Cloud back up, website and app hosting and Microsoft Azure. As the company enjoys BOI incentives, profit and dividends are not taxed so it can be beneficial to a local investor to change to local ownership.
In Thailand the spending on public cloud services in 2017 was estimated at 7.73 billion baht according to global research firm IDC. Many companies are moving to the cloud and the Bank of Thailand recently announced that the financial sector can offer financial services on the cloud. Research firm IDC predicts a further growth of the Cloud Services market by 25% yearly on average.
The company has a dedicated team of well-trained IT professionals with certified and senior engineers offering technical support and the company also has an online lead capturing and sales strategy for selling recurring packages. The company conservatively predicts total net profit over 3 years to reach 100 million baht.
The owner has more than 10 years of experience in IT, Cloud, Hosting and Online Marketing. An extensive knowledge and experience that can be transferred to a partner or new owner.
The owner is interested in two options; a joint venture in which the partner takes shares in the Thai company and the owner stays on as the General Manager or a full takeover with 100 percent ownership by the buyer.
ASKING PRICE: 50 million baht
Healthy food restaurant in popular community mall
This healthy Thai – Western fusion food restaurant offers delicious organic food in a popular Sukhumvit community mall. The restaurant has earned good reviews on Trip Advisor for its healthy menus and a loyal repeat business. With an industrial chic restaurant and in a popular community mall that hosts many weekend events and is a big draw, the rent on the 97 sqm space is 122,220 baht.
The business has 8 full-time employees with monthly wages of 140,000 baht. Sales have reached 7.2 million baht with a net profit of 700,000 baht. The owner invested 4.5 million baht in fitting up the business but is moving to another province so has set a competitive price to sell it quickly.
ASKING PRICE: 3.9 million baht
Furniture factory in Bangkok includes land
This factory makes massage tables and other furniture in Bangkok and sells their furniture to hotels, resorts, and spas overseas and in Thailand. In business since 2000 the company has built up a good reputation for quality items and a good client list.
The business has 11 full time and 3 part time staff with a total monthly payroll of 145,000 baht. Sales are around 8-10 million baht a year with a profit of around 40 percent. The business owns the land which is included in the sale. The 300 sqw property holds the factory and a building with a total of 560 sqm. The price of land and rents in Bangkok continue to so this is a great opportunity to own your own property.
The owner is retiring and so wishes to sell the business as well as the land and property.
ASKING PRICE: 35 million baht
Unique concept restaurant in top Sukhumvit location
In a great Sukhumvit location, this restaurant offers an unusual setting for diners; a true chef’s table with diners who come for the excellent food and unique atmosphere. The restaurant has earned rave reviews for its top notch menus and has been covered by several Thai foodie magazines. Diners are required to make reservations in advance for this exclusive venue.
The rent on this 60 sqm space is only 30,000 baht a month, a steal for this part of Bangkok. The business has a parking lot as well, a rarity in this town, sharing the ten-car car park with a coffee shop next door.
There are three employees with wages of 59,000 baht and month and sales reach 800,000-1,000,000 baht per month with a monthly net profit of 400,000 baht.
The owner is looking to do a bigger project and so is looking to sell.
ASKING PRICE: 1.8 million baht
Well-known events website and brand
A well-known website and brand is up for sale offering the aspiring event organizer a great entry into the networking business. The sale includes the website, as well as all social media sites, meetups, and a full mailing list and database of attendees, potential events and more. The brand is quite well known in Bangkok and around Thailand for event organization.
Also included in the sale are several event brands and logos along with partnerships with events in Singapore and around Thailand.
The owners are also providing three months of assistance for the buyer in event organizing, strategy, marketing promotion for the first three months of business.
ASKING PRICE: 5 million baht / US$ 150,000
Large Asoke area restaurant
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 is 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.
ASKING PRICE: 3,600,000 million baht
Design studio seeks investors
A top-quality design studio is seeking investors to help grow the company. Specializing in the design of lighting, acoustics, audio-visual, IT and security systems, this design consultancy has clients in Bangkok, South East Asia and the Middle East including several large projects including a contract valued at over 40 million baht. The owner of the business is seeking either a partner to grow the company or can sell outright to the right buyer.
The business has offices in central Bangkok with a monthly rent of 100,000 baht for the 100sqm space and has a highly qualified staff of 20 full time employees with a total monthly payroll of 1.2 million baht a month. The company has been in business for six years and has earned a good reputation for high quality lighting and AV designs, as well as security systems. The company is interested in opening new markets and offering new services.
There are three options for investment for joint venture:
ASKING PRICE: 25% for 400,000 USD
49% for 800,000 USD
51% for 1,200,000 USD