Sunbelt Asia Weekly Column
12 July 2019
Sunbelt Asia will be closed for Tuesday July 16th and Wednesday July 17th for Asarnha Bucha Day and Khao Phansa which are public, government holidays.
Contact us for all your business and legal needs.
Sunbelt Asia can handle all your legal and business needs; from visas to work permits, prenuptial agreements to divorces, condo purchases and wills, starting a new business or purchasing an existing one. We’ve got you covered.
For legal inquiries
contact us here
Or check out our
Facebook Page
for free legal advice!
For business inquiries
contact us here
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
Thai travelers prefer booking through their mobile phones.
A recent Expedia survey found that Thai travelers are more likely to book hotels and flights with their mobile phones, of those surveyed 70 percent of respondents said they were likely to book a hotel using a mobile device, 18 percent somewhat likely and 12 percent least or not likely. While 67 percent said they were extremely likely to book a flight using a mobile device, 18 percent somewhat likely and 15 percent not likely. A new market research study shows that mobile users in the region will account for half of global app installs by 2020, three times more than in any other region.
Chinese firms moving operations to Thailand SEZs.
Ongoing trade tensions and rising labor costs have seen Chinese firms migrate to Thailand and Southeast Asia. Chinese companies are looking to the Eastern Economic Corridor and other economic zones in Thailand that offer special benefits including land purchase in addition to lower labor costs. A property consultancy firm indicates that Vietnam, Thailand and Malaysia are the primary benefactors of manufacturers moving out of China and that Thailand and Malaysia both have a mid-tech workforce now costing 60 per cent lower than in China, compared to 33 per cent in 2010. China was also a huge source for exported Thai fruits and vegetables with shipments to China rising by 31 percent year on year from January to May. Exports were boosted by the Asean-China Free Trade Area which has benefitted the countrys fruit and vegetable exporters since its implementation in 2003. China is the third biggest export market after Hong Kong and Chile.
Thailand Investment Year to Offer Further Tax Reductions for BOI Companies.
The IMD World Competitiveness Centre (a Swiss think tank) ranks Thailand at 25th in its 2019 index (consisting of 63 countries) only Singapore and Malaysia are placed ahead of it within ASEAN.This year has been marked as the Thailand Investment Year especially aimed at encouraging the private sector to invest in targeted industries the country is keen to develop over the long term. The particular focus this year will be on activities that will concentrate on the use of advanced technology and the development of the knowledge-based industry. Alongside existing incentives, Thailand Investment Year will provide a 50 percent reduction of corporate income tax for three years on top of the basic package for large investment projects (=Bt1bn) in targeted industries. Firms that commit to investment within the targeted industries located in the designated areas in the EEC will enjoy a maximum of up to 13 years of corporate income tax (CIT) exemption.
Targeted activities include electronics design, R&D, biotechnology, engineering design, scientific laboratories, calibration services, vocational training centers and targeted core technology development, etc. This is in line with their program to promote their Special Economic Zones for investment and development. The BOI offers valuable privileges including multiple work permits, foreign ownership, corporate tax breaks and more for qualifying businesses, whether in the SEZs around the country, the Eastern Economic Corridor (EEC) on the Eastern Seaboard or in qualifying industries. Contact us to see if your business or business idea qualifies. Call us at (+66) 02-662-7004 for a free consultation.
More countries added to Customs Department NSW electronic exchange.
The Customs Department plans to add three more countries to the National Single Window (NSW) electronic exchange system; Myanmar, Cambodia and the Philippines. The system allows importers and exporters a single system to handle customs formalities for 27 agencies. This reduces the amount of time and increases the efficiency of importing and exporting in a paperless system. New systems and increased investment in infrastructure saw Thailand surge from 45in 2016 to 32 in 2018 in the World Bank’s Logistics Performance Index.
Marijuana, the new super industry in Thailand.
Marijuana was legalized at the beginning of the year and while the industry remains in its infancy there is much confusion as to who can apply and how to do so. Sunbelt Asia is a specialist in the future of the Marijuana industry in Thailand, we have one of our senior partners and team dedicated to being at the forefront with the latest information, registrations and policies of this future super industry in Thailand. Contact us if you need representation to proceed with your application today. Please call (+66) 02-662-7004
Be sure and contact our English speaking
legal advisors
for all your legal needs
Sunbelt Asia Facebook Expert Advice Page
Serviced Offices for all your business needs
- Telephone answering service (using your company name)
- Reception/Receptionist
- Secretarial assistance
- Internet Connection (Broadband Internet available at certain locations)
- Personal Computers (extra cost)
- Free WiFi
- Interview rooms
- Air conditioning
- Catering
- Complimentary water and European coffee
- Paperwork for you to register your address – We know the process so no need to wait 2-3 weeks for it to be processed.
The location of your new office in Bangkok is prime as it is connected to the Rama 9 Mrt Station. First month free on a six month contract! Two month deposit required.
Please contact Khun Ron at (+66) 02-662-7004 or contact us
——————————–
Please feel free to contact us if you are in Thailand on (+66) 02-662-7004 to discuss any of these listings.
Classic tropical beach bungalows on Koh Phangan
If living on a tropical island with your own business has always been your dream then this classic beach bungalow resort on Koh Phangan is your spot. With 3 rai of land, and 60 meters along the beach, this resort has 32 rooms; 13 are 22 sqm and 19 are 17.5sqm. Included is a large restaurant and many great reviews on booking sites. Known for its classic homey feel, the lease on this fabulous beach front resort is 14 years with a rent of 58,333 baht a month. There are two full time employees and a monthly payroll of 30,000 baht. The business is located in Ban Tai, with access to the main road and a walk from the party scene in Ban Tai village.
ASKING PRICE: 8 million baht
(BKK15900)
Phuket guesthouse near the beach
Located five minutes walk from a popular beach in Phuket, this guesthouse is also close enough to the party zone to go out and have a good time but not so close you hear it all! There are many restaurants, sports bars, shops, and convenience stores in the neighborhood- making it a popular tourist destination. The hostel is highly rated in Booking.com and Hostel World, and built up a good reputation.
The guesthouse has 5 private rooms and three dorm rooms that have 22 beds in total. Each room has air-conditioning and bathroom with hot water.
There are two Thai staff and monthly rent on the building is 45,000 baht. There is no key money but one month guarantee is required. Payment is three months rent in advance. The owner is forced to sell as he is relocating due to personal circumstances.
UPDATED NEW ASKING PRICE: 1 million baht
(BKK15874)
Restaurant, pub and hotel in heart of Pattaya
This long-running business in the heart of Pattaya and only 300 meters from the beach is a major steal, the owners are retiring after more than 20 years in business and are looking to sell these two freehold properties. Such a prime location does not come up very often, and include in that a popular and well regarded restaurant, pub, and hotel and the two four story shophouse units are a deal.
There are 10 rooms with an office and apartment over the two buildings, plus a large dining area that seats 70 people, a large bar area, and a large shaded outside terrace. The restaurant and bar seats over 100 customers and is open from 8 am to 1 am. Total size of the properties are 63 sqw over four floors. The rooms come fully furnished with en suite bathrooms, air conditioning and large flat screen televisions.
All fixtures, fittings, and equipment are included in the sale price. The property is in the company name.
UPDATED NEW ASKING PRICE: 30 million baht
(BKK15854)
Online loan business in Pattaya
This online loan business uses an application for borrowers to apply for loans, and the owner has been running the business herself making small online loans and collections.
The borrower uses a motorbike registration as collateral for the loan and the lender holds the title until the loan is paid, if the borrower defaults the company already owns the motorbike which can be sold to pay off the loan.
Based in Chonburi, this business has a registered capital of 5 million baht and includes the registered business. Anyone with capital can run this business, lending experience not necessary.
The 3,000,000 Baht selling price is negotiable.
ASKING PRICE: 3 million baht
(BKK15877)
Import & Distributor of wholesale foods, includes 4 retail shops
This import and distributor of wholesale foods was established in 1999 and provides high quality imported products for Thai retailers, wholesalers, and industrial users. The business is a direct importer and distributor of fresh produce and other unique food products from both local and overseas manufacturers and suppliers. The business also has four company-owned retail outlets located in wholesale markets.
The company has seen local gross sales average 360 million baht a year, export gross sales average 50 million baht a year .The owner will assist the new owner for one month and would be willing to be on call for a mutually agreed upon extended period of time to introduce all customers, suppliers, and business prospects as well as provide all information and documentation. The owner is retiring and so is selling this profitable company, the new owner could see a return of investment in 4 years.
UPDATED NEW ASKING PRICE: 40 million baht
(BKK15849)
Assets sale of turnkey restaurant in great Ekkamai location
A great deal for someone interested in walking into a fully set up restaurant on Ekkamai road. The restaurant has 350 sqm over five floors, with two floors used for the restaurant. The new owner could easily expand the upper floors for a hostel set up. Rent on the building is 80,000 baht with a 3 + 3 year lease. The kitchen equipment is only 1.5 years old. The new owner can move into a popular location and start their own restaurant easily. The owner is selling the assets and lease as he is moving back to his home country.
ASKING PRICE: 1.8 million baht
(BKK15873)
Futsal training center near MRT
This futsal training center is near a MRT station and many nearby schools Established in June 2018 the business has seen annual revenues reach 3.2 million baht.
There are five full time and one part time staff with a total monthly payroll of 60,000 baht. The lease contract is until 2030 and monthly rent is 120,000 baht.
The owner is forced to sell due to ill health.
ASKING PRICE: 8 million baht
(BKK15885)
Fun retail store chain with unique concept with branches around Thailand and in Cambodia
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 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 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 is 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 UPDATED ASKING PRICE: 180 Million baht
(BKK15817)
