Weekly Column

Sunbelt Asia Weekly Column 12 October 2018

Sunbelt Asia Weekly Column

12 October 2018

Sunbelt Asia will be closed Tuesday August 23 for Chulalongkorn Day. This is a national public holiday and government offices will be closed.

CTrip, Chinas premier travel booking site, reported that Thailand was the top destination for Chinese travelers during the recent Golden Week holiday from October 1 to October 7. The country is the third most popular destination over all but jumped to the top during Golden Week with rising popularity from independent travelers. Bangkok, Phuket, and Chiang Mai were the top destinations in Thailand. According to Chinese analysts third and fourth tier cities in China will see significant outbound tourism and the number of travelers from six smaller Chinese cities more than tripled during this year’s Golden Week holiday. Chinese tourists showed interest in more than just shopping, bookings to museums online doubled from the previous year according to Ctrip. Overall, tourism in Thailand is expected to rise 3 percent year on year in the fourth quarter with an increase in Russian visitors and rising numbers of Chinese returning to the country. In total, 37.99 million visitors are expected for 2018, up 6.7 percent from 2017. Earnings from tourism are expected to grow by 9.2 percent to 2 trillion baht.

Condo prices in Bangkok, Nonthaburi, and Samut Prakan grew in the third quarter, showing an 11 percent year on year jump and 2.8 percent growth from the previous quarter based on the expansion of electric train lines. Bangkok prices grew 11.7 percent, while prices in Nonthaburi and Samut Prakan grew 8 percent while along certain lines prices soared. Along the Airport Rail Link prices grew 35.7 percent year on year, Pathumwan 34.9 percent, Bang Sue and Dusit districts prices grew 33.5 percent, and Huay Khwang, Chatuchak, and Din Daeng districts prices jumped 30.8 percent year on year. Prices along Sukhumvit also grew, but more slowly, with Khlong Toey and Wathana districts seeing a 16.7 percent year on year rise. Prices of new houses also grew in Bangkok, 4.1 percent year on year and 5 percent in Nonthaburi, Samut Prakan, and Pathum Thani. The city hopes to increase density with new zoning laws that will take effect next year, with high density zoning laws to be applied along the Orange line from the Thailand Cultural Centre to Bang Kapi and Min Buri and Northern Bangkok to also see drastic changes in density zoning along the new lines from Mor Chit-Saphan Mai-Khu Khot, the Yellow Line (Lat Phrao-Samrong), the Brown Line (Khae Rai-Lam Salee) and the Pink Line (Khae Rai-Min Buri).

The Board of Investment (BOI) reported that the total value of investment promotion applications submitted to the BOI in the first half of 2018 was more than 285 billion baht; close to that of the previous year. The Eastern Economic Corridor (EEC) topped the list with investments valued at 180 billion baht, or 64 percent of the total investment promotion applications. The BOI has set this year’s investment promotion application target at 720 billion baht and has issued various measures to attract more investors, such as offering privileges to projects in the EEC and organizing productivity improvement projects.

Thai Immigration has begun taking applications for Permanent Residency – applications will be accepted until December 28, 2018. Applications are limited to 100 people per nationality, those countries with several states, such as the United Kingdom, are considered as one country. Sunbelt Asia legal advisors can assist you in collecting all required documents showing your contribution to society, ensure all your Thai-language company documents are correct and complete and handle translation of documents. The process is rather complex so if you are interested in obtaining Permanent Residency contact us now to get the process started;

Special offer on serviced officesWe are offering two types of serviced offices available at a special promotional deal
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

Please feel free to contact us if you are in Thailand on (+66) 02-662-7004 to discuss any of these listings.

High-end Jewelry Factory and Exporter

Take advantage of Thailand’s premier reputation for high quality gemstones and jewelry design with this long-running jewelry factory in Bangkok. The business exports gold and silver jewelry and gemstone jewelry to the EU and the US, nearly 95 percent of its product are exported. The factory, which was established in 1994 has a team of loyal, well-trained and experienced staff who will stay on. The factory, which is set in 600sqm 5 story shophouse, has the capacity to produce 12,000 pieces a month and is currently running at only 6,000 pieces, showing a huge potential to double sales.

With a good reputation and a huge database of customers the business saw sales reach 24 million last year with a profit of around 15 – 20 percent. There are 35 full time employees with a total monthly payroll of 450,000 baht. There are more than 400,000 3D designs on file, valued at $1 per file and inventory valued at 5.5 million baht, both are included in the sale.

The sale includes all design files, customer database, and inventory 7,000,000 baht., a Thai company with 12 million baht in registered capital. There are currently four foreigners working full-time with work permits. The owner is moving back to his home country for family reasons and so is looking to sell this business that has huge growth potential.

ASKING PRICE: 12 million baht


Fashion Jewelry Business with 10 branches in Key Tourist Destinations

This fashion jewelry business has 10 branches nationwide; eight in shopping malls and tourist areas in Pattaya, one branch in Rayong and one branch in Bangkok and offers well-known jewelry with popular designs.

Each kiosk style shop is around 15sqm and the business has 15 well-trained and knowledgeable staff with a total monthly payroll of 300,000 baht. Sales for this business reach 15 million baht annually with a profit of 20 percent.

Inventory valued at 5.5 million baht is included in the sale as is the lease deposits totaling 600,000 baht.

The owner is moving back to his home country due to family issues and so is selling the business.

ASKING PRICE: 12 million baht


Alcohol Import & Distribution Business includes Buildings & Inventory

This alcohol import and distribution company was established in 1999 and has a large customer base with many top hotels and restaurants in Bangkok as well as agents in Phuket, Samui, Hua Hin, Chiang Mai and Koh Chang.

The company owns the building the business is set in, 670 sqm over four floors and includes a fully equipped gym, and a cigar lounge. There is a separate fully insulated area for wine storage as well.

There are six full time employees with wages of 80,000 baht. Annual sales have been around 20 – 24 million baht with a net profit of 2 – 6 million baht a year. Inventory valued at 20 million baht is included in the sale, along with all furnishings, fixtures and equipment, two buildings and four vehicles valued at 30 million baht.

The owner is moving overseas and so is selling this for a very reasonable price

ASKING PRICE: 60 million baht


French Bistro in Siam Paragon Shopping Center

This chic new French-apartment style bistro in Siam Paragon opened only this year but has already garnered great reviews for delicious food and a charming atmosphere.

Siam Paragon is one of the top luxury shopping malls in Bangkok and known for a variety of great restaurants, and is often a destination just for meals. It’s great for those seeking to avoid the traffic but still want delicious home-style French food.

There are 12 staff with a total monthly payroll of 191,800 baht, rent on the 132 sqm space is 435,1000 baht a month while sales in the first six months have already reached 7.8 million baht.

The owner is moving overseas and so is selling the business.

ASKING PRICE: 16 million baht


Large Hostel near Terminal 21

In a prime location near Terminal 21 and the BTS and MRT stations, this 21 room hostel is set in 3 commercial buildings and can hold 102 people. The are five floors including the rooftop in each building. With five private rooms and dorm rooms with bunk beds, each building is equipped with lockers and separate male and female shower rooms and toilets. Every room is air conditioned and there is Wi-Fi on each floor. There is also a rooftop water tank ensuring a steady supply of water. There is also a Southern Thai restaurant on the ground floor with a chef who is willing to stay on and work the restaurant.

The rent on the entire property is 270,000 baht a month and a 9 year lease contract. The owner invested around 16 million in the business. All equipment, fixtures, and fittings are included in the sale including televisions, computer systems and restaurant equipment.

The owner is moving and so needs to sell the business.

UPDATED NEW ASKING PRICE: 10.5 million baht


Rayong Construction & Fabrication Company with Land

This long-established fabrication and construction company has been in business for 20 years and is a leading specialist in the energy field.

The factory is in Rayong and has a total area of 24,000 sqm. This ISO 9001/2008 certified company has a registered capital of 30 million baht and has long established contacts and concessions in the business.

The sale includes the factory and the chanote title land the factory is on.

The owner is retiring and so is selling this long-running, well-established business.

ASKING PRICE: 130 million baht


Pattaya Furniture Factory & Design Studio

This high-end furniture factory in Pattaya offers top quality fine furniture and full-service interior design for residential and commercial projects with a reputation for attention to detail, unique and interesting design solutions and high-quality products. Offering a wide variety furniture, including stand alone and built-ins, the company has full – service interior design solutions for its customers.

The business has a 600 sqm showroom in a busy Pattaya area and a 2500 sqm factory on the outskirts. The company owns the land and showroom in town. There are 45 employees and the monthly payroll of 1 million baht includes the owner’s salary. Sales last year reached 50.8 million baht and net profit over 2.6 million baht. The owners have spent a great deal reinvesting in the business including property to continue its growth.

The sale price includes the company with showroom, factory and land

ASKING PRICE: 60 million baht


Samui Resort with Private Beach

Have you always wanted to live the life in paradise? Now is your chance! This exclusive luxury resort has direct access to the beach on the peaceful and idyllic west coast of Koh Samui. Samui has developed a reputation for top luxury resorts that attract people from around the world.

Established in 2008, the resort has two villas and four apartments, a pool and a large private home, guest villa and gym. The total land area is 3200 sqm fronting the beach with a full chanote title for the new owner.

The villas are large, at 118 sqm each, while the four apartments are 32 sqm each. The private mansion is an enormous 760 sqm while the guest villa is 75 sqm. There is a fully fitted 75 sqm gym as well.

Sales last year reached 3.8 million baht and there are four full time employees. The valuation of this project has been set at 195 million baht but the owners are keen to move off island for their children’s education so are selling it at a must buy price of 150 million baht.

ASKING PRICE: 150 million baht


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