Weekly Column

Sunbelt Asia Weekly Column 12 December 2019

Sunbelt Asia Weekly Column

12 December 2019

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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

Looking to start your own business and overwhelmed by the information?

There are quite a few options available to you including BOI, Limited Company and more. We can assist you in finding the right fit for your business ideas.

More online

Tuesday December 10 is a public holiday in Thailand to honor Constitution Day, as such all government offices will be closed. Sunbelt Asia offices will reopen for business as usual on Wednesday December 9

Four new businesses to be removed from restricted list

The Department of Business Development (DBD) has discussed its plan to remove four more restricted businesses from the list annexed to the Foreign Business Act of 2542 with the Board of Investment (BOI), according to a report in The Nation.These four business types are: the Type 1 Telecom license for telecommunications operators without a network; the aviation maintenance business in relation to certificates for Type 2 and Type 3 of the maintenance unit; and high-value-added software development services. The FBA restricts foreigners from operating certain types of business unless they obtain a Foreign Business License. They DBD plans on reviewing the restricted business list more than once a year and will also connect its database with BOI with the aim of awarding business certificates to foreign investors within one day. If you are interested in opening a business in Thailand but may need a Foreign Business License, Sunbelt Asias lawyers can assist you in this complicated process.

Gold, gems and jewelry exports up dramatically

Bucking the trend, gold, gems and jewelry exports have risen dramatically in the first ten months of the year, up by 37.59 percent year on year to US$13.97 billion. Gems and jewelry, excluding gold exports, also rose on their own to US$6.9 billion, up 6.24 percent. Gold exports to ASEAN countries rose 198.03 percent, leaping 306 percent to Singapore and 146 percent to Cambodia.

Bangkok ranks 20th in Expat poll

Internations, the world’s largest expat community with more than 3.5 million members ranked Bangkok as 20th in the world for most expat friendly. More than 20,000 expatriates representing 178 nationalities and living in 187 countries or territories provided information on various aspects of expat life. Bangkok ranked well on affordability, safety and health care but was dragged down by environmental concerns.

TAT Licensed Kanchanaburi travel agency

This long established Kanchanaburi travel agency handles inbound tours to the popular province. Holding the valuable TAT license the business is turnkey for the new owner.

Last year’s sales reached 4.5 million baht with a net profit of 1.04 million baht.

There are six employees with experience in the business with a total monthly payroll of 80,000 baht. There are several part time tour guides the company can hire freelance as needed.

The owner is now retiring and so wishes to sell the business.

ASKING PRICE: 11.8 million baht

Samui swimsuit business

This swimming suit business produces their own locally made “Fair trade” bikinis on Koh Samui and has four retail shops. With over 128 designs and over 30,000 swimming costumes already sold they hand make uniquely designed styles at a high-quality level.

Their business is supplemented with merchandise like bags, caps, flipflops from “Robin Ruth”, and other original brands in their shops, for Asians and foreigners, sizes are S until XL, a big range of European sizes, 34-48. There are 7 full time well trained employees who, having been with the company for some time, work independently in each shop. With an opportunity to obtain a work permit this is an attractive business for locals or foreigners.

Rent on site 1 & 2 is 85,000 THB per month, rent on site 3 is 60,000 THB per month, rent on site 4 is 10,000 THB per month and a security deposit will be required.

ASKING PRICE: 12 million baht

Russian restaurant near the beach in Samui

With the necessary requirements to support one work permit for a foreigner this 26-seater Russian restaurant has a modern design and is located in the most popular tourist island of Koh Samui only 100 meters from the sea!

Set over two floors, the restaurant was opened in 2015 by the current owners and on the ground floor there is the restaurant, kitchen and auxiliary facilities, with the kitchen being well equipped and ready to go. There are three full time employees and the business saw sales of 3-3.5 million a year with a profit of around 800,000 baht.

A well-known, highly recommended restaurant with good reviews, this place has a large customer base and good reputation. The restaurant has all the necessary documents and is ready for immediate transfer. With its own delivery service and a highly rated website the business is quite well-known.
The second floor boasts 80 m2 total comprising of a living room. Two large rooms and a bathroom, very convenient for living, so there is no need to rent an additional house. Rent is a reasonable 20,000 baht / month

ASKING PRICE: 2,775,000 baht

Boutique villa in Phuket

This fully licensed boutique hotel, offers 4.5-Star accommodation to guests seeking peace and quiet in a beautiful setting just a short distance away from a major golf course and shops. The hotel sits on just under 1 rai of land (approximately 1,590 sqm). There are 7 rooms in total, one of which is currently being used by the owner, with luxury en suite bathrooms, WiFi, and smart TVs. The main buildings are in a traditional Thai architectural style, and have been constructed to an extremely high standard.

The villa is only 15 minutes from 3 of Phuket’s finest beaches, and the hotel offers a shuttle service to the beach each morning, as well as a pickup service. The resort also has bicycles which guests may use to explore the beautiful back roads of Cherng Talay, Laguna and Bang Tao. There is a massage sala at the rear which is also popular with guests. There is also land around the building that could easily be developed to add more occupancy. The business does well during high season with an occupancy rate of 77 percent.

ASKING PRICE: 30 million baht

Koh Chang restaurant with gorgeous sunset views

This is a one of a kind stylish tropical restaurant in the heart of Kai Bae, the busiest village on Koh Chang. The location is perfect to host events (weddings, parties…), and to organize DJ sunset sessions (already organized twice a week), or to simply enjoy a nice evening with an aperitif and meal, directly facing some splendid island sea views with incredible sunset panoramas.

A massive swimming pool (with a large kids pool attached to it) facing the sea, is shared with the neighbor, a successful 26 bungalow resort. Consisting of chill out lounge areas inside and outside: 3 sea front salas (little huts with table and sofa), 4 sea front decks with lots of bean bags and pillows, a huge covered bar with many seats, a brand new pool table (of the best brand : Brunswick, 200,000 THB new), a tropical tikki bar serving elaborate cocktails pool side. The location also benefits from a kids playground.

Renovated and improved in 2019, it’s being sold fully furnished and fully equipped: ready to work from day one (with staff, menus, suppliers, online pages, everything.), perfect for a first investment on this tropical island. The owner has another business on the island and also wishes to spend more time with his family and so is looking to sell, the asking price is negotiable.

ASKING PRICE: 3 million baht

Licensed Pattaya hotel in the heart of the city

This cozy 12 room hotel, boasts 10 fully furnished rooms all with en suite facilities and with large King size beds and a further 2 bedrooms with single beds above a restaurant serving both Thai and western cuisines, is a great opportunity to anyone wanting to run a business the heart of the city of Pattaya. At just 1.5 km away from walking street with the Big Buddha close by and all the major city attractions are just a short distance away.

Selling due to the owners needing bigger premises this hotel is priced to sell at 2 million baht.

With a lift to all floors and the current fixtures and fittings included in the sale, this really is a great solution for anyone wishing to start business immediately.

This hotel has all the transferable licenses required a long lease and 3 full time staff who are happy to remain should the new owners require.

ASKING PRICE: 1.5 million baht

Cloud Server business based in Chiang Mai

Currently rated as one of the top 10 cloud server providers in Thailand – this top rated cloud server provider is based in Chiang Mai Through a simple web interface customers can create, scale, and operate their cloud servers and pay only for the resources they use.

The hosting staff are highly skilled, loyal and independent making running this company with only 5 staff very easy to manage. With Cloud servers a growth market in Thailand there could be a minimum annual growth of 20 percent.

With the customers paying in advance they are able to focus on the business operations only as this business is highly automated. Order processing and invoice payments, for example, are fully automatic. With more than 700 active customers and 14,000 non-active customers the business has a stable base. Customer retention is at more than 2 years (and increasing). The business is in the process of expanding their product base which will result in more revenue from the existing customers and re-gain non-active customers.

Sale includes full inventory comprising of 35 servers in total located in Bangkok.

ASKING PRICE: 12 million baht

Gorgeous teakwood restaurant on the river in Chiang Mai

This beautiful teak wood Lanna style building is open air and centrally located on the river in Chiang Mai, with stunning river views.

Established in 2010, the massive building has 10,000 sqm, over two floors and can seat 220 people. Popular with tourists and locals alike, the restaurant has 40+ full time employees with monthly wages of 500,000 baht.

Well-reviewed, the business saw sales of around 35 million baht last year with a profit of 6-7.5 million baht. The new owner will need to pay key money of 9 million baht for the 9 year lease. Rent on this beautiful building that also has a large car park is 240,000 baht.

The owner is seeking to sell the business as he seeks other directions in business.

ASKING PRICE: 22 million baht


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