Weekly Column

Sunbelt Asia Weekly Column 16 February 2018

Sunbelt Asia Weekly Column

16 February 2018

Transferring a visa to a new passport

Question 1:

When transferring an existing and current visa from an expired passport to a new passport, is it correct that the documents required are:

  1. Copy of the old passport.
  2. Copies of the new passport.
  3. Copy of the visa.
  4. Completed application form for transfer, and required fee.
  5. Copy of most recent 90-day form.
  6. Completed foreigner information form.

Is anything else required, such as a letter from the embassy? Some people say yes, others say no. Please confirm what is required.

Sunbelt Asia Legal Advisors responds:

Yes, you do need a letter from your Embassy certifying the change of the passport and a copy of your TM card.

So the full list should read:

  1. Copy of the old passport.
  2. Copies of the new passport.
  3. Copy of the visa.
  4. Completed application form for transfer, and required fee.
  5. Copy of most recent 90-day form.
  6. Completed foreigner information form
  7. Letter from Embassy certifying the change of passport
  8. Copy of TM card

Getting divorced in Thailand

Question 2:

My Thai wife I both wish to divorce. She is lazy, helpless and pretty much refuses to look for an attorney, insisting she will use my attorney (I plan to retain Sunbelt). In the USA, mediation lawyers are available for couples that agree on everything (as we have) and it is cheaper and faster. Is this possible in Thailand? Short of this I will have to find and pay a lawyer to call her.

Sunbelt Asia Legal Advisors responds:

A mediation lawyer is an option in Thailand and there is no need to retain two lawyers unless there is a dispute and the two sides are suing each other. The Sunbelt Asia Legal Advisors team will be happy to help in the mediation. Please do contact us at legal@sunbeltasia.com for an initial free consultation.

The Thai government began accepting applications for the new Smart Visa this month, more details on Sunbelt Asia here:

Thailand was the least miserable economy in the world according the latest Bloomberg “Misery Index” which relies on the idea that low inflation and unemployment generally illustrate how good an economy’s residents should feel. Thailand had the lowest ranking in 2017 and is predicted to maintain that in 2018. Thailand’s low unemployment rate and low inflation are key contributors. The Bank of Thailand reported that the country’s inflation rate was low at 0.66% last year while the country’s unemployment rate was 1.04%. Singapore was next for 2017 followed by Japan, Switzerland, and Iceland. For the 2018 predictions Singapore again came second followed by Japan tied with Switzerland and Taiwan.

Suvarnabhumi International Airport expects a 3.7% increase of inbound passengers during the period from February 10 to 23 as over 2.6 million tourists arrive at the airport during the Chinese festival during February 10-23, or 191,000 a day. During the 14-day Chinese New Year period, there will be a total of 14,700 flights, or 1,055 flights a day, up 3.5%. Regular airlines also sought 420 additional chartered and special flights during the period.

The government has told the BOI to change some of their promotion policies to allow for factors such as disruptive technologies, pollution reduction, environmental impact reduction and support for the country’s aging society. The Deputy Prime Minister also wants the organization to come up with a policy that clearly differentiates between priority sectors. He added that the BOI should ensure privileges for investing in special economic zones are attractive enough, support the agricultural and agro-tourism sector, and to play a leading role in incubating new entrepreneurs, especially tech startups and community businesses. At the BOI board meeting last week they approved measures to support entrepreneurs affected by a shortage of skilled workers, the government’s daily minimum wage hike, and those who want to improve production through automation. Those entrepreneurs are now eligible for a three-year corporate income tax exemption on existing projects for up to 50% of their total investments, excluding land costs and revolving funds while eligible businesses can also receive a 200% deduction on corporate income tax if they organize training programs to boost the digital abilities of staff. The Board also approved measures for agricultural businesses; they cut the minimum capital requirement for small-scale Thai entrepreneurs who invest in farm-related business to 500,000 baht from 1 million, can utilize used machinery, and are eligible for a corporate income tax exemption for 5-8 years on value not exceeding 200% of their investment costs.

The Customs Service at Laem Chabang will be utilizing the e-Customs system which allows exporters and importers to file documents and process requests in the electronic system. From 1 March firms may file pre-arrival processing online for cargoes transported by ships 24 hours in advance, they will also be able to submit the necessary documents and make payments electronically. The office has also implemented the e-Import paperless document processing system to help speed up the procedures. The port handled 7.67 million containers in 2017 with a 5 percent annual growth

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.

Hostel in Silom area

In the popular Bangrak neighbourhood of 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

Large restaurant with balcony space on Sukhumvit

This charming home-style 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 300 sqm restaurant has 7 years left on the lease and covers 2 floors with an 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 new owner can change the focus of the restaurant if they desire as the location is prime.
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: 15 million baht

Long-established hair salon & nail spa on Wireless

This long-established hair salon offers waxing and a nail spa for its clients in a top Wireless Road location. Wireless Road is often known as Embassy row due to the many embassies on the street but the street is also home to many office buildings and hotels. The salon has been in business for 12 years and has built up a great reputation and many repeat clients.

Rent on the 142 sqm space is 168,000 baht a month and there are 7 employees that earn about 200,000 baht per month in commissions. All of the staff are long-term, well trained technicians. Sales last year is 7,405,242 and net profit 1,628,301. The equipment and furniture are good quality and included in the sale.

ASKING PRICE: 6 million baht

Restaurant near Terminal 21

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 are 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: 3.6 million baht

Long-running Pattaya hotel & restaurant

This long-running hotel and restaurant was fully renovated just this year for a new, modern look. Located on Pattaya 2nd road, the hotel now has an up to date, modern kitchen, bar, and restaurant with classic decor. There is an outdoor dining space as well and the entire restaurant seats 50 people.

The hotel has 14 rooms over 4 floors, in a three unit shophouse. Rent on this large space is only 100,000 baht per month. The hotel has income from a tour company of 15,000 baht a month, reducing the total overall rent to 85,000 baht a month. The lease is set for 4 years plus 3. There are 6 staff with a total monthly payroll of 70,000 baht a month. Located right on the main road and with good lease terms, this is a deal.

The owner is moving to Bangkok and so must sell the business. The sale includes all new equipment and the fully renovated restaurant and bar as well as a Thai company with work permit.

ASKING PRICE 5 million baht

Popular American franchise in busy Samui area

This is your chance to get into a popular sandwich franchise in Koh Samui and expand it further. The owner is selling this popular restaurant and the purchase will give the new owner exclusive rights to the island. The new owner will need to pay the franchise fee to the company as well as a deposit for the supplier, however, this is the only one operating on the island and the new owner will have first rights to any expansion.

Established in 2007 the restaurant seats 30 and rent on the building is 75,000 baht a month on a 3 + 3 year lease in a top beach location. There are six employees with a monthly salary of 115,000 baht including the owner’s salary. The key money of 2.5 million baht has already been paid on a 3 year lease that began 16/12/15. All that has to be paid until the end of the lease is 5,000 baht per month. The business made 5 million baht in sales last year with a profit of 1 million baht.

The buyer will need to undergo training with the franchisor and purchase the franchise license. The owner is selling this business as he is moving overseas.

ASKING PRICE: 1.5 million baht – does not include franchise fee and supplier deposit.

Bo Phut guesthouse & restaurant

This clean and quiet guesthouse and restaurant in Koh Samui is located near the beach in the popular Fisherman’s Village area of Bo Phut. Well-rated on Trip Advisor the business was established in 2015 and has garnered good word of mouth in that time. There are 15 rooms (air conditioned and fan rooms) both singles and doubles to cater to every guest’s needs.

There is also a restaurant and bar in the guesthouse as well as laundry rooms. This is a turn key business for someone wanting to step in to a guesthouse business on the booming island of Koh Samui. The lease on the business runs until 2020 and rent is 100,000 baht a month. There are two staff with a total monthly payroll of 21,000 baht. Sales have reached 3 million baht with a profit of 1 million baht.

The owner is moving and so must sell this guesthouse in a really great location.

ASKING PRICE 7 million baht

Widely known online health food store

This online health food store is one of the most well-known in Thailand and has earned a good reputation for providing high quality superfoods, and raw and organic foods and products with delivery around the country and worldwide. The website is quite extensive and has a great modern design with built in check out system and secure payment.

This business has huge potential growth as the health food industry takes off in Thailand. The new owners can run the business from their current location with no need to relocate since it all takes place online. The company has been in business for four years and the current owners expanded it and updated the website after taking ownership one and a half years ago.

The owners wish to sell for family reasons.

ASKING PRICE 4.5 million baht

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