Weekly Column

Sunbelt Asia Weekly Column 20 January 2020

Sunbelt Asia Weekly Column

20 January 2020

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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.

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New tax rules for condo owners

Condo owners concerned about the implementation of the new taxes should call us at (+66) 02-662-7004 to ensure that their tax rate remains as a residence. The government has delayed implementation of the new tax rates as the District Offices still need to implement procedures and policies. The government has stated that those condos being used as residences or for long-term rentals will be taxed at the lower rate residential rate while those being used for short-term accommodation such as AirBnB will be taxed at the commercial rate. Give us a call or email info@sunlegal.co.th for more information.

New locations for work permits starting January 16

Starting January 16 the Labor Department will now require work permit applications and renewals to be done in specific locations designated by them. Please contact us if you have any questions regarding where your renewal will need to be made as there are now 10 offices based on location. Call us at Tel. (+66) 02-662-7004 or email info@sunlegal.co.th for more details.

Chinese top investors in Thailand

The Board of Investment reported that in 2019 for the first time Chinese investment in the country exceeded that of Japan companies reaching 262 billion baht, nearly four times that of Japanese investment at 73.1 billion baht. Hong Kong investors came in third with a value of 36.3 billion baht. Chinese investors brought 160 billion baht for projects in 12 targeted industries and general sectors, while 101 billion was for the high-speed railway linking three airports. Investment applications overall were 756 billion baht,Thai and foreign firms submitted 1,624 projects

Cozy Phuket resort

This resort is ten minutes from Kata Beach and has twelve air conditioned rooms plus a dormitory style room that holds four beds. Two of those rooms are family rooms and two twin rooms. The hotel has a pool and free WiFi throughout.

The lease on the property is 125,000 baht payable yearly. Annual profits were 1.4 million in 2019 and 1.8 million in 2018. The current owner took over this three star hotel in 2018 but hasn’t had the time to manage the hotel properly.

A motivated manager could see profits rise. A Thai Limited company that supports one work permit is included in the sale. The owner would consider financing the sale.

ASKING PRICE: 1.8 million baht

Wood manufacturing and yacht services business on Phuket

This wood manufacturing business is located in Phuket and produces wooden blinds, kitchen cabinets, garden furniture, flooring, and decking. The business also provides repair and maintenance options for clients and tiling and cement work. There are also stainless kitchen fittings, and welding services. Additionally the company offers yacht services, repairs, maintenance and boat storage.

The business has a thriving online presence and has been in business since 2005.The business has registered capital of 4 million baht and the premises covers over 2,000 sqm plus a workshop of 550 sqm. Stock valued at 500,000 baht is included in the sale price. Sales have reached 700,000 baht to 1 million baht per month with a profit of 30 percent. There are 15 staff and wages of 200,000 baht a month. Rental fees for boats at the boatyard are 8,500 baht a month.

ASKING PRICE: 6 million baht

Popular Koh Chang bar on White Sand Beach

This fashion jewelry business has 10 Located on the popular White Sand Beach on Koh Chang, this popular bar has been in business for 17 years with only two owners. The business has had a good profit margin and full accounting for the past three years is available upon request. The business includes all fittings and fixtures valued at 100,000 baht, as well as two motorbikes. There is staff accommodation and it is possible to obtain one more room from the owner at 3,500 baht a month. Close to the beach, the owner is selling as he is moving to another part of the country.

ASKING PRICE: 1.25 million baht

Popular restaurant in Chiang Mai Night Bazaar

This restaurant has a great location right on the Night Bazaar in Chiang Mai and has been in business since 2008. The restaurant has 220 sqm over two floors with a rent of 250,000 baht a month. The restaurant is in a top location in a very popular area with a lot of foot traffic. The lease on the space is for 3 years. There are 24 full time employees with monthly wages of 250,000 baht. Sales were between 18-22 million baht with a proft of 2-3.5 million baht. Furniture, fixtures and equipment valued at 6 million baht are included in the sale. The owner is changing his focus and so seeks to sell the restaurant.

NEW ASKING PRICE: 3.5 million baht

Top ranked Bangkok cooking school

This top ranked cooking school has been in business in Bangkok for ten years. The owner is selling the business for 5.5 million baht which includes the business name, professionally designed website, 10,000+ newsletter and membership list, and online recipes.

Set up for a 20 person kitchen including all fixtures and fittings can be purchased for 210,000 baht plus ingredients for an additional 2,500 baht.

ASKING PRICE: 5.5 million baht

Custom tailoring and licensed manufacturing business

One of the oldest custom tailoring and licensed manufacturing businesses in Thailand, the owner has run the business for 30 years and has a database of 80,000 existing clientele plus a mailing list of 500,000. The business involves supplying suits and shirts, custom made or ready to wear to end users and business to business.

With three unique sales channels and a team of dedicated staff, the business has grown steadily over the years. A stable list of suppliers and sub contractors ensure that the business runs smoothly and efficiently. With a good profit margin the business is able to grow and prosper and invest in future growth.

ASKING PRICE: 36 million baht

Large Bang Kapi area restaurant

This Bang Kapi area restaurant has seating for over 50 guests and an outdoor space that could easily host over 70. While the restaurant currently sells halal food the new owner could easily change direction and consider obtaining a liquor license. The soi is a busy tourist destination with ten hotels. The restaurant runs 24/7 and sees high sales during the late night hours as it’s the only place open.

Fixtures, fittings and equipment including drinks refrigerator, large 3-door glass refrigerator, large freezer and full kitchen equipment. The outside has several long counters that serve fast food service with a noodle bar, a BBQ counter – there are eight different burners in this area. Supported by Food Panda and Grab, the take away side to this business has been evolving as more customers become aware of their excellent food, choice and service

With 7 full time staff the current owners do not need, but do chose, to come into the restaurant and all the staff are happy to move with a new owner. In fact the owner is very happy with his staff citing their reliability.

ASKING PRICE: 1.3 million baht

Budget guesthouse in Din Daeng area

This restaurant and guest house business rents budget rooms in the Din Daeng area of Bangkok, a short walk from the MRT station Phra Ram 9.

Comprising of beds for guests and a busy Thai restaurant, this is a gem of a business could suit someone looking to expand an already operating business.

In a nice busy nostalgic location, this is one of those charming local Thai areas that are getting scarcer as Bangkok heads for the sky with new condo developments. These locations are rich in history so therefore add to their charm.

Scalable, this business advertises in Air BnB only and has good occupancy rates, this current owner has over the last 4 years installed air conditioners in rooms as well.

ASKING PRICE: 1.8 million baht negotiable


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