Weekly Column

Sunbelt Asia Weekly Column 22 June 2018

Sunbelt Asia Weekly Column

22 June 2018

Bankruptcy or divorce claim on property in Thailand from overseas

Question 1:

If a foreigner (Western passport holder who resides outside of Thailand) owns a condo in Thailand, but has a bankruptcy or divorce claim against him in a different country, can that other country file a legal claim to seize ownership of this condo in Thailand? The condo is under foreign ownership with one single owner.

Sunbelt Asia Legal Advisors responds:

Much depends on the country where the legal proceeding is taking place, if that country has a legal agreement with Thailand to honor and execute court orders or not. Diplomatic agreements will vary from country to country, for example the Russian Federation has an agreement with the EU to execute EU court orders while there is no agreement with the U.S. Sunbelt Asia Legal Advisors can assist you in researching the diplomatic agreements between Thailand and the country where the legal proceeding is taking place.

Traveling in and out of the Kingdom regularly

Question 2:

I’m considering a job in the Middle East. My Thai wife and daughter would stay in Bangkok as she runs a successful business here, while I would probably fly back to Bangkok twice a month for long weekends. What are the Thai visa options for doing this? I currently work for a multinational company in Bangkok and have a visa and work permit for that, but these would presumably expire at some point after I resign and I would need a different arrangement.

Sunbelt Asia Legal Advisors responds:

You have two possible solutions; a marriage visa or a 30 day stamp on arrival. However, with frequent flights in and out of Thailand immigration officers may wonder and could ask you questions on your arrival. You could possibly get out of this by showing your marriage certificate and the birth certificate of your daughter.

However the first option is probably the best one to avoid questions and any hassle on arrival. Sunbelt Asia Legal Advisors can assist you with this issue if you wished to pursue the marriage visa option.

The Commerce Ministry plans on removing five services from List 3 on the Foreign Businesses Act which will allow foreigners to invest freely in these services without needing a license from the Commerce Ministry. List Three requires businesses to obtain a foreign business license and limits foreign shareholding to 49 percent. The five services that the Ministry will review in July for removal are accounting, legal services given to subsidiaries, space and facility rental, lending to subsidiaries and consulting services.

The first five months of the year saw 16.4 million overseas visitors according to the Ministry of Tourism and Sports, a 12.62 percent rise from the same period last year. Foreign arrivals spent a total of 867.46 million baht, a 16.11 percent year on year. More than 2.75 million foreign visitors arrived in May – a 6.35 percent increase year on year, generating 136.71 million baht in revenue. The top three foreign nationalities visiting Thailand were from China, Malaysia and India.

The Airports of Thailand board approved a proposal to build a second passenger terminal at Suvarnabhumi International Airport. The plan will now be put to the Transport Ministry, the Office of the National Economic and Social Development Board and the cabinet for consideration. The AOT is implementing the 2nd stage of the airport’s development project to increase its capacity, currently the airport has the capacity to handle 45 million passengers a year and is looking to boost that to 65 million. The airport is already overcapacity and is expected to handle 65 million passengers a year, the new terminal would reduce overcrowding and allow for the airport to handle 90 million passengers a year, construction is expected to begin in 2019 and finish by 2021.

Spending on digital ads is expected to grow 16 percent to 14.3 billion baht this year on the back of more effective tools in reaching individuals, last year it grew by 31 percent and reached 12 billion baht. Automobiles and telecommunications top the spenders list followed by banks, skin care, non-alcoholic beverages and cosmetics. Dairy products, insurance, alcoholic beverages, hair preparations, vitamins and supplemental foods, and retail shops rounded out the top ten. Spending on print media and television has declined while advertising in digital television has grown.

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 & restaurant 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 WiFi 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 business has contracts with Agoda, Booking.com, HostelWorld, Airbnb, Expedia, Traveloka and other booking sites. 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.

ASKING PRICE: 15 million baht

New price on restaurant in busy Sukhumvit soi

– Update! New asking price as the owner travels too much to manage the business –

Located in a busy Sukhumvit soi, this restaurant is well-reviewed on Trip Advisor and has garnered good word of mouth with locals, expats, and tourists. The owner is looking to sell the brand, equipment, and will train the new owner in all recipes.

There are six service staff and six kitchen staff including the chef, who will stay on to work for the new owner. The 200sqm restaurant can seat up to 60 people and rent on the space is 200,000 baht a month. The current owner has a 3 + 3 year lease that expires in 2019. There is a parking area available as well. The restaurant has room for an office and an area with lockers for the staff. The fully fitted out kitchen is designed to cook both western and Thai food.
Sales last year reached around 12 million baht with a profit of around 30 percent. The owner is looking to sell as he travels for his overseas business too often to manage the business.

5.5 million baht

Fully licensed insurance broker seeks to sell majority shares

This fully licensed General Insurance Broker Company was established in 2008 and has developed an extensive client list of local subsidiaries of global companies as well as foreign owned companies and Foreign nationals and offers a full portfolio of Corporate/Business Insurances, Health, Motor, Industrial All Risk, Financial Risk, Public and Products Liability, Marine, Construction and Erection Insurance, House/Household, and car insurance among others. The business is a member of two global broker networks, one of which it represents exclusively in Thailand. The business currently has over 20 contracts in place with local and international insurance companies and good relationships with large insurance suppliers.

The process of gaining a corporate broker license can take up to a year and a half and 2 million baht in capitalization among other requirements. This business currently has 6 million baht in fully paid up capital which allows for 3 work permits. There is three highly qualified staff working in the Sathorn based office. The corporate and all individual licenses are in place

The business earns above 2 million Baht a year in commissions with premiums reaching 12 million baht a year. The owner is selling majority shares in the business but will maintain a relationship with the new entity which will guarantee the continuation of the long relationships and high retention rate as an excellent basis for growth.

ASKING PRICE: 5 Million baht for 75% Shareholding

Healthy fusion food restaurant in popular community mall

This healthy Thai – Western fusion food restaurant offers delicious organic food in a popular Sukhumvit community mall. The restaurant has earned good reviews on Trip Advisor for its healthy menus and a loyal repeat business. With an industrial chic restaurant and in a popular community mall that hosts many weekend events and is a big draw, the rent on the 97 sqm space is 122,220 baht.

The business has 8 full-time employees with monthly wages of 140,000 baht. Sales have reached 7.2 million baht with a net profit of 700,000 baht. The owner invested 4.5 million baht in fitting up the business but is moving to another province so has set a competitive price to sell it quickly.

ASKING PRICE: 3.9 million baht

Furniture factory and exporter with land in Bangkok

This factory makes massage tables and other furniture in Bangkok and sells their furniture to hotels, resorts, and spas overseas and in Thailand. In business since 2000 the company has built up a good reputation for quality items and a good client list.

The business has 11 full time and 3 part time staff with a total monthly payroll of 145,000 baht. Sales are around 8-10 million baht a year with a profit of around 40 percent. The business owns the land which is included in the sale. The 300 sqw property holds the factory and a building with a total of 560 sqm. The price of land and rents in Bangkok continue to so this is a great opportunity to own your own property.

The owner is retiring and so wishes to sell the business as well as the land and property.

ASKING PRICE: 35 million baht

Restaurant on ground floor of Asoke area hotel

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: 2.9 million baht

High-end Pattaya furniture factory & design service with land

Located in Pattaya, this high-end furniture factory offers not just top quality fine furniture but also full service interior design for residential and commercial projects. The company has earned 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 a full – service interior design solution 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. The business is open 6 days a week.

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

Well-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: 1.85 million baht

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