Weekly Column

Business News

Sunbelt Asia Weekly Column


27 October 2017

Separate wills for different countries

Question 1:
I wish to make it as easy as possible for my executors upon my death to finalise my affairs. I’m not planning on falling of the perch just yet, touch wood. The assets in my country (Australia) are legally covered by my will however I am wondering what issues my executors may have in accessing my bank account in Thailand. I have read (maybe incorrectly) that you should have a Thai will also so you can avoid having to go to the Thai court to clear funds? Is there a conflict on having two wills in two countries?

Sunbelt Asia Legal Advisors responds:
Sunbelt Asia Legal Advisors always recommends that there be one will for assets in Thailand drafted by a Thai lawyer a separate foreign will for foreign assets. Wills from another country with an executor named there might have difficulties in Thailand. Required documents are: - Passport copy and address of a person who wants to draft the Will - Passport copy and address of an executor - Name of the Bank, branch address, bank account name and bank account number in a format xxxxx1234 (please mention only last four digits). Sunbelt Asia Legal Advisors have extensive experience drafting Thai wills and ensuring that your wishes are enacted in distributing your Thai assets and can draft a Thai will in both Thai and English. Getting in touch with Sunbelt Asia Question 2: Does Sunbelt Asia have a 24-hour phone contact number for legal representation in the event that you believe it is in your best interest to get legal advice and assistance? At a price, of course! Sunbelt Asia Legal Advisors responds: Although Sunbelt Asia Legal Advisors does not have a 24 hour hotline our legal advisors are able to provide immediate support for clients after work hours.




Female tourists outnumber male tourists to Thailand for the first time in large part due to the large numbers of Chinese women traveling to the country. Tourism figures from the Ministry of Tourism and Sports showed that of the more than 32 million visitors to the Kingdom in 2016, 52 percent were women. In 2015 48 percent of visitors were women and in 2012 only 42 percent. The government launched a Women's Journey campaign last year working to attract women to the country's spas, hotels, malls, and restaurants with discounts from an app and the website. However, the numbers are in large part due to the increased numbers of Chinese women traveling; the number of Chinese women visiting the country has quadrupled since 2012 as families travel more. A major Chinese travel website, Tuniu, reported that 62 percent of its customers last year were women according to Chinese media. Even countries that have skewed more heavily towards male tourists in the past are seeing growing numbers of women tourists, such as Japan, the United Kingdom, Germany, Australia and the United States.

Medical and wellness tourism to Thailand is growing, in part due to a new visa extension allowing citizens from Asian countries here for treatment to stay up to 90 days; now citizens from Japan, Bhutan, Bangladesh, Sri Lanka and Nepal as well as China, Cambodia, Laos, and Myanmar can extend their visas up to 90 days for medical treatment. The number of international medical tourists to Thailand is predicted to reach 2.4 million while an additional 900,000 expatriates are expected to visit hospitals. The number of wellness tourists to Thailand grew 7 percent annually from 2013 - 2015 and accounts for 3 percent of the GDP. Wellness tourists tend to spend more during their trips than the average tourist, spending on average 61 percent more.

In a study of 209 countries by global payout solution provider Hyperwallet, Thailand came in 34th out of 36 countries in attractiveness as an online global marketplace. The company analyzed ten key factors including infrastructure, e-commerce activity, and foreign competition and workforce to select 36 countries out of 209, as targets for expansion. Thailand made it into the top 36 in the Evolving Countries category as some policies and regulations still remain undefined. However, Thailand showed strongly in having a large freelance workforce and new banking regulations should make it easier to accept a wide variety of payment options. Other countries in the evolving category include Spain, Switzerland, Italy, Poland, South Africa, Turkey, Mexico, Brazil, Saudi Arabia, Russia and Chile.

Exports rose 12.2 percent year on year in September to US$21.8 billion, in part due to strong demand for rubber, sugar, and frozen and processed poultry according to the Commerce Ministry. Export revenue for the first nine months of 2017 also rose to a six-year high of US$170 billion 9.3 percent higher than the same period last year. Imports over the first nine months of this year also expanded growing 14.8 percent to US$160 billion, resulting in a surplus of US$12 billion.

Business news on Sunbelt Asia


Special offer on serviced offices for October!!

Starting October 1 we have two types of serviced offices available at a special promotional offer

Office with space for two staff at 9,500 baht a month
Office with space for three staff at 11,000 baht a month
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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.

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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

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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

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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: 5 million baht (BKK15802)

View this listing on Sunbelt Asia

Popular 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.

Inventory valued at 1 million baht is not included in the sale. 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: 3 million baht (BKK15709)

View this listing on Sunbelt Asia

New restaurant in community mall in rapidly growing neighborhood

This brand new restaurant is only 9 months old but the owner is forced to sell as other business interests take up all their time - this is a great deal for someone looking to open a new restaurant in a new location. The restaurant is set in a new shopping mall and has a large outdoor terrace as well as 150 sqm inside.

The area is building up quickly with eight condo buildings nearby, a new international school going in soon and plans for a new dermatological hospital.

The terrace has been underutilized and with a good bartender and promotions the new owner could easily boost sales by 30 percent. Sales in the first nine months were 440,000 baht a month. The rent on this large space is 134,000 baht a month and the new tenant will be granted the first three months rent free and the next six months after that at 50 percent off. There are currently nine staff with a monthly payroll of 150,000 baht.

The owner invested 6.8 million baht in building this space but is selling the entire thing at only 3.5 million baht in what is essentially just an assets sale. This is almost half of the investment as the owner is keen to sell quickly.

ASKING PRICE: 3.5 million baht in an asset & location sale (BKK15783)

View this listing on Sunbelt Asia

Siam Square dental clinic seeking tenant to share space

An existing dental clinic is seeking a tenant to share space on this amazing Siam Square location. Siam Square is one of the top locations in Bangkok and this is an ideal location for a beauty clinic to open and share the common area and consultation room with the dental clinic that is using a part of the premises. The new tenant would share the rental fee with the dental clinic. Rent on the space in this really amazing location is 126,000 baht a month for the new tenant. A deposit of 3 months and one month in advance would be necessary.

RENTAL PRICE: 126,000 baht a month (BKK15777)

View this listing on Sunbelt Asia

Popular Sathorn area craft beer bar

This popular craft beer bar was established in 2015 and has earned many good reviews and press coverage for its selection and cool atmosphere. Located in the Sathorn area, the bar is surrounded by condos and offices in a busy expat neighborhood.

The 70 sqm bar seats 50 with a monthly rent of 30,000 baht on a 3 year lease. There are three full time staff and one part -time with a total monthly payroll of 32,000 baht. The business is open 6 days a week from 5 p.m. to 2 a.m. and last year earned a net profit of 245,000 baht on 1.9 million in sales.

The owner has another business that takes up his time and so is looking to sell this one.

ASKING PRICE: 1.5 million baht (BKK15794)

View this listing on Sunbelt Asia

Software company seeks investors for expansion plans

This leading specialist software provider is seeking investors to expand the business. Providing logistics and supply chain businesses with key software in Thailand, India, Malaysia and Indonesia for the past 12 years, the company is looking to expand further into Thailand and a total of eight countries and is seeking a committed investor to fund the centralized team that will manage the expansion The company already has joint venture partners in every country show share 49% - 50% in those countries. By the end of 2017 the company should be operation in 8 - 10 countries.

They are seeking a 49% investor for 122.5 million baht

ASKING PRICE: 122.5 million baht for 49% shares (BKK15742)

View this listing on Sunbelt Asia

Guesthouse in old town Chiang Mai

This charming guesthouse restaurant/bar is located in the heart of the old city in Chiang Mai, walking distance from all major old city attractions including the Sunday Walking Street Market and the many beautiful temples found in the old city. Chiang Mai continues to see tourism grow and this guesthouse has taken advantage of that growth. The guesthouse has contracts with all the major booking agencies and has earned five star reviews on Trip Advisor and Airbnb for its friendly staff, comfortable rooms, charming décor and central location.

The business was established in 2011 and has 560 sqm over four floors. Land with a chanote title is included in the sale, a rarity in this location. Each room is a large suite type room with minibar, en-suite, air conditioning and free WiFi throughout.

The business has six full time staff with a total monthly payroll of 60,000 baht. The guesthouse and restaurant saw total sales reach 4 million baht in 2016 with a net profit of 2.7 million baht.

The owners are relocating and so are selling the business, the building and the land.

ASKING PRICE: 18 million baht (BKK15758)

View this listing on Sunbelt Asia

High occupancy hotel near Pattaya Walking Street

This modern hotel is very close to Walking Street in Pattaya and has a high occupancy rate and good reviews from guests. The hotel is almost always full and has attracted a strong Middle Eastern clientele.

There is a total of 18 rooms in the hotel, and there are a variety of rooms, all well equipped and roomy. The hotel also has a coffee shop for guests and outside customers.

The hotel has a good income each month, taking in 300,000 baht every month regularly. There are 4 staff with a total monthly payroll of 50,000 baht.

The owner is offering two options; lease the operation with key money of 3.5 million for 3+3 years and rent 100,000 baht per month or purchase the property for 25 million baht.

ASKING PRICE: 25 million baht or 100,000 baht a month plus 3.5 million key money (BKK15785)

View this listing on Sunbelt Asia

Sunrise Tacos Franchise Opportunity  

Interested in joining the most successful and popular Mexican restaurant franchise in Thailand? Sunrise Tacos is seeking qualified franchisees to join us in our commitment to quality and healthy, delicious food. Are you experienced in hospitality or business management but want to strike out on your own? Sunrise Tacos is seeking franchisees fully committed to the Sunrise Tacos way; with a hands on approach to running the business and experience in hospitality or business management. The leadership at Sunrise Tacos prides itself on maintaining a close and personal relationship with each of our franchisees and looks at franchising as a long-term business partnership. We are committed to our franchise partners and helping them grow.

With the opening of the ASEAN Economic Community at the end of this year we at Sunrise Tacos see the potential for growth in the region. If you want to be a part of that potential let us know! We already have a branch in Phnom Penh and have added more around Thailand, including our new franchise in Chiang Mai, and are seeking committed, enthusiastic business minded people to join us. Contact [email protected] for more information.




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