Weekly Column

Sunbelt Asia Weekly Column 30 November 2018

Sunbelt Asia Weekly Column

30 November 2018

Sunbelt Asia will be closed Wednesday December 5 for Fathers Day and the commemoration of HM King Rama IX’s birthday. As this is public holiday, all government offices will be closed as well. We will reopen for regular business on Thursday, December 6.

The Immigration Department is trialling a new SMS service for foreigners, texting them when the expiry date of their visa comes near. The program will start in Chonburi and only with foreigners who have registered their phone numbers at the Chonburi Immigration office when they have applied for a visa or an extension. The texts will be sent to those with work permits, as well as those with tourist visas extensions and other extensions. The program is being tested out in Chonburi due to the high number of tourists and long-stay foreigners.

The government is predicting that the Blue Line extension of the MRT from Hua Lamphong – Bang Kae will open earlier than the scheduled September 2019, however details of the schedule are being revised. The Southern Green Line Bearing – Samut Prakan extension will be opened on December 6th, 2018. The Bang Sue-Thaphra segment of the Blue Line is still expected to open in April 2020 and at that point the loop will be complete and passengers will be able to travel to both the east and the west of Bangkok, which will help relieve congestion at Siam Station and Sukhumvit. The Pink Line Khae Rai-Min Buri section and the Yellow Line Lat Phrao-Samrong section are under construction and still on schedule. Bangkok Expressway and Metro Public Company Limited (BEM) plan on adding more trains to add 35 more trains with the first carriages arriving next April.

Thai auto sales hit a five year high as the Finance Ministry says economic indicators show continued strength in the Thai economy. Exports remained on track with and 8.7 percent year on year growth and teady growth among consumers and private spending. VAT revenues reached a three-month high while auto sales grew by 36%, the highest in 70 months, domestic cement sales reached a 65-month peak. Tourist numbers dropped .5 due to a drop in numbers of Chinese tourists but the Ministry of Tourism and Sports indicated that arrivals from Taiwan, Singapore, and the United States grew during the past month.

A Royal Decree has been published which lifts the ban on the issuance of new licenses for entertainment businesses under the license “sathan borikan” which includes pubs and bars, in Kanchanaburi, Si Sa Ket, Nong Bua Lam Phu and Ayutthaya. However 22 provinces still have the ban in effect; Kamphaeng Phet, Chai Nat, Chumphon, Nakhon Nayok, Nonthaburi, Nan, Pathum Thani, Pattani, Phayao, Phangnga, Phichit, Phetchaburi, Yasothon, Ranong, Sakon Nakhon, Satun, Nong Khai, Ang Thong, Uthai Thani, Sing Buri, Sukhothai, and Suphan Buri. Entertainment businesses operating legally before Friday’s decree and entertainment venues operating in hotels regulated under the law on hotels are exempt.

Thai Immigration has begun taking applications for Permanent Residency – applications will be accepted until December 28, 2018. Applications are limited to 100 people per nationality, those countries with several states, such as the United Kingdom, are considered as one country. Sunbelt Asia legal advisors can assist you in collecting all required documents showing your contribution to society, ensure all your Thai-language company documents are correct and complete and handle translation of documents. The process is rather complex so if you are interested in obtaining Permanent Residency contact us now to get the process started;

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.

Quick sale sought for restaurant near Terminal 21

The owner of this restaurant is seeking a quick sale as he doesn’t have the time to manage the business. Located 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: 2.6 million baht

Chic bistro in Siam Paragon Mall

The owner of this chic new French-apartment style bistro in Siam Paragon is seeking a quick sale as he is moving overseas. Although the restaurant opened only this year it has already garnered great reviews for delicious food and a charming atmosphere. Siam Paragon is one of the top luxury shopping malls in Bangkok and known for a variety of great restaurants and is often a destination just for meals. It’s great for those seeking to avoid the traffic but still want delicious home-style French food.

There are 12 staff with a total monthly payroll of 191,800 baht, rent on the 132 sqm space is 435,1000 baht a month while sales in the first six months have already reached 7.8 million baht.

ASKING PRICE: 16 million baht

New price on Thong Lor hostel

Updated with a new lower price, this chic and modern hostel in the popular Thong Lor neighborhood has five dorm rooms and two VIP bedrooms with en suite bathrooms, for a total of 41 beds.

The business also has a bar and restaurant on the ground floor and has earned good reviews on Trip Advisor and booking sites.

The hostel has a three-year lease and a monthly rent of 84,000 baht. Sales reach around 2.5 million baht a year with profits at about half a million. There are five staff members with a total monthly payroll of 40,000 baht. The owner invested more than 9 million baht in fitting out the building but is looking to sell quickly as he has another business to work on.

ASKING PRICE: 3.5 million baht

Kanchanaburi travel agency includes TAT license & shophouse

The owner of this long established Kanchanaburi travel agency is retiring and seeks a quick sale. The business handles inbound tours to this popular province, a destination not just for foreigners but Thais as well. Holding the valuable TAT license, the business is turnkey for the new owner. The sale includes the shophouse with the business. The building is 320 sqm and the buyer will be owning a chanote title property.

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

New asking price for thriving transportation business

Updated to a new price of only 48 million baht for this thriving transportation business, the owner is retiring soon and keen to sell. This profitable transportation business has earned a good reputation in its 48 years of doing business in Khon Kaen, the company has also expanded with two branches in Bangkok.

The business has many repeat customers and excellent word of mouth due to its long standing role in the north East. A great team of 60 dedicated staff. The company has 17 trucks for delivery and they are included in the sale.

The business saw 36 million baht in revenues last year with a profit of 13 million baht. The owner is retiring and so wishes to sell the business

ASKING PRICE: 48 million baht

Newly renovated Pattaya Hotel on 2nd road with new price drop

Updated with a new lower price, only 5 million baht for this long-running hotel and restaurant that was fully renovated just this year for a new, modern look.

Located on Pattaya 2nd road, the hotel now has a 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

Pattaya furniture factory and showoom with chanote land

Included in the sale of this high-end furniture factory in Pattaya is the factory and chanote title land on the outskirts and a showroom in downtown Pattaya. This business 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 full – service interior design solutions 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

Pattaya hotel near Walking Street for less than market value

The owner has lowered the price on this modern hotel to less than market value as he is leaving the country soon and is seeking a fast sale. Market value is set at 23 million baht and he is looking for 19.5 million baht, a serious deal for a hotel that 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.

ASKING PRICE: 19.5 million baht

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