Sunbelt Asia Weekly Column
11 October 2019
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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.
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Non-imm O-A applicants will need health insurance
Retirees obtaining the non-Immigrant O-A visa overseas will now be required to obtain health insurance valid for the period of their stay in the country. The new policy, which is reported to take effect on October 31 according to the Deputy Health Minister, will only affect those foreigners applying for the long-stay O-A visa overseas. New applicants and those re-applying for new ones overseas will be required to health insurance that covers not less than 40,000 baht for outpatient and 400,000 baht for inpatient medical fees. Need visa advice? Give us a call (+66) 02-662-7004.
Alipay shows Thailand second for number of transactions during Golden Week
Alipay, the mobile payment platform used widely by mainland Chinese travelers, reported that Thailand came in second in number of Alipay transactions during Golden Week the week of October 1 -7. Japan came in first followed by Thailand. Total transaction volume rose 1.2 times from the previous year while average spending per person rose 1.22 times compared to the previous year. Top locations for use of the payment system were shopping malls, duty free shops and convenience stores. Spending patterns showed that Chinese tourists were showing a growing interest in experiences with sales of durian experience packages up 60 percent from the previous year.
New measures approved for tourists including free re-entry visas and new measures on TM30
The economic Cabinet approved a new round of measures to attract tourists to the country including free re-entry visas for foreign tourists who visit neighboring countries by land, increased value-added tax (VAT) refund agents, more downtown VAT refund venues and VAT refunds in cash on the spot. Additionally, companies who organize seminars in the country will be allowed claim up to deductions of up to two times expenses. The government also plans to introduce a new measure to make it easier for the 150,000 expatriates in the country to travel nationwide without reporting the TM30. The government has already announced plans to scrap the TM6 arrival/departure card and introduce a new mobile app for TM30 reporting.
Fine Dining restaurant near Phrompong BTS
Just 5 minutes away from the busy BTS station Phrom Pong (Emporium and Em Quartier), this jewel of a restaurant is a stunning example of a fine Thai dining establishment top to toe in gorgeous Thai traditional splendor mixing beautiful Thai sculpture and paintings all of which are done tastefully and exquisitely.
Set over 4 floors with approx. 350 square meters there is room to accommodate over 120 covers and that is only using the first three floors!
Including all inventory and décor this is a walk in business ready for someone to take control and run from day one. With a loyal team of dedicated workers this restaurant runs smoothly offering delicate and tasty traditional Thai cuisines but that doesnt stop a new owner from offering Thai Fusion dishes to augment the menu.
The company is sold as a whole including the company name, brand, website, all fixtures and fittings and the name outside. They also include all the necessary licenses including an alcohol license. This kind of example is easily worth 6,000,000 Baht but the owner would like to concentrate on their other businesses and would like a quick sale so are asking for only 4,000,000 baht
ASKING PRICE: 4 million baht
(BKK15920)
Nail and eyelash salon near large condos
This good looking nail and eyelash salon would possibly suit a Thai as a sole trader, one that perhaps is looking for a nice nail salon in a nice location but for a good price.
With mainly Chinese shop fronts this business has been busy due to upmarket condos nearby which are improving the area as more are built. Also offering Manicures, pedicures and acrylics this business also has the scope to offer waxing as the there is a large unused 1st floor space.
Comprising of a modern nail salon a small kitchenette and toilet on the first floor with toilets located on all three floors the 3rd floor is currently used to accommodate staff. With CCTV, a 10 day hard drive back up that also can be viewed online and internet access the ground floor salon also boasts air conditioning with a washing machine on the first floor.
ASKING PRICE: 820,000 baht
(BKK15915)
Lease and assets sale of Pattaya Walking Street bar
Located in a top Walking Street location in Pattaya, this A Go Go bar is currently closed as the owner has no time to take care of the business. But the space is good with two storeys and a long 3 + 3 year lease.
Rent on the space is 100,000 baht a month. This is a great opportunity for someone to walk into the fully appointed premises and start fresh.
ASKING PRICE: 7 million baht
(BKK15882)
Bar and restaurant on busy Chaweng nightlife street
Located on the hottest nightlife street in Samui on Chaweng Beach this bar and grill is fully equipped with a fully fitted out kitchen, full wine storage area, a ground floor bar and another bar on the third floor with a full DJ booth hanging off the wall with full sound and music equipment. The fourth floor is currently a storage area but could easily be converted into a VIP lounge.
There are also offices and a store room as well as the IT center with all controls. The business is a well-known and popular bar and the sale includes the lease in an amazing location in the heart of Chaweng as well as the brand name and Thai company if the buyer requires purchasing a company. There is no debt on the company and it is only registered to this business.
All fixtures, fittings, and equipment is included in the sale including top quality stainless kitchen and equipment, all DJ equipment and lighting, and the huge wine cellar holding over 300 bottles of wine. The bar is a huge draw with the younger crowds, there is also a small room next to the ground floor bar which is part of the sale, this can be used as a store; previously the space was rented out for 20,000 baht a month.
ASKING PRICE: 1.2 million USD or 39 Million baht
(BKK15844)
Large 24 hour restaurant in busy soi
Air Conditioned 24 hour restaurant selling various Thai and western style food in a popular location on a great corner plot with seating for over 50 guests and a scalable outdoor space this could easily host over 70.
Currently selling halal food we believe a change of owner could later include the selling of liquor as there are 10 hotels down the Soi catering for mainly Chinese clientele who often require an alcoholic beverages. Run in 2 shifts 8am 8pm then 8pm 8am the staff have this operating for 24 hours which becomes popular early hours as its the only place open at these times.
With 4 CCTV cameras with a hard drive to back up recorded video for a month, the current owners have never had to worry about keeping an eye on their business. Inventory also includes Coca cola fridge, cash machine ceiling fans and with a decent kitchen which has a triple glass fridge, 4 gas burners a microwave and a large freezer as well as food preparation area and washing up facilities, this is only one of the areas that this restaurant can cook.
The outside lends itself to street style fast food with a salad counter, a corn counter, a BBQ counter, chicken & Rice counter and a noodle bar. Offering as many as 8 different burners to cater for the different styles of cuisine available outside for those in a rush. 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 & service.
ASKING PRICE: 999,999 baht
(BKK15918)
Kanchanaburi Resort near river
This lovely resort is fully licensed and within walking distance of the famed River Khwai and 1.2 km from the famed Bridge, a major tourist destination not only for visitors but for local Thais as well. With a gorgeous garden and pool there are 15 bungalows, 3 family bungalows, 5 deluxe bungalows and 6 standard bungalows. Every bungalow has a private bathroom, mini bar, wardrobe, safe box, tea/coffee making set, free WiFi and comes fully air-conditioned. The standard and deluxe bungalows overlook the garden and the family bungalows are behind the swimming pool. The resort also books tours, and offers motorbike and bicycle rentals. There is a charming restaurant as well as a large 2 bed room house complete with full western kitchen.
The resort is one of the top-ranking in Trip Advisor and has an excellent feedback score on Booking.com. The resort occupancy this year been better and now up to 60% and July and August 70% and now booking till February next year. . With the right PR and marketing this resort could see much higher occupancy due to its high ratings. There are 9 full time employees and total monthly wages of 100,000 baht. The hotel has a lease contract to 2020, and pays rent of 240,000 baht every 6 months. Annual sales reach 5-6 million with profits of 1.5 to 3 million. The owner is retiring and believes the business could grow with a dynamic new owner.
NEW ASKING PRICE: 3.9 million baht
(BKK15864)
Phangan hostel in central location
Set in the heart of Ban Tai on Koh Phangan this new 22 bed hostel is convenient to the Full Moon Party as well as the other parties held on the island. The hostel also has a popular restaurant and bar serving Western and Thai food that seats 26 people. The business also offers motorbikes for rent and those are included in the sale. The rent on this 200 sqm building is only 16,000 baht a month.
The Full Moon Party draws thousands of visitors to the island every single month, while the neighborhood hosts the popular Black Moon Party as well as a few others. This is a great deal for someone who wants to get in on the ground floor of a backpacker business on Koh Phangan.
ASKING PRICE: 2.5 million baht
(BKK15871)
Popular Phuket town restaurant
This well-reviewed vegan restaurant is set in the heart of Old Town Phuket and has earned rave reviews on vegetarian and vegan websites from satisfied guests. The restaurant serves quality western food from a vegan only kitchen.Established in 2018 the business has earned a high profit in its first year as sales reached 4 million baht. Its rare for a restaurant to do well in the first year but this restaurant serves a growing niche market that is dedicated to eating vegan.
The charming restaurant is 200 sqm and rent is 18,000 baht on a 3+3 year lease. There are six full time staff with a total monthly payroll of 80,000 baht. The owner is moving overseas and so is forced to sell the restaurant. This is a great business for someone who wants to walk into an established business on Phuket.
ASKING PRICE: 3 million baht
(BKK15910)
