Thai Property Market            

  Lease/ Buy or Sell your Business today:

We can arrange and oversee any business you want to buy or sell. We also assist perspective clients with Partnerships and or Companies and work permits to manage their business in Thailand. We  assist you with advertising your new business and can offer you an excellent advertising special to promote your business if you buy your business in Pattaya or ChiangMai. All our sales have no hidden costs and our Company is a Thai registered company.                                                   

CHIANGMAI: BUSINESSES FOR SALE

   We have businesses in Chiangmai and Bangkok for sale: Check out

www.chiangmairealty.com or

www.bangkokrealty.biz 

REMEMBER TO ASK US IF YOU NEED A WORK PERMIT, LIMITED PARTNERSHIP, VISAS OR  A COMPANY. OUR LAW OFFICE CAN HELP YOU.  EXCELLENT FOREIGNERS HELPLINE no hidden charges & no fees with our help.

see: www.chiangmailaw.com 

 

 

 

BARS & BUYING GUIDE:

Lots of foreigners come to the Land of Smiles thinking their dream is to own a bar. Bars usually have short non renewable leases from around 3 years. With restaurants & non existing empty  properties longer terms can usually be negotiated and you can usually obtain a  renewal (for a fair market rent). Rents in prime locations can be high and with all the investment that will typically be made in converting or renovating a property before it becomes your business, it may be better to purchase rather than rent. That way you never get the problem and uncertainty of lease renewal and if (we hope it won’t) the business should fail, you still have a saleable asset. Most existing businesses you take over are either being sold because the owners cannot make it or the landlord has put up the rent to the point where the present owner must leave. Having just 500,000 baht may buy the bar but it doesn't buy the customers in the off season. You will need an additional 500,000 baht for the wet season & to pay wages etc. Remember too you must be there to work it because the business is cash flow which means work permit. Ask around and do not listen to any Thai suitor who will tell you the good things. A good ploy is someone befriend s you and helps you get a cheap apartment, TV and various other little jobs you find hard to cope with. After about the 4th time they inevitably hit you with a proposition like a Guest House or Bar for 150,000 baht. Do it and you will see how quickly your friend changes especially when you want to recall that loan?? Thais do it to Thais as happened to my neighjbour who exported artificial flowers to the USA. No problem until the 4th time when the importer hit her with a big deal that she couldn't refuse & ended up losing 3m baht. Take heed it happens.

Buying a bar is thus a gamble as 95% do not work. Remember location, location and be serious about the bar life, the bar theme, your target market & your hospitality skills. More than often a foreigner will have a bar in the name of his girlfriend but one can form a limited partnership, obtain a work permit and then conduct business as usual. The most important first step is what theme you are having, how much money for development and how much money have you got for the off season as that is the cruncher.  Chiangmai has over 900 bars & Pattaya last count over 1200 bars--- now try and compete on a 500,000 baht budget--- with rent, power and other costs = taking 250,000 a year plus ? Most cities have beer gardens with up to 20 - 40 bars in them. These normally run at night but the rents can start at 5000 baht a month & one has no control over the company or owner who makes decisions. This happened in the Bar Bier Centre of Chiangmai. The owner decided to get rid of the Muay Thai boxing & install dancing "boys" who actually did nothing to the value of the place. In fact the Thai Bar owners all voted for it and had to pay an additional monthly fee. Take it or leave. Never believe that if you buy a bar there won't be another 5 beside yours in any Centre. For instance the Duck Complex in Pattaya offered phone line & promotions. Sorry no promotions and no phone lines were ever installed. The NEW Peak complex in Chiangmai is another place where stall holders are paying 9000 baht for a 3X 3 sq metre box to sell their wares. Upstairs by the climbing wall are 2 food restaurants. Again the owners said there would be no other food places in the front and below when they signed up. There are now 4 such places below 2 months after they signed there agreements-- these owners are Thai. You are warned.

Remember an actual Sale & Purchase agreement is written in Thai. It contains names and addresses of the parties & subject property, date and transfer price (declared paid in full) filled out by government officials at  time of transfer. With sale registration (in a company name--3 names must be submitted which takes 3 days), you will need the companies, memorandum, articles of association, affidavit showing current authorized directors, and the shareholders list - original certified copies not over 30 days old from the commercial department. (Individual foreign lessors would just need copies of their passports) The presence of the authorized signatories of the company (together with certified copies of their identity and household registration cards) or a valid power of attorney signed by the directors (with certified signed copies as above) to appoint another person to represent the company at the land office. A duly signed minutes of a meeting of the Board of Directors shows the company is purchasing the said land. Ask your lawyer but if you need one then ask us as we can help you. Its a lot smoother to use a Thai.

Don't listen to bar talk. Remember too they have Lotus Superstores who have set prices on their goods. If using a Thai contractor ask him to get you a price for supplies then check the superstores & you'll know if you've paid too much. Be careful using Thai contractors and watch out you don't give more money than what you are receiving. Get a quote for work then check on the supply costs. The head person you use may be getting a kick back on most things so they could also slow the work down as they know it will stop once your've finished. Try and get local knowledge from clubs and if you play golf join a school so you get good info. Don't listen to pub talk--- they are normally the ones with nothing but listen to those who have good businesses which are easy to spot. Normally they will give you invaluable tips. Most of all take your time but my motto is "look, learn and listen".

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N.B. Complete law services via our NEW Thai Lawyer partner . (re: Alien Business Law: NEC Announcement 281 Cat A prohibited to foreigners). However under the terms of our  Company License Asia Trading Post (Co Ltd)  provide : 1. Cat 34 lawyer services  &2.  Cat 35.consultancy services.

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