May 02, 2008
VISAS & PERMITS REQUIRE PROFESSIONALISM - Getting It Right The First Time Is Important
If you are lucky enough to meet an expat who has lived in Thailand for many decades, take the time to get to know them, as there is much to be learned from listening to their advice. I was fortunate, when I chose to reside in a guest house with such a gentleman when I first arrived in the Kingdom many years ago, and the advice that he gave me on day-to-day living saved me many a headache.
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April 23, 2008
2008 OUTLOOK Tax incentives lift everyone's mood
Amid concerns about higher costs of construction materials, the tax incentives announced in early March have come as good news to the property market this year. Analysts expect it to improve significantly from 2007, a sluggish year due to lower confidence. The Finance Ministry led by minister Surapong Suebwonglee has essentially revived the tax incentives that proved successful in spurring the property market in 2003 when they were used by former prime minister Thaksin Shinawatra.
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March 20, 2008
Considering Casino Gambling
The recent announcements by PM Samak and several other high-ranking government officials that the Administration will push for the legalization of casino gambling in tourist areas like Pattaya, Phuket and several others has put this issue back on the front burner of public discussion. It really should have been anticipated that the PPP would raise the legalization of gambling as a means of raising revenues now going to illegal games and to other ASEAN countries. Former PM Thaksin Shinowatra had backed legalizing casinos before he was overthrown in the September, 2006 coup, and the current PM has spoken out in favor of legal gaming several times over the course of his career, dating back some 30 years.
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February 25, 2008
Chasing Lost Dignity
Nothing can truly compensate an innocent man for ten years behind bars, but the desire to regain his good name has given a wrongfully imprisoned native of Nakhon Ratchasima province the strength to take his fight to the limits of he criminal justice system. Kowit (not his real name) served almost 10 years in prison for a crime he always insisted he did not commit. Released in 2006, he set out to clear his name.
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February 24, 2008
THE POINTING ROOM
It is called Hong Chi, or the Pointing Room in English. Readers may have never heard of it. It is not in law textbooks, nor does it appear in the judges' qualifying exam. But it does exist at every criminal court in the country - and it is off-limits to the public and lawyers of any type.
This is where the accused first face the judiciary. Those without bail and lawyers have a particularly difficult time. They are asked to stand in front of two judges and plead guilty or not-guilty to a set of accusations they have only heard just a couple of hours before.
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February 15, 2008
Your home’s your own
With the increasing availability of high quality vacation and primary homes in paradise locations such as Koh Samui, Sattahip, Pattaya, and Koh Chang, many people from Western countries are considering purchasing a second home in Thailand. While it’s fairly easy to decide on a location and the type of property you like, the specific risks of acquiring land and property in Thailand may be very different from your home country.
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February 15, 2008
Who needs a last will and testament
The short answer is “You do!”. So does your Thai loved one. Your family and loved ones back in your native country also need for you to have a Thai last will and testament – and one back there, as well.
Chances are if you’re living here (or contemplating living here) you’ll own a home (house or condo); a car or motorbike; very possibly a business;
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February 15, 2008
Start Planning for the Sale of Your Business - Today
If you own a business, sooner or later you are going to exit that business. The time to start thinking about that eventuality and discussing it with a business advisor is now – whenever you bought the business. It’s never too early to prepare both the business and yourself for your eventual departure.
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February 15, 2008
So You Want to Buy A Retail Business
If you’re thinking about buying a retail business, there is a lot that you must consider outside of the basic nuts and bolts of the business. There’s an old saying that retail success hinges on three factors: "location, location, location." It’s an old saying because, to a great extent, it’s true - but it’s not always the case. When looking at retail businesses, your #1 goal must be to determine what “drives” the customers to the store.
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February 15, 2008
Selling a Business in Thailand
So, you’re thinking about selling your business in Thailand. It’s an exciting and important decision. You’ve invested a substantial amount of hard work, time, sacrifice, risk, and money in creating a source of wealth for you and your family. We’ve been involved in helping literally hundreds of buyers and sellers navigate their way to successful business transfers over the past decade. We can help you, too.
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February 15, 2008
How to Sell a Troubled Business
OK, let’s confront our worst nightmares: You awaken one morning to the realization that the business you've poured so much time, energy and thought into; the dream that was once the preoccupation of your every waking moment…has turned sour. Gone south. What do you do?
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February 15, 2008
How to Select a Remodeling Contractor
The U.S. National Association of the Remodeling Industry publishes a very helpful booklet on How to Select a Remodeling Contractor. Some of the their recommendations, i.e., make sure you see the contractor’s State license, don’t apply in Thailand, so we’ve gone through their recommendations and distilled them down to apply in the Land of Smiles.
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February 15, 2008
Getting The Best Price For Your Home
t’s All About Marketing
Whether you are moving into a larger home or having to relocate to another place because of a job transfer, you have decided to sell your residence. Naturally, you want to get the best price possible for it. You can do a great deal to help make that happen by following these five rules.
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February 15, 2008
Financing a Property Acquisition in Thailand
Most foreigners interested in buying property in Thailand – especially if they are relatively new to the country - will start off assuming that they can finance the purchase through some form of bank financing or mortgage loan. After all, that’s most often the way that properties are acquired in Western countries, whether or not the purchaser has sufficient cash on hand to pay the purchase price. Tying up so much capital would be seen as imprudent by most Western investors.
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February 15, 2008
Exclusive, Sole Agent & Open Listings
What do those terms mean?
1. An Exclusive Listing is one in which only the Listing Broker has the right to offer a property or business for sale. If the property or business covered by an Exclusive Listing Agreement is sold, the Listing Broker is owed a commission by the seller regardless of who actually made the sale, including the owner.
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February 15, 2008
Due Diligence
Due diligence is probably the most critical stage in the buying process. Many prospective buyers incorrectly identify this period as strictly a financial review, but it goes far beyond that. Due diligence encompasses a far greater project - the complete investigation and review of the business.
One of the keys to buying a business that’s good for you comes from your ability to learn the intimate details of the business - to identify its strengths and weaknesses, pluses and minuses, growth opportunities and areas of concerns.
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February 15, 2008
Do You Need a Business Broker
One of the most frequent questions asked by prospective investors, and by both buyers and sellers of businesses, is whether they should hire a business broker. The best answer is probably: “Yes…but.” The "but" is that you should "use" one, not just "hire" one. A business broker can have a very specific and important role in the buying process. The “but” is related to understanding what that role is.
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February 15, 2008
Company Registration in Thailand
1. Registration: Reservation of name is the first item to attend to in company formation and can be done online. The name of the company must not be identical to the name of any existing company , or so nearly resemble the name of any existing company as to lead to confusion. It is recommended that applicants reserve three names, ranked by priority of interest, to maximize chances of success.
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February 15, 2008
Calculating the Value of a Business
Accurately valuing a small business is often the most challenging part of the process for prospective business buyers. However, it doesn’t have to be an overwhelming or difficult undertaking. Just remember that valuation is an art, not a science.
Naturally, a buyer’s valuation is usually quite different from what the seller believes their business is worth. Buyers want to buy the business for as little as possible. Sellers usually factor their years of hard work into their calculation. And, undoubtedly there were many years of hard work and worries. However, that’s not how you determine the value of the business.
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February 15, 2008
Buying A Bar or Restaurant
f you've spent any time at all looking at bar/restaurant for-sale listings in and around Pattaya, you’ve probably noticed that there are more of these listed than any other single type of business. Is this a good or bad thing?
There are two ways to approach the question: the optimist will say that there's a great market when the time comes to sell; the pessimist will want to know why all of these people are selling their business. Actually, they're both right.
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February 15, 2008
Attorneys And Attorney-Client Privilege In Thailand
Thailand, with its King as Head of State, bases its judicial and legal system on the democratic nation’s Constitution, which recognizes four courts: the Constitutional Court, the Courts of Justice, the Administrative Court, and the Military Court.
The Courts of Justice are classified into three levels: the Courts of First Instance, the Courts of Appeal, and the Dika Court (Thailand’s Supreme Court).
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February 15, 2008
20 Steps to Successfully Acquiring Your Own Business
1. JoinzThe Evans Team
We’ll advise and assist you through the entire process. Help you find an appropriate business. Help you determine your budget for the acquisition. Help you evaluate the business to determine a mutually beneficial offer. Help you negotiate the final price and terms. Help you with all the legal and tax documentation.
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February 15, 2008
12 Common Mistakes to Avoid When Buying or Selling a Business
1. Don’t Concentrate on Disagreements
It’s easy in a competitive situation (which to some extent buying and selling is) to put the emphasis on problems. Approaching the process in that way, though, can build up distrust and resentment that can make it harder and harder to ultimately create a “win/win” solution. Neither buyer nor seller will get everything they want. But a positive approach that keeps an eye on the “big picture” is more likely to create an agreement that both find attractive than one that bogs down over every minor imperfection.
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February 15, 2008
10 Pitfalls to Avoid in Purchasing Thai Property
Purchasing property in Thailand, like purchasing property anywhere and most especially in a new country with new laws and practices, is an experience that should be undertaken only with a great deal of advance planning and care. Many foreigners come to Thailand to purchase property for various reasons: for their retirement; as a second home; or for investment purposes. Purchasing a second home is gaining popularity in many places in the world, and Thailand is becoming a very popular destination of choice as a location for a second home. Welcome to Thailand, and best wishes in your search for a home or investment property in our beautiful country. Here are some of the mistakes we hope you’ll avoid as you consider buying property here.
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January 11, 2008
Buying a Business in Thailand
Welcome.
So, you’re thinking about buying a business in Thailand. It’s an exciting and important decision. You’re investing a substantial amount of the savings you’ve created through time, risk, sacrifice, and hard work, and you need to make sure that the investment you’ll make is sound and prudent. Even more, you’ll want to make sure that your decision reflects the decisions you’ve made about the kind of investment you’re looking for – one that generates income, or one that maximizes security, or one that anticipates asset appreciation.
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October 01, 2007
Visa Primer
First and extremely important:
Visa regulations are subject to change at any time and with little or no notice by the Thai Ministry of Immigration. Though these are usually minor changes, regulations are not applied evenly.
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October 01, 2007
Update on Visa Regulations
The foreign community is a bit
stirred up by the recent spate of announcements regarding new and tougher rules
for visa-free entry into Thailand, and for long-term residence here. These have
been widely reported in the local press and on various web-boards, notably
including www.thaivisa.com .
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