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Editorial

CONTENTS The Green Park Jomtien

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Healthy & Safe Homes Contract To Buy A Condominium Unit What To Look Out For Pattaya - The Paradise Location Setting up a Business in Thailand

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Property News

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Experts say that the prospects for economies and financial markets are bright, as we have been seeing continuous improvement over the last few weeks. The key to this is the economic upturn, coupled with low inflation. At this time Thailand and Pattaya have started offering good value projects with emphasis on quality. In today’s financial climate, investors need to draw a sharp distinction between high and low quality with low risk. This will demand greater selectivity when choosing your investments. Read this issue and find out which are the quality projects with great value, which match your investment objects.

Der Immobilienmarkt bietet gute Preis/Leistungsverhältniss, aber Sie müssen selektiv sein, um das beste Projekt, welches mit Ihrem Investitionsziele konform ist. Zu wewerbenAusgabe, gist ihnen wehr das um mehr Informationen und Projekte zu finden. Рынок недвижимости предлагает стоящие проекты, но вы должны быть избирательными, чтобы найти лучший проект, который соответствует вашим целям инвестиций. Читайте это издании, чтобы найти больше информации и проектов.

12 Publisher Sudaporn Changthong

‫ ﻭﻟﻛﻥ ﻋﻠﻳﻙ ﺃﻥ‬، ‫ﺍﻟﺳﻭﻕ ﺍﻟﻌﻘﺎﺭﻱ ﻳﻘﺩﻳﻡ ﺍﻵﻥ ﻣﺷﺎﺭﻳﻊ ﺫﺍﺕ ﻗﻳﻣﺔ ﺟﻳﺩﺓ‬ ‫ﺗﻛﻭﻥ ﺍﻧﺗﻘﺎﺋﻲ ﻟﻠﻌﺛﻭﺭ ﻋﻠﻰ ﺃﻓﺿﻝ ﺍﻟﻣﺷﺎﺭﻳﻊ ﺍﻟﺗﻲ ﺗﺗﻭﺍﻓﻕ ﻣﻊ ﺃﻫﺩﺍﻑ‬ .‫ ﺇﻗﺭﺃ ﻓﻲ ﻫﺫﺍ ﺍﻟﻌﺩﺩ ﻟﺗﺟﺩ ﻣﻌﻠﻭﻣﺎﺕ ﻭﻣﺷﺎﺭﻳﻊ ﺃﻛﺛﺭ‬.‫ﺇﺳﺗﺛﻣﺎﺭﻙ‬

ตลาดอสังหารมิ ทรัพยมีการเสนอโครงการทีดๆี หลายแหง แตข้ ึน ิ ่ ีดที ่ ีสุด และตรงตามวัตถุประสงคของท อยูกับทานเองท่ ีจะเลอื กส่ งท านเพ่ ือการลงทุนท่ ีคุมคา


Healthy & Safe

Homes

H

ere are some ideas for you to think about and implement for your healthy and save living. 1. Use safe, non-toxic cleaners throughout the home. This includes bathrooms, kitchens and floors. 2. Avoid synthetic floor coverings, furniture and clothing This one is harder to do, as it is difficult sometimes to find these

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things at reasonable prices. But it is easy to find organic cotton mattresses, for example, or organic cotton clothes.

to breathe. So keep fresh air coming into your house!

3. Open windows

4. Use (volatile organic compound) VOC-Free paints and glues

Some people will tell you NOT to do this as it lets in dirty air from outside, but nothing could be worse than trapping any bad air inside the house and not airing it out. Imagine sitting in a freshly painted room or chemical insect sprayed – you would not be able

These can be found anywhere paint is sold, and the quality is exactly the same as regular old toxic paint. VOC include methane, formaldehyde and acetone. Paint fumes can be a killer, and they off-gas for quite some time after application. www.readrelax.com


5. Your bathroom has a window or fan

Gas and fire could be dangerous or fatal.

Make sure you can open while showering, or at least a fan that pulls the steam out of the room. Wet, humid bathrooms make a good home for mold, which while in small amounts probably won’t hurt you, a build up can be very dangerous.

9. Turn off all electrical equipment when you are not using them. Everything that gets plugged in emits EMF’s (Electromagnetic Fields ) that while not 100% proven to be dangerous to you, why keep things on if you are not using them and take the chance? Besides, you will notice the savings immediately on your electric bill.

6. Keep your home clean and mess-free The more stuff you don’t have floating around, the cleaner your air will be. (read more in the next issue of this publication) 7. Be sure to have your airconditioner and water heaters checked on a regular basis. 8. Make sure you have smoke, CO2 and fire detectors in several places in your house.

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10. Use GFCIs Using a Ground-Fault CircuitInterrupter (GFCI) with electric appliances in wet area is a good way to protect against electrical shock hazards. These CFCI are useful in bathrooms, kitchens, laundry rooms, garden or any area exposed to water. It is very important when you install a Jacuzzi in your home!

11. Install CFL’s Compact Fluorescent Lamp (CFL) bulbs coated in titanium dioxide, which when heated up actually neutralize odors in the house. These odors could be from the litter box, a dirty garage, cigarette or cigar smoke; whatever it is in the air, these bulbs help to get rid of the smell. The light is exactly the same as regular CFL bulbs, and while you are cleaning up the air, you are also lowering your power bill and using less power to light up your house. 12. Buy plants and lots of them. They clean the air and pump oxygen into your house. These are not all the to keep way your home healthy, but it sure is a nice way to start thinking about it!

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Contract To Buy A Condominium Unit

What To Look Out For Question

I expect to buy a condominium unit in two months time and the seller is asking me to sign a Sale Contract now. Before I sign the Contract, what contractual conditions should I look out for? 12

Answer

First of all, this Contract is not a sale of condominium unit (“Condo Unit�) contract, not in the eyes of the Thai civil law. It is a contract whereby the seller promises to sell you the Condo

Unit in two months time and you promise to buy the Condo Unit in two months time, better known as a TO sell and TO buy contract. The Contract will provide for all the binding conditions bewww.readrelax.com


tween the seller and you until the time of ownership title transfer i.e. in two months time. Furthermore, under Thai civil laws, a sale of a condominium unit only takes effect upon payment of full purchase price to the seller and the registration of ownership title transfer by an official of the Land Office. These have not taken place yet. The main contractual conditions which you have to look out for are: (1) The seller agrees to transfer ownership title of the condominium unit to you at a specified date. Otherwise, you have the right to claim for the damages for breach of contract. Also, any deposit money, first installment payment etc. paid towards the purchasing of the Condo Unit must then be returned to you;

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(2) The seller covenants or gives warranty that the Condo Unit shall be transferred to you free and clear of any encumbrances, mortgages or charges; (3) All drawing plans of the Condo Unit, building materials e.g. teakwood for walls in kitchen, brochures on the Condo Unit and other specifications of the Condo Unit are considered a part of the Condo Unit and this is defined in the Contract. (Note: This is now a requirement under the Condominium Act No. 4 B.E. 2551 (2008) Please see my article Contract Protection for Buyers of New Condo Units published in the Pattaya Mail newspaper on August 28, 2009; and (4) The party that is responsible for payment of the transfer fee, income tax, stamp duty or specific business tax. If these are not

specified in the Contract, then the parties to the Contract will have to comply with the provisions under the tax laws i.e. you, the purchaser of the Condo Unit, are only responsible for 50% of the transfer fee. If the seller is a married person and the Condo Unit is marriage property, the seller will have to produce a letter of consent from his/her spouse consenting to the sale of the Condo Unit. Written by David Tan. David is a Lecturer of Business Law at Asian University and author of the book “A Primer of Thai Business Law (Second Edition)�, available online at www.chulabook.com . In Bangkok, the book is available at all Kinokuniya and Asiabooks bookstores. Any questions on condominium unit purchase, sale or development should be e-mailed to Business Legal Advisory Services at: blas.inter@yahoo.com

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a y a t t Pa P

The Paradise Location

attaya, Thailand’s capital of fun, is only just over an hour away from Suvarnabhumi International airport, and forty minutes away from U-Tapao airport which is currently being upgraded to international standards. Pattaya has everything you could possibly want, an amazing nightlife second to none, every cuisine imaginable, kilometers of beaches, an incredible array of fun activities for all ages, an average temperature of 28 degrees, all for prices so cheap that they leave people wondering how it is possible. It is no wonder then that some people come for a holiday and then end up buying a property that they use when they are here on holiday and rent out when back in their country or to live here semi permanently or even full time. For expats, Pattaya has the full package, numerous supermarkets stocking produce from around the world, the largest beachside shopping center in Asia, international schools, friendly local people and a lifestyle that most could only dream about in their home countries. Foreign retirees have been settling in Pattaya for many years and the number is growing all the time as is Pattaya as a whole. Property prices have risen over the years, but still remain extremely affordable especially when compared to other countries and even in other areas of Thailand such as Phuket, Hua Hin and Koh Samui.

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All types of properties are available from studio condominiums to mansions with private pools and maids’ quarters. It is possible to find a house with 4 bedrooms, 4 bathrooms and a private pool within 10 minutes of all Pattaya has to offer for around 100,000 Euros and studio apartments from 20,000 Euros. There are laws prohibiting foreigners from buying land, however foreigners can buy houses and secure the land it is on safely. All real estate agents in Pattaya are aware of the simple procedures to secure a foreigner’s investment. Condominiums can be bought in a foreign name. With the millions of Baby Boomers now retiring all around the world and facing high costs in their home countries, Pattaya’s growth is bound to continue as it has done since the 1960s. It has a big, bright future.

В настоящее время есть большое колличество недвижимости в продаже, в Паттае. Сейчас, вероятно, одно из наилучших времен, чтобы купить недвижимость мечты в главном морском курорте Юго-Восточной Азии прежде, чем цены начнут повышаться снова. Es wird momentan in Pattaya eine Vielfalt an Eigentumserwerb angeboten. Jetzt ist mit hoher www.readrelax.com


Wahrscheinlichkeit die beste Zeit, ein Traumobjekt ihrer Wahl im “South East Asia’s premier beach resort” zu kaufen, bevor die Preise wieder ansteigen. ‫ ﻭ ﻋﻠﻰ ﺍﻻﺭﺟﺢ‬.‫ﺣﺎﻟﻳﺎ ﻳﻭﺟﺩ ﻫﻧﺎﻙ ﺍﻟﻌﺩﻳﺩ ﻣﻥ ﺍﻟﻌﻘﺎﺭﺍﺕ ﻟﻠﺑﻳﻊ ﻓﻲ ﺑﺎﺗﺎﻳﺎ‬ ‫ﻳﻌﺗﺑﺭ ﺍﻵﻥ ﻣﻥ ﺃﻓﺿﻝ ﺍﻷﻭﻗﺎﺕ ﻟﺷﺭﺍء ﻋﻘﺎﺭ ﺍﻟﺣﻠﻡ ﻓﻲ ﺟﻧﻭﺏ ﺷﺭﻕ ﺁﺳﻳﺎ‬

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‫ ﺇﺷﺗﺭﻱ ﺍﻵﻥ ﻗﺑﻝ ﺑﺩء ﺍﻷﺳﻌﺎﺭ ﺑﺎﻹﺭﺗﻔﺎﻉ‬،‫ﻭﻓﻲ ﺃﻓﺿﻝ ﺍﻟﻣﻧﺗﺟﻌﺎﺕ ﺍﻟﺑﺣﺭﻳﻪ‬ .‫ﻣﺭﺓ ﺃﺧﺭﻯ‬

ื ในพัทยา มีอสังหารมิ ทรัพยใหเลอื กซ้ อมากมาย น่ ีอาจเปนเวลาท่ ีเหมาะ สมท่ ีสุดท่ ีคุณจะเลอื กจับจองบานท่ ีสองในเมืองแหงการพักผอนน้ ีเอาไว ใหตัวเอง กอนท่ ีราคามูลคาจะสูงมากข้ ึนไปกวาน้ ีอกี

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Setting up a

Business in Thailand T

he following is an overview of ‘establishing a business in Thailand’.

As in most countries, in Thailand there are three kinds of business organizations: Sole proprietorships, partnerships, and limited companies. The most popular form of business organization among foreign investors is the private limited company. Private limited companies require a minimum of seven promoters and must file a memorandum of association, convene a statutory meeting, register the company, and obtain a company income tax identity card. They 16

must also follow accounting procedures specified in the Civil and Commercial code, the Revenue Code and the Accounts Act. A balance sheet must be prepared once a year and filed with the Department of Revenue and Commercial Registration. In addition, companies are required to withhold income tax from the salary of all regular employees. The Ministry of Industry administers The Factory Act, which governs factory construction and operation, as well as safety and pollution-control requirements. In some cases, factories do not require licenses, in other

instances the requirement is simply to notify officials in advance of start-up, and in some cases licenses are required prior to commencing operations. Licenses are valid for five years, and are renewable. Thailand recognizes three kinds of intellectual property rights: patents, trademarks, and copyrights. The Patent Act protects both inventions and product designs and pharmaceuticals. The Copyright Act protects literary, artistic works, and performance rights, by making it unlawful to reproduce or publish such works withwww.readrelax.com


out the owner’s permission. The Trademark Act governs registration of, and provides protection for, trademarks. The Alien Occupation Law requires all foreigners working in Thailand to obtain a Work Permit prior to starting work in the Kingdom, except when they are applying under the Investment Promotion Law, in which case they have 30 days to apply. Non-Immigrant visas provide the holder with eligibility to apply for a work permit, and allow the holder to work while the work permit application is being considered. To find more information about establishing a business in

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Thailand such as industrial licensing, taxation, patents and trademarks, the cost of doing business in Thailand, and more please see http://www.boi.go.th by the Thailand Board of Investment.

таких, как промышленное лицензирование, налогообложение, патентование и товарные знаки, стоимость ведения бизнеса в Таиланде и т.д.,зайдите на сайт: http://www.boi.go.th.

Sie wollen ein Unternehmen in Thailand gründen und suchen weitere Infos über IndustrieLizenzen, Besteuerung, Patente, Trademarks und Geschäftskosten? Dann sollten Sie sich unbedingt die folgende Website ansehen: http://www.boi.go.th des Thailand Board of Investment!

For å finne informasjon bedriftsetablering i Thailand gå til nettsiden til Thailand Board of Investment: http://www.boi.go.th . Her finner du blant annet informasjon om skatteregler, patent og intellektuell eiendomsrett og kostnader.

Для поиска дополнительной информации о создании бизнеса в Таиланде, например

ื ท่ ีเก่ ยวข้ ี องกับการเร่ มิ ต้น ข้อมูลอ่ นๆ ิ ื ทำธุรกจ ในเมองไทยของชาวต่างชาติ สามารถค้นหาได้ท่ ีเวปไซต์ http://www.boi.go.th

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Modus Condominium Showcase Party

Khun Takorn Sakulthiew and Khun Thadsaporn Narmmathep (Ajarn Joob) recently invited the media, friends, interested individuals and VIPs to the ‘Modus Showcase Party’ to present their newest project. The new project, ‘Modus Beachfront Condominium and Al Fresco Resort Hotel’ combines a stylish condominium and luxurious hotel and is located on Wong Amat Beach. The high quality and top design and style are thanks to the developer’s personal expertise and experience as an architect. The showcase was visited by Pattaya Mayor, Itthiphol Kunplome, and many VIPs from Pattaya and Bangkok. The event was a chance to show off the superlative exterior design and outstanding and functional interior design and space management. If you are looking for serene beachfront living, five star quality standards, stylish design and great value investment then Modus is the right project for you!

North Point Update

Through February 2010 construction works at the Northpoint site continued towards completion. The building occupation permit has been secured and incoming mains water and electricity supplies are connected at the site. Phased home owner inspections have continued through February and ownership transfers are underway. Internally apartment fit-out works are continuing up the buildings towards completion. The external flat and textured decorative paint applications are now practically complete and await final top coat only. The lift car fit-out works are now in process at both towers. Tree planting and landscaping works to all remaining areas of the 12-rai site are continuing. The main entrance guard house and site boundary wall construction works are in process. At the car park building roof-top, tennis court mesh boundary fencing installations are progressing. The car park building painting works are now practically complete as are the wire mesh and planter box façade installations.

REFLECTION, Jomtien Beach Pattaya to be the Iconic Landmark of Jomtien Beach Pattaya Major Development PLC is starting its first super luxury condominium project on Jomtien Beach Pattaya, “REFLECTION”. REFLECTION will be located on an 8-Rai land plot fronting Jomtien Beach. Every unit will be able to experience the 180-degree panoramic ocean view. The project consists of 2 towers: the 55-storey Ocean Front tower with 102 units (only 2 units on each floor), and the 42-storey Oceanview tower with 230 units. Since the opening of its sale gallery, the development has attracted many local and foreign buyers alike. For more information or any inquiry, visit www.reflectionpattaya.com or call 66(0) 80 207 1111 - 66(0) 38 233 111 18

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Property Investment Issue 18  

Property Investment by RELAX Journal Pattaya

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