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Tuesday, 18 Jun 2013

Archive for the ‘Thailand’ Category

Thai-Based Electronics Firm Relocating Here With Initial $100-M Investment

Monday, April 23rd, 2012

Thai-Based Electronics Firm Relocating Here With Initial $100-M Investment
By BERNIE CAHILES-MAGKILAT
April 18, 2012, 4:51pm
MANILA, Philippines — A Thai-based multinational electronics firm is relocating its operations into the country bringing in initial investment of $100 million for the production of integrated circuits and to employ 3,000 people.

“They were affected by the Thai flooding and have decided to move here,” said an official, who identified Trade and Industry Undersecretary Cristino L. Panlilio as having the one who arranged for the entry of this investor.

The Thai-based MNC will particularly assemble computer motherboards. The company is owned by various Asian interests including, Malaysian, Taiwanese and Singaporean.

The company has already decided to register with the Philippine Economic Zone Authority (PEZA) to locate in one of the agency’s economic zones.

Electronics is the country’s biggest export. Last year, the Philippine electronics industry accounted for more than $ 24 billion of exports or more than half of the total Philippine exports.

Industry investments also hit $2.4 billion and direct employment of 530,000 engineers, technicians and operators.

Based on a study, for every one direct jobs, there are 7 jobs created, hence more than 4 million Filipinos are benefiting from this industry. Electronics is the biggest export industry of the country.

Pattaya Thailand named ‘Golf Destination of the Year’

Friday, December 2nd, 2011

 

Pattaya, the Thai Resort has been recently named Golf Destination of the Year 2012 for Australasia and Asia. The area was faced with stiff competition from Malaysia, Vietnam, New Zealand and other regions in Thailand, including Hua Hin, Pattaya and Phuket regions before winning the award, voted for by over 400 tour operators, all members of the International Association of Golf Tour Operators (IAGTO).

nt realy condos for sale in pattaya thailand

The area will have more likely secured a higher profile in a country already well known for the quality of its golfing. It currently stands with Spain and the USA at the top of the pile in the world for such destinations, ahead of both developing countries of Portugal and Turkey.

The area’s ‘good management, great service and value for money , and most importantly, that the local agents and tourist board were particularly supportive both to our members and of course their clients,’ were termed by Peter Walton President and Chief Executive of IGATO as the reason for it winning the coveted award.

Pattaya hosts the Pattaya Open and the Honda LPGA Open and the fact it has perfect weather conditions for golf all year round, keeping courses in perfect conditions 365days of the year means it is the best way to keep tourists smiling. The area is easily gotten to from the city of Bangkok and lies only 147 Kilometres away. It is also Thailand’s premier beach resort, meaning people can enjoy the benefits of both golf and the sea. It is also home to 70,000 hotel rooms, fine dining, a great night life and its own international airport.

nt realty real estate agent in pattaya thailand

The areas strength comes in the variety of golf courses on offer, many designed by the greats of the game, from of Jack Nicklaus, Pete Dye to Gary Player. These courses offer challenging engaging courses that are versatile and as suitable for the best golfers as they are for the average golfer. Throw in the mix of sunshine and the areas penchant for great service and you have a great trip on offer.

IAGTO (International Association of Golf Tour Operators) has 1,700 members in 94 countries and its members are responsible for 80% of golf packages sold worldwide. In Asia, IAGTO has 209 tour operators selling golf in the region in 43 originating countries.

If you are a golfing fan and fancy a change of sceanery, now is the perfect place to find a property or great condos for sale in Pattaya. The areas golf choices only back up a quality investment in Real  Estate.

Nt Realty are the longest established Real Estate Agent in Pattaya with 28 years in the area. Get in touch today for help in finding your dream home.

Thailand at the Top of Expat Destinations

Monday, October 17th, 2011

 

A preview of HSBC’s2011 Expat Explorer survey, set for release in November on Expats, puts Thailand at the forefront of all expat destinations.

The country manages to sit at the head of the HSBC Expat Explorer survey overall, and when it is compared throughout the world for economic and lifestyle factors it comes in at second and third for each.

The survey takes into account information from 3,385 expats over more than 100 countries in the poll, which is now in its fourth year.

HSBC’s Expat Explorer suggested expats were quite upbeat about their individual country’s fiscal situation, even in the face of economic turmoil and civil and political unrest throughout many areas of the world.
property for sale in pattaya

 

 

 

 

 

 

 

 

 

However, expats positive financial outlook had strengthened with 63% claiming they had more disposable income than in 2010, when 56% agreed. Another bright spot was the fall in the number of expats who saw language as a problem in their chosen country – only 27% felt communication was a problem.

Expats also reported being less lonely than in 2010, with 34% as opposed to 32% saying they felt this way and missed family and friends.

One notable negative change did however was in the amount of expats who wished to stay in their country – this had fallen from 87% to 63% since 2010.

HSBC included seven new countries in the survey, adding Turkey, New Zealand, Brazil, Italy, Egypt, Vietnam and Japan to the 31 countries it covers in all.

Expats flood to Thailand for the sun, the relaxed lifestyle and the large amount of good value property for sale, especially in Pattaya. 

How to set up a company to buy property in Thailand

Saturday, September 17th, 2011

Due to Thailand’s far from relaxed laws on buying property after the financial crash of the mid 1990s, there are only a limited number of ways to take advantage of the wealth of property for sale in Thailand. One of these is to set up a company in Thailand and then purchase the property. So, how is this done and what are the costs, issues and hassles involved?

 

One way to buy land in Thailand is to become the principal investor in a Thai export orientated business that is Board of Investment approves. This allows you to own up to 1600m2 of land. You can also own the same amount of land with investment of 40m baht for a minimum number of years or obtain Thai Residency.

 

A simpler and less costly way in Thailand that allows you to own land is to create a Thai company . To do this you will need three shareholders, you are inclusive. Some older versions of this have eight shareholders. In this scenario the buyer (now director) is the sole signatory for all things to do with the business. The director then gets documentation from a solicitor which gives them 100 per cent control of the company. There is a small tax payment each year, but the land is now owned by you but registered in a Thai Company name.

 

In Thailand transfer fees or land registration is 2 per cent of the total cost of the land purchased. Stamp duty is calculated at 0.5 per cent of the assessed worth or the sale price – whichever is higher is what you pay. A specific business tax is also calculated in the same way. This is assessed at 3.3 per cent of the highest value .

 

Buying a condo in Thailand can also be done in a Thai Company name, as explained above. It is also possible to purchase up to 49 per cent of the residential area in a condo block in a foreign name.. All that is needed is proof that the money used for purchasing originated as foreign currency and came from abroad. This is done as the receiving bank issues a Tor Tor 3, which will be required at the land office at time of transfer of ownership.

 

It is also very wise to appoint a lawyer or use a reputable agent to go through all these dealings, especially as purchasing property in Thailand can have its issues, especially if you purchase in the aforementioned company manner.

 

When you do find the perfect property for sale make sure you get a trusted solicitor or use an establishes agent who can read all the Thai and understand all the legal connotations of the contract as if you don’t you may end up with some serious issues. Remember that you are putting your trust in strangers to an extent and you should never purchase a property without the adequate amount of legal advice. Following the sensible and safe route is the best way and offers you the best way and form of protection of being hurt financially.

 

NT Realty are the longest established Real Estate Agent in Pattaya Thailand. We have hundreds of properties and condos for sale and rent. Please get in touch and let us help you find your dream home.

 

Buying a Home in Thailand: What you Need to Know

Monday, August 22nd, 2011

Thailand is a paradise; there is no doubt about that. The country is also moving away from being a backpacker’s haven to a more luxurious destination with 5 star resorts and all the treatments that go with them. This has led to large interest in the property sector in this wonderful country from people wishing to take advantage of the property and condos for sale and purchase a holiday home or even move there.

 

Thai property prices are much lower than that of the UK and so offer potential buyers the chance to not only live in a beautiful part of the world but also get excellent value for their money and a better quality of life. Property for sale in Pattaya offers much of the above as well as the chance to live with all the amenities of a city at hand and so is a great place for investment as well as a life.

 

With this in mind, there are still some things that need to be looked out for when purchasing property in the land of smiles.

 

Use a Reputable Real Estate Agent

When purchasing a property in the country offers are seldom made before you go through a number of legal loop holes. Consult a reputable real estate agent for details regarding any legal matters & they will be able to advise you correctly, often the legal formalities will be dealt with in-house.

 

Use your own Name

When this is all done you will need to get your name registered on the property. Do not use any other name then the one on your passport as this may cause issues in the long run. You are generally required to hand over around 10 per cent of the total property price as a deposit, this is refundable should the sale not go through and you are not the cause. You will be required to pay the full amount and all the taxes when the contract is signed. This means the deeds can be registered with the Thai Land Dept and makes the deal complete.

 

Thai Property Laws

There are a number of differences in Thai property law to that of UK law. Foreigners are not allowed to purchase land in for sale in Pattaya or anywhere Thailand, but are allowed property. This makes apartments and condos a more popular option than houses for buyers.It’s possible to purchase land by setting up a limited company. This means you can own up to 39 per cent of the land and the rest is owned by Thai nationals who sign over the rights to the property to you. This means you must pay associated costs to set up the company of around 30,000Baht initially and pay 20,000Baht each year in associated costs thereafter.

 

Other ways around Land Issues

You can also lease the land for 30 years with a right to automatic renewal and so can lease for up to 90 years. You may also own land if you are a foreign man and you marry a Thai woman. This gives you right to freehold land. However, this method does not work for a woman marrying a Thai national.These are many of the major things to look out for when purchasing a condo or property for sale in Pattaya or any other area in Thailand.

 

We hope you found our article useful. If you have any questions about buying your dream home in Pattaya, please get in touch with our team of experts who will be more than happy to help.

 

A World Apart, Thinking of Relocating?

Saturday, July 30th, 2011

Anyone think of moving from a western country to South East Asia should research the place where they intend to reside so that they can fit into the culture.

When we think about  moving house in our own country, we check the neighbourhood, quality of house, location to schools and shops and a multitude of other things so that we will feel comfortable in our new home.

If you decide that you want to live in Asia, there are other topics that you will need to understand. Currency, Laws, Welfare Services, Taxation and Culture.

Culture is probably the greatest difference that you will face when moving from the west to set up home in Asia. Culture is probably the most misunderstood challenge faced by people that relocate.  Each foreigner will have their own views about the native cultural differences and unless you take the time to learn about the people that you are going to live amongst, you will have some surprises.

Asian culture is different to western culture and there are also huge differences in culture among the Asian countries.

The following observations are my own and they are meant to be only a guide. I do not profess to be an expert on the subject and I have spoken to long term residents of Asia who say that they will never understand the culture. Instead they live in their own microcosm trying to keep their own culture intact. For most of us, we absorb the language, the diet, the way of life and the culture to a greater or lesser extent.

 

Thailand

FACE
In Thailand for example, if you want to understand Thai culture you have to understand face.  This is all important to all Thais.  It is an end in itself, not a means to an end.  Thai society is very hierarchical.  When two Thais meet they will very quickly assess who is higher up the hierarchal ladder and the lower person will immediately adopt a more deferential attitude.  Moving up the ladder and getting high status is a very strong motivator.  Factors that influence your position in Thai society are family background, profession, friends and most importantly money.  The quickest way up the ladder is to make heaps of money.   It seems to me that the source of the money is irrelevant – if you have it, you are immediately moved up the ladder.  This is why you will see so many Mercedes Benz and BMW’s here.  Some Thai people will live in squalor and half starve themselves, to get the money to buy a Mercedes Benz.  This gives them an instant upgrade in status and never mind the hardship endured to get there.

When a lower person meets a higher person, the lower person will wai to the higher person to show respect.  (A wai consists of putting your hands together as if praying, raising them to a certain height and bowing your head).  The height that the hands are raised signifies the level of respect.  For example to a religious icon, a Thai might raise their hands above the top of the head, to a good customer, perhaps to nose level and to a casual acquaintance, chin level.  Two equals may well wai each other.  The point of this paragraph is to tell you, that as a foreigner, you should not wai to anyone and particularly not to a bar girl.  I see guys wai-ing bar girls all the time – trust me, in the eyes of a Thai you look ridiculous doing it and are making a fool of yourself.  Although there are occasions when it may be appropriate for you to wai someone, as a non Thai it is acceptable that you wai no one and that is your safest bet if you don’t want to appear a fool or cause offence.

When you argue with a Thai person, everyone starts losing face.   Thai’s hate it and will do just about anything to avoid a confrontation, including lying their heads off.  It is more morally correct in their minds to lie than to cause friction through confrontation.  This leads many westerners to think they have stumbled into a race of people who cannot tell the truth.  Not so, but a different moral principle is in operation here.  Visitors beware!  Most guidebooks say you should never raise your voice or directly confront a Thai with an unpleasant reality.   I have found though that sometimes it is the only way to get things done.  If applied selectively, shouting and table thumping can really get Thai’s jumping to make the source of your irritation go away and to return to the peaceful serenity they love so much.  Just be a little careful when trying this approach and don’t expect to make any friends.

Westerners sit outside their hierarchy and many Thai’s get confused about how to deal with us.  Generally, you will be treated as a higher class Thai in tourist areas but sometimes you will just be ignored as if you did not exist.  You just don’t fit into the system, except that as a westerner it is assumed that you have endless money and are therefore worthy of some respect.  Try not to break this illusion or you will be left without status and ignored.

Taking Care
Asian society is extremely sexist with the male appearing to be the dominant sex, yet underneath this veneer, women in fact wield most of the power.  On the face of it, women are treated as second-class citizens and expected to do all the daily chores without complaint.  Now this may not be politically correct, but as a guy it can certainly be pleasant.  Many guys are surprised when the girl they just met, starts cleaning the bathroom, folding his clothes, worrying about when he last ate etc.  My advice – enjoy the pampering.

The reality is that most working class Asian men cannot be bothered with these womanly things, and women run the household.  Women will also control the money, with most men giving their whole pay packet to the wife, who will then pay a small daily allowance back to the guy.  It really is a matriarchal society and the men have a pretty good lifestyle, but in return the women control the money and therefore really hold the power.  An Asian man would be horrified by the above statement, but I believe it to be true.

Falling in Love
Sorry to bring up the terrible “L” word but believe me it happens very frequently and is probably the largest cause of misunderstanding between an Asian girl and a foreigner.  What I have to tell you is that love as you understand it is a Western cultural thing.  Yes the west does have a culture, you were born into it, and some things you take to be universal truths are in fact cultural conditionings.  In Asia, the culture is very different and so is the meaning of love.  That does not make it any less fun; it just means you will be approaching the relationship from a very different point of view.  The chance that your girl fully understands the western concept of love is virtually nil, so you had better make an effort to understand the Asian concept.

Asian love is inextricably linked to money and family.  If you love an Asian girl, you will want to help her take care of her family.  If you do not want to help out, then you are not in love.  Simple!  When an Asian man marries an Asian woman, the man’s family will make a financial contribution to the woman’s family.  The amount paid signifies the depth of love and desire.  If the mans family are too poor to make a big enough contribution the marriage will more than likely be stopped by the girls family.  There may actually be a bidding match between two suitors, with the spoils (the girl) going to the highest bidder.  Girl children are highly valued by Asian parents as the major responsibility for caring for elderly people falls on the female children.  It is only right and proper that if you want to marry their highly valued daughter in whom they have made considerable financial investments, that they should be compensated.  Face also plays a part here.  It is not unknown for a poor family to make an arrangement with the girls family to pay perhaps double what they can afford and then later for the girls family to secretly return half the money.   This way both families gain face and no-one goes broke.

I know of one Foriegner who was all set to marry a Thai girl and went to meet the family.  When the family began inquiring how much he was prepared to pay for their daughter, he laughed it off as a joke.  On returning to the city, he was shocked and surprised when his true love called the whole thing off.

Many foreigners find the connection between love and money to be distasteful and yet to an Asian, the connection is obvious.  If you are not in a position to raise the living standard of your girl and her family, it is most unlikely that your love match will work out.  Remember, money first then friendship and lust. If you can cross the financial hurdle though, being in love and being loved by an Asian is hard to beat.   Excuse my sexism, but having a woman who respects you, considers it her role to ensure your happiness and comfort and who loves to do whatever you want, is quite pleasant.

Taking Her Home
I took my Asian girlfriend home to the UK for a holiday.  During that time, I watched her change from a bright, social fun girl into a withdrawn, anti-social stay at home type of girl.  Although she professed her happiness and willingness to stay, I could tell that she was very unhappy.  When we returned to Asia, her bright happy nature also returned.

This was my experience with one Asian girl. Your experience may be different but I am convinced that it is extremely difficult for a Thai or a Filipina to be truly happy away from Asia.  If you are thinking of moving an Asian permanently to the west, I believe it to be extremely important that you make contact with their country’s community in your area so your girl will have some Asian friends..  If there isn’t a Thai or Filipino community, she will be very lonely indeed.

Asian people in general have no great desire to travel.  I have asked hundreds of girls if they would like to see America – Europe, etc.  Although bar girls will generally lie, thinking there may be a dollar or two in it, if you get to the truth, the simple fact is that most Asians have no great interest in travelling outside of Asia and the thought of leaving permanently is abhorrent.  While financial considerations can outweigh this abhorrence, the money will not make them happy; they just endure the change in lifestyle for it.  I don’t know about you, but for me having a partner enduring life for the money is not my idea of fun!

Westerners have a more global understanding of the world and can adjust more easily to different cultures in my opinion.  If you really do love her and want her to be happy – move yourself to her country.  If you cannot afford or handle life in Asia, think very long and very carefully before asking her to do what you cannot.

 

by

Long Time Resident

 

SBMA eyes new priority investment zones

Saturday, March 12th, 2011

By Malou Dungog

Mar 09, 2011

http://punto.com.ph/News/Article/10561/Volume-4-No-114/Business/SBMA-eyes-new-priority-investment-zones

SUBIC BAY FREEPORT — Consistent with the task of developing this freeport into a service and logistics center, the Subic Bay Metropolitan Authority (SBMA) is seeking to expedite the development of priority investment zones here this year.

SBMA administrator Armand Arreza said the agency has identified eight separate initiatives to develop more areas for business locators in the Subic Bay Freeport.

These include the redevelopment of Subic’s Central Tourist District, rezoning of the Subic Gateway Park for commercial and mixed-use development, conversion of the 16-hectare marshalling yard into the Gateway Business District, establishment of anchor educational institutions at the Paradise lot, development of a maritime industrial complex around the Hanjin shipyard, development of integrated resorts in Cawag and Minanga, redevelopment of the Subic Bay golf course, and the push for outward expansion.

Arreza said the development of new investment sites is crucial to sustaining Subic’s development momentum in face of Subic’s limitation in available open space.

Developed mainly as a base for the U.S. Navy, the Subic freeport zone has a land area of only 55,102 hectares, most of which are triple-canopy forests designated as part of the National Integrated Protected Area System (NIPAS).

“We are very proud of the fact that we have attracted cumulative investments worth more than $7.16 billion and almost 1,500 investment projects as of 2010. Unfortunately, these investments won’t bring any economic benefit to us if they do not materialize for lack of space,” Arreza said.

Of the eight identified new investment zones, he said that two are already under re-development. These are the Central Tourist District, which is anchored on a P3-billion Ayala mall project scheduled for completion in the fourth quarter of 2011, and the Subic Gateway Park, an industrial area that is being converted into a mixed-use district.

Among the investment initiatives at the Central Tourist District are the redevelopment of the Subic Bay Yacht Club by a private group that recently purchased the property from Land Bank; the development of a cruise ship terminal by Global Terminals; the construction of the Harbor Point Mall; redevelopment of the Times Square commercial complex; and the establishment of a regional bus terminal.

On the other hand, Arreza said the Subic Gateway Park is “emerging to be primarily our business process outsourcing (BPO) center within the next few years.”

Aside from this, the area has recently attracted some hotels, eateries and a Ford showroom, with Mitsubishi also planning to put up a display room nearby this year. A five-hectare lot in the area has also been reserved for an anchor university to attract educational institutions in the area.

Next to the Gateway Park, a 16-hectare area used in the last 15 years as a storage area for second-hand equipment will become the new Gateway Business District, Arreza said. This area is expected to contain BPO firms, commercial establishments, as well as office spaces.

Meanwhile, across Subic Bay, the SBMA is encouraging the development of a new maritime industrial cluster around the Hanjin shipbuilding complex. This will be a 50-hectare site to be developed as a support industrial facility for the Korean shipbuilder.

Arreza also said that Hanjin is now both the biggest importer and exporter in Subic because it has to import practically 100 percent of the components used for its ships.

“We believe that to be able to capture more value and create more jobs here, it is important for us to begin the task of building a maritime industrial cluster to support Hanjin,” he said.

“Already, there is about $4.8 billion worth of business that is available for companies who might want to supply Hanjin with steel, motor components, electrical components, gauges, panes, and other mechanisms necessary in manufacturing ships,” he added.

Arreza also reiterated SBMA’s push towards expansion outside of the present fenced-in portion of the Subic Bay Freeport.

He said that projects under this would include the development of integrated resort clusters at Minanga Bay in Morong, Bataan, and at Cawag in Subic, Zambales.

Thai food tops in attracting tourists to the Tourist Areas

Tuesday, February 1st, 2011

Foreign tourists still enjoyed travelling to Bangkok at year-end, mostly attracted by Thai food and hospitality, and their top destination of choice in Bangkok was the Grand Palace and the Temple of the Emerald Buddha, according to an opinion survey released at the end of the year.

Over two-thirds – 70.6 percent of the 663 foreign tourists polled – said that Thailand’s political conflicts and protests are less likely to influence their decision to travel to Bangkok.

Moreover, 82.1 percent those surveyed said they would revisit Bangkok and 91.8 percent will recommend Thailand to would-be visitors.

The Bangkok Poll, conducted by the Bangkok University Research Center among 663 foreign tourists at seven tourist attractions Dec 16-19, found Thai food, hospitality, historical sites, shopping centers, culture and folk arts were the top five reasons that attracted tourists to Bangkok.

As the respondents were allowed to select more than one choice in giving their impression, Thai food got the highest vote among 63.3 percent of respondents, followed by 47.1 percent who selected Thai hospitality and 46.5 percent who chose historic sites.

The Grand Palace and the Temple of Emerald Buddha in the city’s main historic district, Rattanakosin Island, topped Bangkok’s list of tourist destinations, with 27.2 percent of respondents choosing them, followed by 13.4 percent who said they liked Wat Pho, a nearby temple, housing a 46-metre-long reclining Buddha statue and a school of traditional Thai massage, while 12.5 percent of those polled preferred shopping centers in Pratunam and Pathum Wan districts.

Asked about their satisfaction in travelling to Bangkok, the average score of satisfaction was 7.62 marks out of ten, an increase by 0.04 percent from an opinion survey conducted at the beginning of the year.

The highest score of 8.63 for satisfaction was given to food and drink, followed by 8.51 for hospitality. The least satisfaction, which gained a score of only 5.29, was air quality, and cleanliness received only a 6.14 score.

Meanwhile, 51.8 percent of the respondents said they would celebrate the New Year in Thailand while 41.3 percent said they would not stay, and 6.9 percent were undecided.

Among those opting to celebrate the New Year in Thailand, 6.5 percent named Chiang Mai as their destination, 5.7 percent chose Samui, 4.9 percent opted for Khao San Road in Bangkok and 4.1 percent at CentralWorld, Bangkok’s main countdown venue.

Thailand Property Market

Friday, December 17th, 2010

Getting Fat After three years of uncertainty in the Thai property market, there are now signs of an increase in the number of property sales for the last quarter of 2010.  Condominiums lead with a healthy number of off plan sales every month. Condominium resales are second with House resales coming third and new house sales bringing up the rear.

It will take some time however for the market to reach the level of sales reached in 2005 and 2006.  There will have to be some major changes to the foreign banks lending policies before the Thailand Property Market returns to the sales figures seen during the recent property boom.

Who We Are:

NT Realty Asia are the longest established Real Estate Agent in Pattaya Thailand.

For over 28 years offering the very best condos for sale and for rent, as well as a variety of houses for sale and for rent.

Contact us today on +66 (0) 38 426 242 for help in finding your dream home.

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