Buy of Business in Pattaya
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IN Pattaya which is the city located between the devil and the deep blue sea, the most popular business in beer bars where all pagans can relax themselves by worshiping hedonism instead of God. Most of the real owners who invest money are foreigners falling in love with the easy life style of “Mai Pen Rai”. However, this carefree mentality can sometimes lead them to the dilemma. Nobody cares about the crazy farang who lost all his fortune and jumped out from his condominium or died of suffocation by a plastic bag covered on his head. Believe it or not! This suffocated farang just committed suicide without any so called, “conspiracy theory”.
This is not easy for these nocturnal businessmen to be prudent when they signed all legal documents to buy this kind of business when they still have their glass of beer on their hands. The Thai ladies beside them always giggle and teasing in Thai language with the fake lawyer who always laughing once the Thai lady called her farang with the nickname “Kwai”.
Some people may blame us that we are too pessimistic to write this kind of fiction. However, Pattaya can give the most inspiration for the thriller like the author John Grisham. For us, all stories are from our “d”j” vu” which sometimes remains our nightmare.
The “conspiracy of silence” by all people around the gullible buyers is the main problem. It is advisable to be wise to seek the advise from the real independent lawyer who will serve you as his sole master. If you ask the broker who wants to close the deal about the legal protection which may prolong the closure of transaction, you may suddenly know what will be the answer.
The first thing you have to know is who is the owner of the bar business according to the legal paper. Many farangs put all licenses under the name of their Thai ladies.
Buy of Business in Pattaya
“I am not a good businessman in Pattaya”
As you may hear “Hell hath no fury more than a woman scorned”, many deals are collapsed by the emotional effect of these ladies.
Most of the bar licenses in Pattaya are under the name of Thai ladies which must be approved by the police station , Pattaya City Hall and the Administrative Office of Banglamung District. The licenses can be transferred to the new owner with the tough red tape process. The new license holder must have the finger print with the police office which will take some time. It is not possible for a farang to be a license holder. For some who set up a company to run the business will find all red tape along the process to obtain a work permit.
It is advisable to hold the payment until you can be sure that the bar license can be transferred to your Thai proxy which is technically called”nominee” to refer to someone whose name is being used to avoid the restriction of law. Some lawyers may draft a proper agreement to protect your interest from the impermanence of relationship between you and your Thai nominee. The payment should be made by a bank”s cheque and held by the neutral person or escrow until the transfer of all licenses is completed.
The second significant factor is the leasehold right of the bar belong to whom. Who is the real owner of the building where the bar is located” Most of them are Thai Chinese businessman in Bangkok who will not have time to deal directly with you. Please ask your lawyer to check and verify if the owner of the bar has a proper lease agreement from the real owner. The sub-lease must be consented by the real owner who will be happy only to share money from the deal without any sweat. Under Section 544.- of the Civil and Commercial Code of Thailand, it is mentioned that unless otherwise provided by the contract of lease, a lessor cannot sub-lease or transfer his rights in the whole or part of the property leased to a third person. If a lessor acts contrary to this provision , the lessor may terminate the contract.
The right to sub-lease must be clearly mentioned in the lease agreement or approved by the owner. Many buyers of the beer bar are evicted by the owner of the building who never care that the buyer has already paid million to the seller of the beer bar.
Under Section 538.- of the Civil and Commercial Code of Thailand, it is mentioned that a lease of immovable property is not enforceable by action unless there be some written evidence signed by the party liable. If the lease is for more than three years or for the life of the lessor, it is enforceable only for three years unless it is made in writing and registered by the competent official.
It is strongly advisable to check the remaining period of the leasehold right if you will invest the big amount of your hard earned money. The lease period is just only three years unless it is registered with the Land Office. Nobody wants to register. Some owners may avoid this registration requirement to have many lease agreements with the period of three years each with the posted signature. However, sometimes it is technically problematic which may lead the ullible buyer to end up in the perdition.
“Truth is always stranger than fiction” should be the maxim only for the ones who are agnostic of wisdom you may seek if m you are sober enough to read this article. Seek a good licensed lawyer to assist you if you are not children, sailors and drunken men who are protected by God.
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