It has come to our attention that many clients who are due to complete on property purchases are worried because they cannot yet get back to Thailand.
We would like to advise you that there is no need to worry as the land office has a set protocol to allow transfers to take place and complete without the buyer actually being in Thailand.
The process is as follows;
- We compete a specific power of attorney using the land office own form. We then email that to you in English (for your reference so you can understand what you are signing) and Thai for you to print out and sign.
- We also require a copy of your passport picture page signed as well.
- In the case the buyer owes the developer money we can accept that into our client account bank account then prepare the correct cashiers cheque’s to be paid at the land office.
The total process to get all the documents countersigned is as follows.
Once the forms are printed out via email (in the foreign country) they have to be taken to a notary public lawyer for the purchaser to sign and get witnessed. The papers then need to be sent, by post, to the legalization dept with that country to be legalized. After that they need to be taken to the Thai embassy to get the stamp. Once that is all completed they need to be all courier to us via DHL etc.
Once received the land office will allow the transfer to take place regardless that the buyer is not Thailand.
The whole process time line varies from country to country however using the United Kingdom as an example the normal time to get this all completed and returned to Thailand is around 16- 20 days.
An aerotropolis is a city where the layout, infrastructure, industry, and economy are centered on and sustained by an airport. The aerotropolis enhances economic development within 20-30 kilometers from the airport, which serves as a multimodal “airport city” commercial center. It is similar in form to a traditional city, which contains
- The airport’s aeronautical, logistics, and commercial facilities, anchoring a multimodal, multifunctional airport city as its center; and
- Outlying corridors and clusters of aviation-oriented businesses and industries, and associated residential developments that feed off each other and their accessibility to the airport and other key transport and urban nodes.
- – Logistics and distribution centres
- – High-value, time-critical manufacturing firms
- – Office buildings and business parks
- – Hotel, convention, and exhibition complexes
- – Tourist and entertainment venues
- – Retail centers and wholesale merchandise marts
- – ICT (digital) and R&D parks
- – Bioscience and medical clusters
- – Higher education campuses
- – Mixed-use commercial/residential developments
The Aerotropolis proposes to provide businesses located near or with good transport access to Suvarnabhumi and U-Tapao Airports with speedy connectivity to their national and worldwide suppliers, customers, clients, and enterprise partners. It also sees the opportunity to draw tourists and attract investment in high-end manufacturing and modern business services by powering up the eastern seaboard airports, seaports, and improved multimodal surface transport connectivity. In the long run, this will greatly benefit the EEC municipalities and provinces.
EEC Aerotropolis Strategic Objectives
- Make the EEC the fastest, most agile, and best-connected location to do business in Southeast Asia.
- Improved surface transportation connects firms more efficiently to key EEC clusters and broader regional markets.
- Utilize speedy connectivity to attract high-value, time-critical aviation-oriented businesses and industries that will accelerate the growth and modernize the economic base of Thailand’s Eastern Economic Corridor (EEC), leading the economic transformation of the nation.
- Reinforce the above through labor-force upgrading and well- designed aviation-linked urban, commercial, industrial, and tourist clusters that are economically efficient, attractive, and sustainable.
- Fully leverage the Fifth Wave of transportation-driven development.
In celebration of this year’s Thailand National Children’s Day, the Magna Carta Group, together with the Banglamung District, Pattaya Lawyer’s Council, R.U. Alumni Association Chonburi, and TBTI, joyously distributed stationeries, toys, and candies to the children who participated on this festive event held at Banglamung District Office last January 2. The annual Children’s Day celebration has always been a much-awaited event because all the fun and treats are greatly bringing smiles on all the children’s faces.
The Thailand SMART Visa is a new type of visa designed to encourage highly skilled professionals and investors to support the development of Thailand’s targeted industries. SMART Visa is open to foreign specialists, executives, entrepreneurs and investors who want to work or to invest in the 10 S-Curve industries or targeted industries.
Thailand Smart Visa applications will only apply to the ‘S-Curve’ targeted industries:
First S-Curve Industries
- Next-Generation Automotive
- Intelligent Electronics
- Advance Agriculture and Biotechnology
- Food Processing
- High Wealth and Medical Tourism
The Five New S-Curve Industries
- Digital Industry
- Automation and Robotics
- Aviation and Logistics
- Biochemical and Biofuel
- Comprehensive Healthcare Industry
Thailand SMART Visa Benefits and Privileges
- Visa validity up to 4 years (instead of the usual 1 year)
- No work permit required
- Extension of reporting of stay to Immigration Bureau – from every 90-day to every year
- The right of legal dependents (children who are older than 18 years old) of SMART Visa holder to live and work in Thailand equivalent to Smart Visa Holder (this benefit is applicable only to the holder of SMART Visa Type “T” only)
- Spouse granted permission to work without work permit requirement
- No re-entry permit required
Thailand SMART Visa categories and qualifications
Talent (SMART “T”)
Highly skilled professionals in the fields of science and technology
- Minimum salary of no less than 200,000 Baht or equivalent per month (exclusive of other benefits and welfares)
- Having an employment contract or service contract with an entity in Thailand with the remaining term of at least 1 year
- Having expertise in science and technology relevant to the targeted industries and endorsed by a government agency (Except for experts who work for a government agency)
- Employers in Thailand must be certified for being engaged in the targeted industries by a relevant government agency such as the National Innovation Agency (Public Organization) and the Digital Economy Promotion Agency. In case of employers being a government agency, the certification of being in the targeted industries shall be done by that agency.
- Smart visa “T”, children have the right to work equivalent to the Visa holder.
Investor (SMART “I”)
Investors in companies using technologies in manufacturing or delivering services and being in the targeted industries
- Directly investing in one or more companies in Thailand using technology as a base in manufacturing or delivering services and are in the targeted industries as an individual investor in the total amount of at least 20 million Baht
- The investment must be maintained throughout the validity period of the smart visa.
- The business to be set up or invested in must be certified as being the ones using technology in manufacturing or delivering services and being in the targeted industries by the relevant agencies such as the National Innovation Agency, Digital Economy Promotion Agency and National Science and Technology Development Agency.
Executive (SMART “E”)
Senior executives working in the companies using technology in manufacturing or delivering services and being in the targeted industries
- Minimum salary of no less than 200,000 Baht or equivalent per month (exclusive of other benefits and welfares)
- Holder of a bachelor’s degree or higher with at least 10 years of work experience in the relevant field
- Having an employment contract with a company in Thailand or in a foreign country with an assignment to work in Thailand. The remaining period of the employment contract must be at least 1 year.
- Holding a senior management position such as Chairman or Managing Director
- The employing companies must be certified as being the ones using technology in manufacturing or delivering services and being in the targeted industries by the relevant agencies such as the National Innovation Agency (Public Organization), Digital Economy Promotion Agency and National Science and Technology Development Agency
Startup (SMART “S”)
Foreign startup entrepreneurs who wish to invest in the targeted industries in Thailand
- Having a fixed savings account in Thailand or in a foreign country with a balance of not less than 600,000 Baht or equivalent and the remaining maturity term of at least 1 year
- In the case of being accompanied by spouses and children, an additional amount of fixed savings of at least 180,000 Baht per person or equivalent is required.
- Having health insurance policy covering the entire course of stay in Thailand for the applicants of the SMART Visa, and for the accompanying spouse and the children
- Participating in an incubation or accelerator program, or a similar program endorsed by a government agency such as the National Innovation Agency (Public Organization), the Digital Economy Promotion Agency. The programs must also be in the targeted industries.
- In case of not participating in an incubator or a similar program, the applicant must receive joint venture funding or endorsed by a government agency such as the Digital Economy Promotion Agency.
- The applicants must set up a company in Thailand within one year. The business or investment activities must be certified as being in the targeted industries by relevant government agencies such as the National Innovation Agency (Public Organization), the Digital Economy Promotion Agency. The applicants must hold no less than 25% of the company’s shares or assume a position of a director of the company.
Others (SMART “O”)
Legal dependents such as spouse and children.
Foreigners wanting to apply for the Thailand Smart Visa will first need to apply for and obtain a Qualification Endorsement letter from the SMART Visa Unit. The SMART Visa Unit will check the application for qualification, and then submit to the relevant government agency for endorsement. The whole process will take around 30 working days.
Please See Related Pages under Eastern Economic Corridor (EEC)
U-Tapao International Airport plays a vital role in the development of the Thailand’s Eastern Economic Corridor under the Thailand 4.0 scheme. There are major developmental plans to expand the airport’s capacity since the government aims to turn U-Tapao International Airport into a third major destination for airlines. This will enable business expansions, as well as to better facilitate the establishment of the Special Economic Zone in anticipation of the EEC expansion. This major project accepts private investments in developing the U-Tapao International Airport as a part of the U-Tapao Airport and Eastern Airport City Development Project.
U-Tapao Rayong-Pattaya International Airport, under the authority of Thai Navy, is located at Baanchang District, Rayong Province. It occupies a land area of approximately 1040 hectares (6,500 rai, 2,570 acres). Currently, it has one runway with 52 bays and there are 2 passenger terminals, which can support 700,000 domestic and international passengers per year and it handles between 80,000 to 100,000 flights per year.
Private Public Partnership investments will allow continuous development of the airport and many various activities including:
- Passenger Terminal 3 and the Commercial Gateway
- Air Cargo facilities – Phase II
- Maintenance, Repair and Overhaul (MRO) facilities – Phase II
- Aviation Training Centre – Phase II
- Free Trade Zone
When these modernization and expansion plans of existing runway and new passenger and cargo terminals are ready; it will bring about a massive capacity increase from the current 800,000 passengers to around 3 million passengers per year. By 2021, the building of a second runway is about to happen. This will then enable the airport to reach its goal of handling 250,000 yearly flights in the future.
High Speed Train and double track railway and motorway expansion will soon provide interconnectivity between U-Tapao, Suvarnabhumi and Don Muang International Airports by a high-speed rail line. Furthermore, constructing a third terminal, having private sector to manage and operate it, is also taken into consideration. In combination, all three terminals will be able to accommodate up to 60 million passengers per year. Not only will it help alleviate the crowding of Bangkok’s other main airports but it will also result to a high increase in revenue. The growth of U-Tapao International Airport will bring an influx of tourists and businessmen to Pattaya and The Eastern Seaboard. Pattaya, a popular tourism area near U-Tapao, will greatly benefit from these expansion plans. Hence, Pattaya is undoubtedly foreseen to grow in the years ahead. Apparently, the increase of tourists will impact the hotels, restaurants, real estate market, and the general economy of Pattaya.
Please See Related Pages under Eastern Economic Corridor (EEC)
The development of the Eastern Economic Corridor of Innovation (EECi) has been proposed by The Ministry of Science and Technology to support the innovative research and development and involving the government, private-sector organizations, universities and local communities. It aims to advance and transform existing industries as well as to develop the new strategic industries, both within the Eastern Economic Corridor and in other parts of the country. Its ultimate goal is to make Thailand a country that prospers on innovation, to upgrade the quality of life of local people and the country towards a sustainable future.
The Main Objectives of Eastern Economic Corridor of Innovation (EECi)
- Technology and innovation research and development, designed to reach “the real world”, such as to achieve scientific findings in a laboratory setting that can be “translated” into practical industrial applications.
- Transferring technologies to the industrial sector in order to develop the country’s 10 targeted industries, by upgrading and strengthening existing industries and creating new industries with high levels of technology. The EECi will also promote startups with high levels of technology and innovation, a move that is seen as fundamental to the growth of new industries, both within the EECi and in other parts of the country.
- Creating links to networks of research and development both within Thailand and overseas, to help generate an innovative society with high levels of technology and to achieve a working integration, or “triple helix” relationship, between the private sector, educational and research institutes, and government organizations. To extend the “triple helix” concept by involving people in local communities, thus creating a “quadruple helix” working integration.
- Modern Agriculture & Biotechnology
- Biofuels and Bio-Chemicals
- High Performance Battery and Modern Transports
- Automation, Robotics, & Smart Electronics
- Satellite and Aviation
- Medical Devices & Supplies
- STI Solution for Industries & Communities
- Research and Innovation
- Workforce Development
- Research and Quality Infrastructure
- International Collaboration & Tech Transfer
Three Targeted Sectors of Technology and Innovation in Eastern Economic Corridor of Innovation (EECi) are:
- ARIPOLIS: A research and innovation center for automation, robotics and intelligent systems
The focus here will be on serving the digital economy, which is Thailand’s main development target. From Aripolis will spring the stimulation and encouragement to create a new industry based on:
- -Intelligent Systems
- -Internet of Things (IoT)
- -Big Data
- -ICT Security
This will not only directly enhance economic growth, but will also provide crucial support to the transformation and development of the other nine strategic industries, whether they are located within the EECi or elsewhere in the country.
- BIOPOLIS: A center for research and innovation in life sciences and biotechnology
The aim is to drive the development of the country’s agricultural economy with science, technology, and innovation, to create value-added products from agriculture goods and continuously create growth opportunities for agricultural industries. This enhanced agricultural development will give Thailand an increased and sustainable competitive advantage.
Biopolis will support the bioeconomy scheme, which covers the following industries:
- -Smart Agriculture
- -Functional Ingredient/Nutraceutical
Biopolis will also expand collaboration in life sciences and biotechnology research and development to increase agricultural productivity, improve seed stocks and transform raw agricultural goods into high-value products.
- KRENOVAPOLIS: A center for creating innovations in space technology and geo-informatics
It aims to provide fundamental infrastructure for innovations in science and geo-informatics, applying to many fields and technologies; to utilize intellectual capital; to create knowledgeable and skilled workers; and to develop an innovative economy for Thailand.
- -Ground Station & Operations Support
- -Maritime Solutions
- -Agriculture Solutions
- -Navigation and Location-based Services
Wangchan Valley – Tambon Payupnai, Wangchan District, Rayong Province
The EECi site at Wangchan Valley that will concentrate on Aripolis and Biopolis, covers about 3000 rai (480 hectares). The Kamnoetvidya Science Academy (KVIS), the Vidyasirimedhi Institute of Science and Technology (VISTEC), and the Wangchan Reforestation Project occupies it. Together, they cover about 1000 rai, leaving about 2000 rai (320 hectares) to be developed by the Ministry of Science and Technology and PTT Public Company Limited.
More than 30 industrial estates in the Eastern Economic Corridor (EEC) surround the Wangchan Valley. It is close to modern transportation systems, including motorways, High-speed railway, U-Tapao International Airport, Ports at Laem Chabang and Chuk Samet and Tourism centers and areas growing major industrial crops.
Wangchan Valley will receive fundamental infrastructure to support research, development and innovation activities. It will have areas for private sector research and development, a startup and innovation center and a national quality infrastructure for verification, evaluation and certification. It will also have “translation” research infrastructure such as pilot plants, demonstration plants and living laboratories where scientific findings can be “translated” into practical industrial applications. Moreover, Wangchan Valley will have residential areas, meeting facilities, a fitness center, sustainable green spaces, hotels and other facilities, including international schools and bilingual schools to meet the needs of both Thai and foreign experts. These will be available to privately-sector people as well as other target groups, to create Thailand’s leading venue for innovation development.
Space Krenovation Park (SKP) – Sriracha District, Chonburi Province
This is being developed on 120 rai (19.2 hectares) of land, which will provide a focal point on Krenovapolis. The site is already home to Thailand’s Geo-Informatics and Space Technology Development Agency (GISTDA), part of the Ministry of Science and Technology.
Please See Related Pages under Eastern Economic Corridor (EEC)
Digital Park Thailand is strategically located within the Special Economic Zone of the Eastern Economic Corridor (EEC) on a 600-rai area in the Sri Racha District of the Chonburi Province. It is located conveniently close to Suvarnabhumi Airport and U-Tapao International Airport. Several industrial, estates and universities surround Si Racha. Therefore, this project will support these existing industries and people in the area, including existing schools and the automotive and agriculture sectors. There is also an assurance of an easier mode of transportation in the future. High Speed and double track railway and motorway expansion, will then provide Interconnectivity between industrial sites, deep-sea ports and international airports.
Digital Park Thailand is a new digital hub for tech geniuses and business innovators looking to expand operations to Thailand and the ASEAN region. The establishment of the Digital Park will signify an innovative change in the way of conducting business in Thailand. Because it is surrounded with regional logistic hub, force of several world-class digital production, and recognized educational institutes, it will serve the purpose of the Digital Park to create an environment for a digital ecosystem to excel. Equipped with ultra high-speed broadband infrastructure, submarine cable station, data center, and satellite earth station, this will then serve as the digital hub of EEC while aiming to become the ASEAN Economic Community (AEC) data hub.
Digital Park Thailand is the destination for global players and world-class digital nomads to Invest-Work-Learn-Play because it will comprise of the following:
- Digital Industry Investment: Global Digital Player Destination
- DigiTech Acceleration: Global DigiTech Networking, 24/7 Innovation Workspace
- Digital Experience Innovation: Digital Theme Park, Animation & Movie Town
- Connectivity Hub: International Internet Gateway, Digital Data Hub, Satellite and Space Center
Digital Park Thailand is subdivided into 3 Zones:
Zone 1 – Private Sector Innovation Space
The digital business investment zone for foreign companies investing in Thailand.
Zone 2 – Digital Talent Space or Digital innovations zone (University 4.0 and Digital Academy)
This zone will comprise of centers for learning and sharing of digital technology, universities, and institutes for creations of digital innovations, such as Internet of Things (IoT) Institute. Renowned international and local universities offering digital-related courses and laboratories will then be established under collaboration between universities and the private sector.
Zone 3 – Smart Living Space and Innovation Workplace
Smart Living Space will comprise of residences, hotels, a shopping mall and a sport complex. Hence, this will make Digital Park Thailand a destination for international digital talent to live, work, learn and play.
Several incentive packages will be offered to business operators in Digital Park Thailand, which includes the following:
- Corporate and personal income tax privileges
- RDI regulatory exemption
- Ease to do business
- One-stop services
- Simplified VISA and work permit procedures.
The park is certainly going to be Thailand’s premier digital platform. Most importantly, this will pioneer testbeds and adoption of state-of-the-art digital technologies, Internet Of Things (IoT), and Artificial Intelligence.
This is an exciting opportunity for end-users, entrepreneurs, corporate residents, investors and partners across the region and country. Because of the project’s digital capabilities and sound infrastructure, as well as a vibrant world-class environment, Digital Park Thailand will definitely make an exceptional location for business leaders considering relocating their digital businesses within ASEAN.
Please See Related Pages under Eastern Economic Corridor (EEC)
REMAINING TIME TO PARTICIPATE
WATERFRONT REHABILITATION CASE
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This information was given to us by a Waterfront Buyer.
Waterfront, safe or bankrupt? Bali Hai Co., Ltd, the owner and developer of the condominium project called “Waterfront” Pattaya has filed a motion for rehabilitation to the Central Bankruptcy Court in Bangkok.
The Victims who are the buyers (creditors) of the Waterfront project at this time are compiling a list of all the buyers and their contact details in order to enable them to file all their claims and to present the list of the Rehabilitator (plan preparer) to the Bankruptcy Court. So, the buyers can oversee the rehabilitation process and control the future of this project. The aim is to let the actual buyers and other parties who actually suffered losses to have a say and to participate in the rehabilitation process as well as finding a way to fix all the issues. In case the buyers fail to participate and the rehabilitation process does not succeed, the Bankruptcy Court may order Bali Hai Co., Ltd. to be bankrupted.
The more the buyers are acting collectively and in unison, the more persuasive and powerful they will be during the negotiations with the project’s owner.
The buyers stated that “Every one of us is deemed to be part of the project as if we were the joint owners. So we have to help each other to look after our future residential accommodation as much as we can, and to not let Bali Hai Co., Ltd., the owner and developer of the project, use this rehabilitation case to cut off any of their liabilities and to avoid any responsibilities they might have with consumers, who are suffering from their mismanagement, which is currently only interested in protecting the interests of their own investors and their affiliated third parties without trying to accommodate the interests of the actual consumer. During the past 2 to 3 years, the developer has never done anything to let us see that they are really solving the problems in this project. They only seem to release statements to the media as well as letters to us buyers containing misrepresentations, indicating the issues are being fixed and making excuses – hoping that everyone believes their words. Now it is time for using this opportunity to take action by participating ourselves in the rehabilitation process and to help fix the problems by ourselves.”
If you are one of the affected buyers in this project, please fill up the form below and we will contact you back.
Bankruptcy ACT, B.E. 2483
Section 90/61. Any Creditor who may apply for repayment of debt in the business reorganisation (rehabilitation) but fails to submit an application for repayment of debt within the time specified under section 90/26 or section 90/27 paragraph three, as the case may be, shall lose the right to receive repayment of the debt, regardles of whether the debtor’s business reorganisation will become successful as intended by the plan or not, unless:
(1) it is otherwise specified in the plan; or
(2) the Court issues an order cancelling the business reorganisation order.
Located on South Pattaya Road, near the junction with Third Road, the Magna Carta Co., Ltd has been a feature of the landscape since before the turn of the century. The entire building has recently undergone a major renovation to accommodate the growing number of the Magna Carta Team and clientele, as well as to give room for the new business ventures under the Magna Carta Group of Companies.
Founded by Mr. Chalermwat “Pico” Wimuktayon, who is Legal Advisor to the Acting Mayor of Pattaya City; a Region 2 Committee Councilor of The Lawyers Council of Thailand and a member of the Committee of the Immigration Bureau of Chonburi Province. The Magna Carta team consists of 34 lawyers, 10 accountants and foreigners to oversee their foreign clientele.
Magna Carta Co., Ltd. fully owns the Magna Carta Office Building
The recent renovations were designed to make more effective and efficient use of its six floors. The building has a brand new lift and each floor now has its own operational function within the company.
The first (or ground) floor now has a wider reception area with 144 safety deposit boxes available for lease. Magna Carta also plans to open currency exchange booths within the premises, and elsewhere across Pattaya, in the future.
The second floor was converted into four private meeting rooms where clients can meet with Magna Carta’s team of lawyers and consultants in a private setting.
The third floor consists of the Magna Carta legal and accounting division; basically the heart of the overall business.
The fourth and fifth floors is now what Magna Carta terms an iBusiness Centre. They will soon be renting out office spaces as well as co-working spaces on these floors. Magna Carta have an LED which is available now to book advertising under the iBusiness model.
Finally, the sixth floor now has a huge conference room with a seating capacity of up to 26 persons.
MC Financial Consultancy
Apart from the legal and accounting aspects of their business, Magna Carta has now started looking into new business ventures with the aim of being able to offer a complete One-Stop Service for almost anyone. This includes a Financial Consultancy service, which will add even greater value to the legal and accounting framework.
MC Construction and Property Management
One major step forward has been the creation of the MC Construction and Property Management arm which aims to provide property management for condominium and housing projects. Its main goal is to create a secure environment and transparent financial system for any project. Magna Carta has well-trained staff with vast experience across the legal frameworks involved in condominium issues, and combining them with a professional management supervisor they believe they will be able to provide quality services in the day-to-day running of any project. Magna Carta is also able to provide all significant staff and services to make sure every detail of management is conducted according to the law.
The planned iBusiness Center is intended to provide help on running any kind of business in Thailand. They will provide a good and convenient business environment with all the necessary materials for success. You will be able to work in a good and convenient business environment provided with an office assistant and shall be equipped with free telephone, internet, storage, Post Office box, pantry, shower room and other facilities.
Asean Economic Community (AEC)
With the advent of the Asean Economic Community (AEC), Magna Carta has also taken on board the task of being a one-stop service provider to help both corporate and individual clients grow within the AEC by utilizing their network of legal contacts across the region.
313 Training Studio
Magna Carta has also established 313 Training Studio, located in Nongprue Soi 1, off Soi Siam Country Club. It includes Sauna, Spa, Martial Arts and Muay Thai training facilities all in the one place.
Magna Carta continues to see great potential across the wider Pattaya marketplace. They have positioned themselves to be among the leaders when it comes to specialist services.
The Pattaya City Council and the Pattaya City Executive have completed its term of office on 16th June 2016. Consequently, the Pattaya Ciy Director, Mr. Chanatpong Sriwiset, has been designated to temporarily take on the responsibility of Deputy Mayor of Pattaya until the official naming of the new City Mayor.
To orderly operate and resolve various legal issues, the Pattaya City Director has appointed Mr. Chalermwat “Pico’ Wimuktayon, as a legal advisor in civil, legal and administrative cases. The appointee will act as a litigation consultant, advising the legal procedure for events affecting the government.