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https://asia.nikkei.com/Economy/Thailand-offers-cheap-residency-visas-for-condo-buyers?utm_campaign=RN Subscriber newsletter&utm_medium=daily newsletter&utm_source=NAR Newsletter&utm_content=article link&del_type=1&pub_date=20201124190000&seq_num=4&si=44594

Thailand offers cheap residency visas for condo buyers
Government push aims to attract overseas money as COVID ravages real estate

 

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A construction boom in Bangkok, and other Thai cities, has led to a supply glut.   © Reuters
JASON TAN, Contributing writerNovember 24, 2020 13:03 JST

 

BANGKOK -- Thailand will provide a two-year window to receive its much-touted residency visa for free or at a discount through property purchases in a bid to lure foreign buyers to its slumping real estate market that has been saddled by COVID-19.

 

The government approved the new package in early November, according to people familiar with the program. Foreigners are prohibited from buying land in Thailand, but they can buy condos or apartments.

 

For buyers who purchase one or several units amounting to 10 million baht ($330,200), they will receive a five-year residency visa worth 500,000 baht at no charge or at a discounted rate, according to Somchai Soongswang, president of Thailand Privilege Card, which operates the residency visas for the government.

 

The visa, called Easy Access, will entitle members to perks, including a VIP guide at the airport, expedited immigration and passport control, free limousine transport from the airport to a hotel or residence 24 times a year, and other favors.

 

Somchai did not discuss other details but told Nikkei Asia the program should be launched by the first quarter of 2021. The program will run for 24 months and real estate purchased must be move-in ready and not under construction.

 

"Developers have a lack of cash flow, some have high debt and the new program will help them not lay off staff," Somchai said.

 

Major developers Sansiri and Pruksa have each laid off hundreds of employees recently. Pornnarit Chuanchaisit, president of the Thai Real Estate Association, told local media that more than 2,000 workers in property companies would likely be laid off in the fourth quarter if the government fails to take measures to blunt the impact of the pandemic.

 

Thailand, especially in the capital Bangkok and popular tourism destinations like Pattaya and Phuket, has embarked on a condo-construction spree in the past few years amid an influx of overseas buyers from mainland China, Hong Kong, the U.S., Singapore and Taiwan.

 

From 2010 to 2018, an average of 105,000 new units debuted in Bangkok yearly, according to Bank of Ayudhya's research unit, Krungsri Research. But sales totaled only about 96,000 units per year, leaving a supply glut.

 

Even before the pandemic, Chinese money started to ebb from Thailand's property market in 2019, due to a stronger Thai baht and simmering U.S.-China trade war.

 

A Bangkok property agent targeting Chinese buyers told Nikkei that some Chinese have decided to cash out on their purchases this year, but found no buyers. Some forewent their down payment to keep their cash, while others deferred buying plans.

 

Thailand first rolled out its residency visa program, dubbed elite visas, in 2003 to target high net-worth individuals for long stays in the country for five, 10 or 20 years. Every nationality is welcome, but a member has to pay 500,000 baht to two million baht at one go when their application is approved, depending on the visa package they choose. Most elite visa members are mainland Chinese, Japanese, South Koreans, Britons and Americans.

 

Currently, elite visas have nine packages with different lengths of stay and prices to choose from, but none of them tie with property buying. That means a condo buyer is not automatically entitled to long-term residency in the country, but has to apply separately for a retirement, work, investment visa or purchase an elite visa for long stays.

 

The elite visas achieved record new members for its fiscal year ended in September -- 2,674 new members were added, a rise of 24.8% year-on-year.

 

To cash in on the uptrend, Thailand Privilege Card rolled out a new type of visa package in October. The Elite Maxima Health costs 1.5 million baht for five years.

 

Members receive health and wellness privileges, such as annual medical checkups, access to local and overseas hospitals, 5 million baht in health insurance coverage per year. The members will also be covered for their quarantine hotel stays upon entry to Thailand for up to 100,000 baht.

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Sometimes yes sometimes its really nice to have a nice meal alone without anyone without having to worry to take care of the other person, without having to worry what to talk or what can be spoken. Just chilling alone . . . . 

 

 

 

First time having this Japanese gin
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Onion soup
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Foie gras
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Cod
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Simple, just 3 items, relaxing meal.

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https://asia.nikkei.com/Business/Food-Beverage/Japan-s-sushi-chain-Sushiro-going-to-Thailand-and-China-in-2021?utm_campaign=RN Subscriber newsletter&utm_medium=JP update newsletter&utm_source=NAR Newsletter&utm_content=article link&del_type=4&pub_date=20201202090000&seq_num=19&si=44594

Japan's sushi chain Sushiro going to Thailand and China in 2021
With population at home aging, group bets on Asia for further growth

 

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A Sushiro restaurant in Tokyo. The chain will slightly decrease the number of its shops in Japan but open many more abroad. (Photo by Ken Kobayashi)
NANA SHIBATA, Nikkei staff writerNovember 29, 2020 09:30 JST

 

TOKYO -- Japan's Sushiro Global Holdings, operator of sushi chain Sushiro, will enter Thailand and China next year, betting on Asian markets abroad for further growth as its home market faces a rapidly aging population.

 

Japan's leading conveyor-belt sushi chain, to be renamed Food & Life Cos. in April, is planning to open its first restaurant in Bangkok next spring. The move is part of the company's strategy to increase overseas sales to about 10% of total sales in fiscal 2021, through next September, from around 0.1% in fiscal 2018. Sushiro plans to open 24 to 28 restaurants overseas in fiscal 2021, up from 20 in 2020, while new eateries in Japan will decrease by three to five.

 

The Thai opening will be followed by entering the Chinese market. Sushiro will set up its Chinese business unit by December and plans to open one restaurant by next September.

 

The chain will join other Japanese sushi shops vying for a piece of the lucrative Chinese market, such as Kura Sushi. Although due to the COVID-19 outbreak Kura Sushi has put off its plan announced early this year to enter the market, it still aims to enter China within three years. To double overseas sales to 300 billion yen ($2.9 billion) by 2030, Kura plans to open 1,000 restaurants, mainly in Asia.

 

A year after debuting on Nasdaq, Kura Sushi listed on the Taipei stock exchange in September to improve its presence in the region. A company spokesperson told Nikkei Asia that expanding in Asia is an inevitable step toward becoming a global brand like McDonald's. The representative added that the region's rising population is another reason for the expansion of the chain, which has already opened about 450 restaurants domestically.

 

Even before the coronavirus outbreak, Japanese sushi chains were rapidly expanding abroad under pressure from the aging of the population at home, but the crisis pushed them to move even faster. It remains unclear when the industry can get back to normal at home.

 

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A Kura Sushi restaurant in Osaka.   © Kyodo

 

Akihiko Koga, CEO of Japan Food Culture, a Singapore and Tokyo-based consultancy for Japanese food franchises seeking expansion overseas, told Nikkei, "Many Japanese restaurants are now trying to diversify their business after the coronavirus outbreak." Before the pandemic, he said, chains mainly were operating in Japan, offering dine-in and takeout options, but now "they are forced to consider three options: domestic dine-in and takeout businesses and foreign markets," in particular Asian markets.

 

A complication is that each country and region has different coronavirus measures for restaurant operations. Koga said, "Taiwan, Singapore and Hong Kong are relatively recovering from the pandemic" in terms of the ease of operating food chains.

 

Speaking of his reasons for focusing on Asian markets, Sushiro Global Holdings CEO Koichi Mizutome said, "[Asia has] rice culture, and [Asian people] have a higher tolerance for raw fish." He added, "People understand Japan, and many people have traveled to Japan."

 

In contrast to Sushiro and Kura Sushi, another major Japanese chain, Genki Sushi, opened three restaurants overseas but closed nine from April to September, partly due to the pandemic.

 

Genki Sushi expanded into foreign markets starting in the early 1990s, almost two decades before Kura Sushi and Sushiro. Genki launched operations in Singapore in 1994 and opened restaurants in Hong Kong and Malaysia in 1995. But the competition is now intensifying.

 

Political uncertainties could also affect sushi chains. The massive pro-democracy protests in Hong Kong last year had a negative effect on some businesses and restaurants. Student rallies in Bangkok this year led to the shutdown of parts of the capital's commercial center. In South Korea, the nearest foreign market, Sushiro closed seven sushi bars in fiscal 2020 due to anti-Japan consumer sentiment as well as the impact of the pandemic.

 

But Sushiro CEO Mizutome said political uncertainties are "temporary," adding, "Food is an essential part of our lives."

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McDonalds breakfast in Thailand

 

Northern part of Bangkok, Rangsit, McDonald's restaurant
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Mr. MaDonald taking a break
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Order counter
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Diner
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McCafe
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Breakfast menu
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Normal menu
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My breakfast (note: each meal comes with 2 hash browns)
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https://asia.nikkei.com/Politics/Turbulent-Thailand/Germany-doubts-Thailand-s-king-will-return-to-Bavaria?utm_campaign=RN Subscriber newsletter&utm_medium=daily newsletter&utm_source=NAR Newsletter&utm_content=article link&del_type=1&pub_date=20201211190000&seq_num=16&si=44594

Germany doubts Thailand's king will return to Bavaria
Jewellers and gourmet food shops miss spending of his female companions

 

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Unprecedented open criticism of Thailand's King Maha Vajiralongkorn has prompted a public relations campaign by the palace to rehabilitate his image and make him appear less remote, but there have been no official announcements about whether he will in future reside in Thailand.    © Reuters

 

JENS KASTNER, Contributing writerDecember 11, 2020 17:15 JST

 

HAMBURG, Germany -- German media that took a close interest in Thailand's King Maha Vajiralongkorn while he was residing in a Bavarian mansion, the Villa Stolberg in Tutzing, have reported that he may not be coming back.

 

The king has spent virtually all his time as a resident of the large southeast German state since he acceded in 2016 following the death of his father, King Bhumibol Adulyadej.

 

King Vajiralongkorn returned to Thailand for a longer than normal visit to mark the fourth anniversary of his widely revered father's passing on Oct. 13, but ran into regular student-led street protests calling for a new government, amendments to the constitution and reform of the monarchy.

 

As Germany went into another round of COVID-19 lockdown, there were reports that the king would postpone his return to Germany until the end of December, but there has been no official comment on the matter.

 

The palace has meanwhile launched an unprecedented public relations campaign to make the king appear less remote from his subjects. He has walked through crowds of royalists, and even posed for selfies with supporters.

 

Holger Sabinsky-Wolf, a journalist for the Augsburger Allgemeine, a local daily, has closely followed King Vajiralongkorn. He recently reported that diplomatic sources have told him they do not expect the king to return to Germany.

 

The sources noted a significant development on Oct. 12 when an Airbus 345 of the Royal Thai Air Force departed from Munich for Bangkok with Prince Dipangkorn Rajismoti, the king's 15-year-old son, on board. The prince is the king's fifth son by his third wife, and was enrolled in a school in the Bavarian town of Geretsried that catered to his educational needs. 

 

Berliner Morgenpost, another daily, ran a story on Dec. 9 headlined: "Thai king has left Bavaria - will he ever be back?" It quoted officials who said the king had not previously been away from Bavaria for such a prolonged period. The article reported that local jewelers and gourmet food shops regretted his absence since "twenty accompanying business women" had also left and the significant revenues they generated had dried up.

 

The district office in Garmisch-Partenkirchen county, where the king and his entourage stayed in a luxury hotel during Germany's first COVID-19 lockdown earlier this year, reportedly asked the German foreign ministry in mid-November if the king would be returning, and how local authorities should handle matters if he did. According to Berliner Morgenpost, there has been no response.

 

King Vajiralongkorn has attracted considerable adverse publicity in Germany for maintaining an apparent harem in the 21st century, reportedly breaching COVID-19 regulations, possible inheritance tax evasion, and touch-and-go maneuvers in one of his personal aircraft at a small Hamburg airport.

 

Thousands of young protesters descended on the German embassy in Bangkok on Oct. 26 and delivered a letter personally to Georg Schmidt, the German ambassador, requesting an investigation of the king's life in Bavaria. Among other things, they wanted to know whether the king has been conducting Thai state affairs on German soil, which would violate German law, and if he is liable for inheritance tax in Germany.

 

The affair has triggered debate among German politicians, mostly Green and left wing. Answering questions in the Bundestag, the federal parliament, Foreign Minister Heiko Maas said authorities would "permanently review the goings-on and act immediately if things are found that we perceive to breach the law."

 

Sevim Dagdelen of the Left party is one of King Vajiralongkorn's strongest critics in the Bundestag. She told Nikkei Asia last month that the German government should stop accommodating the Thai head of state.

 

Dagdelen represents her party on the Bundestag's foreign affairs committee, and in that capacity asked parliamentary researchers to look into the legal ramifications of an unprecedented situation: a head of state residing virtually permanently in another country through personal choice. A report was completed on Nov. 18, and confirmed that King Vajiralongkorn has been residing in Germany on a private visa -- not a visa for state guests. That places matters in a legal grey area.

 

The researchers concluded that the sort of measures hinted at by Maas, including surveillance and administrative fines, would breach international law. The head of state personifies a country's dignity, they noted, and therefore enjoys diplomatic immunity -- even when traveling on a private visa.

 

As to the prohibition against conducting Thai state affairs on German soil, the researchers concluded that the German government could choose to tie the king's visa issuance to an explicit requirement that he appoint a regent in Thailand to act in his place there whenever he is absent in Germany.

 

That solution would be unlikely to appeal to King Vajiralongkorn who had the regency sections in the constitution modified after his accession. The changes were very controversially rubber stamped by an accommodating, military-appointed legislative assembly after Thailand's 20th constitution had been approved by national referendum in 2016. The revised constitution only received the necessary royal assent -- the king's signature -- in 2017. The changes made appointing a regent when he was abroad an option for the king -- and no longer a constitutional requirement.

 

However, lawmakers in Chancellor Angela Merkel's Christian Democratic Union remain more comfortable with the longstanding hands-off approach.

 

"I don't see why the issuing of a visa for the Thai king should be linked to Thailand's domestic affairs, and I think the foreign ministry has gone out on a limb," Mark Hauptmann, a lawmaker from the ruling Christian Democratic Union regarded as an 'Asia hand,' told Nikkei last month.

 

"The foreign ministry should keep a low profile on this issue," Hauptmann said.

 

Government spokespeople in Bangkok had not responded to Nikkei by the time this article was posted.

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This is a modern Isaan restaurant in Siam Paragon known as Chili

 

Mordern yet old decor, really beautiful restaurant

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Passion fruit smoothie (passion fruit is known as saowarot in Thai)
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Raw crab somtam
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Lunch spread
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Starters in a basket
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Had a great and wholesome breakfast this morning - Gaeng Kheow Wan & Khanom Jeen

 

The stall
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Boss preparing takeaway breakfast
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This is fermented rice noodle "gaeng kheow wan"
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Breakfast is served

 

 

Very generous with the chicken, this meal is only 50 baht or $2.30.
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Great pics as always, thanks for sharing!

 

Merry Christmas and happy holidays, TS! 

  • Wahaha 1

Good content = Topics that genuinely encourages and stimulates interaction/banter. 

 

Bad content = Clickbaits, brag posts and social media news feed that nobody gives a flying fuck about + waste of server storage space

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