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Property agents enjoy sparking introduction to Emerald Palace

Real-estate agents enjoy the familiarization
visit to Emerald Palace at Cosy Beach.

Local property developers TPME recently held an agents’ evening at their Emerald Palace development to showcase the latest progress of the project, which is scheduled for completion on November 15, at which time unit owners can begin moving into their condos. TPME has sold over 65 per cent of the units on site and will retain 35 per cent of investment for rental income.

The evening was a great success with many of the attending agents bringing new clients to the condominium to appreciate the facilities on offer and the high standards of workmanship and finish of the project. The agents enjoyed food and drink and an exchange of ideas and current trading was the main topic of conversation.

The appealing aspects of the Emerald Palace development are the hardwood floors, UPvC windows and the upper level library with outside garden. The mid atrium allows cool air to circulate in the core of the building and with the ground floor water feature it gives a temperate feeling to residents even when the sun is beating down outside.

The development has an outside swimming pool with pool bar and sauna plus a sala with ample sun-loungers for those who wish to soak up some rays.

On the ground floor there is a fitness centre and Thai massage facility, the equipment is the latest in technology and all owners will be able to tone up their bodies whilst enjoying a relaxing massage after a hard workout.

On the same level is a restaurant and bar for the owners’ use and for those special occasions a private dining room can provide seating for parties of up to 12 diners. This same room can double up as a small seminar room.

The ground floor also incorporates large terraces for relaxation with plenty of cover for those hot sunny days.

This artist’s render shows the completed reception area at the project.

The reception area will be a haven for those just wishing to catch up with the day’s news and events with the assistance of the courteous Emerald Palace staff who will always be on hand to deal with any tourist enquiries.

Emerald Palace has 79 apartments in total, with 60 studios, 17 one bedroom, and 2 two bedroom units. Many are available for rental and with the level of facilities on offer it’s fair to say that demand will be high, with many of the upper floors having great sea-views.

The project is located within 500 meters of the Cozy Beach Hotel and the beautiful Cosy Beach area, with its boutique shopping, restaurants and shops to keep the owners fully provided for.

The agents’ evening at Emerald Palace ended with a short presentation by TPME Managing Director Richard Haughton on the future developments of the group and an introduction to his business partners, Chairman Nick Pearce and CEO Paul Salisbury.

Note: For any enquiries about the Emerald Palace development or TPME Group, please email [email protected].


Raimon Land and Kasikorn Bank offer one-time promotion for award-winning Northpoint

Raimon Land Chief Operating Officer Kitti Tungsriwong and Kasikorn Bank First Senior Vice President Chatchai Payuhanaveechai team up to offer an exceptional promotion for prospective Northpoint Pattaya customers.

Luxury property developer Raimon Land has just announced a new promotion with Kasikorn Bank (KBank), reserved for buyers of the last remaining units at Northpoint in Pattaya.

In this exclusive offer, buyers of selected 1-bedroom and studio units priced below 10 million baht can benefit from 100% financing with KBank and receive approval in just three days, upon payment of the 100,000 baht booking fee.

In addition, Raimon Land will waive common area fees for the first year, as well as absorb the sinking fund and the transfer fee. For qualified buyers, installment payments can start after one year, and yet allow them to move in immediately to enjoy the world-class amenities and the incomparable views offered at Northpoint.

“Raimon Land is delighted to be working alongside Kasikorn Bank, one of Thailand’s leading financial institutions, enabling us to offer our buyers with this Fee-Free Northpoint promotion. This generous payment promotion will create opportunities for more people to join the elite group of homeowners in Pattaya’s most family-oriented neighbourhood,” said Kitti Tungsriwong, Raimon Land Chief Operating Officer.

“Northpoint’s location along the tranquil Wong-Amat beach makes this the ideal address for a pleasant weekend away from the city,” he added.

Chatchai Payuhanaveechai, First Senior Vice President, Kasikorn Bank commented, “We are pleased to be Raimon Land’s exclusive partner in this promotion. Together we will make it quick and easy for new owners to receive the keys to their luxury beachfront home.”

From now until December 31, Northpoint buyers can avail themselves of this great deal that will fast track their dreams to move into a brand-new unit immediately.


Legal Signs: Part I

Duensing Kippen Tax and Law

If you started a business here in Thailand, you probably did so by setting up a Thai company limited. All Thai limited companies are required to have and to report to the authorities a registered address, pursuant to Section 1148 of the Civil and Commercial Code (the “CCC”). And, pursuant to Section 14 of The Offences Relating to Registered Partnerships, Limited Partnerships, Limited Companies, Associations and Foundations Act (1956) and as amended (the “Juristic Persons Offences Act”) if a Thai limited company does not comply with Section 1148 of the CCC, such company will be subject to a fine of up to Thai baht twenty thousand. In addition, the director of such a company limited will be personally liable for another fine in an amount up to Thai baht fifty thousand, under Section 25 of the Juristic Persons Offences Act.

The requisite registered address need not be evident to all or anyone for that matter, it need only be an actual address and registered. However, if the business your limited company conducts requires its office location to facilitate its business activities and interactions with others, then chances are you put up a sign at your company’s registered address to market your business and let the public know where your place of business is located.

When you did erect a sign, you may have been told, and thought, that you must comply with two very common misnomers. These misnomers, in our opinion, are based on misunderstandings of the relevant law. The first misnomer is that you must put “company, limited” or some abbreviation thereof on your sign. In this Part I of our two part article we have a closer look at this first common misunderstanding. And in order to understand this legal misnomer we must, as always, turn to the actual relevant law.

So is the following assertion true? - “You must have ‘company, limited’ on your business sign.”

Quite simply, it is not. But why do so many seem to think it is true? Most certainly it is due to Section 5 of the Juristic Persons Offences Act which states, in pertinent part, the following: “If a limited company, except one operating a bank, expresses its name in its commercial seal, sign, brochure, letter, notification, or any other document relating to its business ... in a language other than Thai, without words or phrases that mean ‘limited, company ‘... (such company) shall be liable to a fine not exceeding Thai baht twenty thousand and a fine of Thai baht five hundred per day until (such company) has complied with the requirements under this Act.”

Note well, however, that although the Juristic Persons Offences Act requires a Thai limited company to include words communicating that it is, indeed, a limited company when it expresses its company name in a business sign, it does not require that the company use its company name in any business sign it puts up. In other words, a business run by a Thai limited company would be just fine and legally compliant by putting a business sign with, for example, its mere logo, without its company name.

It should also be noted that the opposite holds true as well. Under Section 6 of the Juristic Persons Offences Act, if your enterprise is not a registered limited company and you proffer its name in wording that implies that it is a limited company, then you will be subject to a fine of Thai baht twenty thousand and a daily fine of Thai baht five hundred for each day until you cease doing so.

Therefore, if you put a sign at your office, it is not true that: “You must have ‘company, limited’ on your business sign”.

We will examine the second common legal misnomer regarding business signs in our next column.

Duensing Kippen is a multi-service boutique law firm specializing in property and corporate/commercial matters and is also the only such firm in Thailand that compliments its property and corporate/commercial legal expertise with a core tax law practice. Duensing Kippen can be reached at: [email protected] or for information, visit them at: www.dktaxandlaw.com


HEADLINES [click on headline to view story]

Property agents enjoy sparking introduction to Emerald Palace

Raimon Land and Kasikorn Bank offer one-time promotion for award-winning Northpoint

Legal Signs: Part I

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