Alert | Laos: New License Requirement in Lao Payment Services Sector
ALERT June 12, 2020 Laos: New License Requirement in Lao Payment Services Sector Introduction Businesses are adapting to survive in this ongoing global health crisis by employing among others, online business models. This growth of digital economy and e-commerce business has led to an increase use of online payment settlement instruments and devices worldwide. In […]
Alert | Laos: Snapshot of the Lao Civil Code 2020
ALERT June 2, 2020 Laos: Snapshot of the Lao Civil Code 2020 On 11 May 2020, the Civil Code No. 55/NA dated 6 December 2018 (“Civil Code”) was published in the Lao Official Gazette, to be effective from 26 May 2020. The Civil Code replaces and repeals civil and commercial laws containing similar provisions, including […]
Alert | Laos: Lao PDR Updates on the COVID-19 Pandemic
ALERT April 3, 2020 Laos: Lao PDR Updates on the COVID-19 Pandemic Responsible Authorities Regulations and notifications in response to COVID-19 pandemic have been issued in the past few weeks by several governmental authorities, such as the Ministry of Finance (“MOF”) and the Prime Minister’s Office (“PMO”). It is however important to note that Lao […]
Alert | Laos: The New Income Tax Regime in Lao PDR under the Law on Income Tax
ALERT March 6, 2020 Laos: The New Income Tax Regime in Lao PDR under the Law on Income Tax Introduction In June 2019, National Assembly (“NA”), the legislative branch of the State, passed a motion approving the adoption of the Law on Income Tax No. 67/NA dated 18 June 2019 (“Law on Income Tax”). This […]
Alert | Laos: Entering the Lao Import-Export Market as a Registered Foreign Trader
ALERT November 28, 2019 Laos: Entering the Lao Import-Export Market as a Registered Foreign Trader Introduction Until recently, importation and exportation business in Lao PDR remains restrictive, particularly due to the existence of various trade barriers, including the requirement for foreign investor to incorporate locally with high registered capital. In order to resolve this issue, […]
Alert | Laos: New Regulatory Framework for Commercial Banks
ALERT September 12, 2019 Laos: New Regulatory Framework for Commercial Banks Introduction The Lao National Assembly adopted a resolution approving the Amended Law on Commercial Bank No. 56/NA (“Amended Law on Commercial Bank”) on 7 December 2018 which was published in the Lao official gazette on 7 June 2019. The Amended Law on Commercial Bank […]
Alert | Laos: The New Enterprise Registration Process
ALERT June 7, 2019 Laos: The New Enterprise Registration Process Introduction The World Bank Group recently ranked Lao PDR as one of the most complicated destinations to start and operate a business. This served as a stimulus for Lao PDR to revisit one of the key components of its investment environment, namely, the difficulties in […]
Alert | Laos: New Penal Code Implemented in Laos
ALERT November 30, 2018 Laos: New Penal Code Implemented in Laos The Lao Government has published the new Penal Code, which takes effect on 1 November 2018. The new law aims to ensure that penalties for offences are harmonised and is intended to make it easier for the relevant authorities, such as investigative officials, prosecutors, […]
Alert | Laos: Demystifying Laos’ International Arbitration Scene
ALERT August 14, 2018 Laos: Demystifying Laos’ International Arbitration Scene The Lao People’s Democratic Republic (“Laos”) has been credited as one of East Asia’s fastest growing economies by the World Bank. Bounded to the north by China, to the northeast and east by Vietnam, to the south by Cambodia, to the west by Thailand, and […]
Alert | Laos: FAQs: Ownership of Land and Property in Laos
ALERT June 21, 2018 Laos: FAQs: Ownership of Land and Property in Laos Land in Laos is considered as part of the national heritage and as such is deemed to be owned by the national community. In terms of ownership the Government of Lao PDR (“GOL”) grants its citizens the right to use land, or […]