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Rajah & Tann Regional Round-Up

your snapshot of key legal developments in Asia

Issue 4 - Oct/Nov/Dec 2017


LAO PDR

Minimum Registered Capital Requirement for Foreign Investors in General Business Companies Abolished

On 7 November 2017, the Ministry of Industry and Commerce ("MOIC") issued Notification No. 2633/Cabinet/MOIC ("Notification") abolishing the minimum registered capital requirement for foreign investors in general business companies. This follows the enactment on 19 April 2017 of the new Law on Investment Promotion (No. 14/NA, dated 17 November 2016) ("new LIP"), which amended the previous Law on Investment Promotion (No. 2/NA, dated 8 July 2009) ("previous LIP"). The new LIP introduced a number of amendments to facilitate foreign investment in Laos, including providing a seamless process for business applications and issuance of licenses, as well as granting various incentives for certain business activities. It did not, however, provide clarification on the minimum registered capital requirement for foreign investors, which, pursuant to the previous LIP, was set at US$120,000 (about LAK 1 billion). MOIC released the Notification to address this issue.

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Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice.

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