Lao expatriates are likely to enjoy a longer stay in their home countryaccording to a draft decree issued by the Lao Ministry of Foreign Affairs’Overseas Relations Department.
According to the draft decree, Laotianpeople overseas will be allowed to stay up to nine months in Laos instead ofjust 30 days, currently applied for a tourist visa.
The draft decreewill be submitted to the government for approval. The move is aimed atencouraging overseas Lao to contribute to the national construction anddevelopment.
The document also suggests granting Lao expatriates landownership rights and streamlining procedures for them if they marry a Laocitizen.
Under the draft decree, Laos’s expatriates will enjoy corporatetax cuts when investing in their home country. It is estimated that at present,there are 60,000 Laot expatriates living overseas.
The NationalAssembly’s Standing Committee had earlier approved an amended law which requiredLao people overseas to invest at least 500,000 USD instead of 300,000 USD inLaos to be able to purchase land and property.
The changes are part ofamendments made to the Law on Investment Encouragement that was endorsed in July2009.
The Lao Ministry of Planning and Investment said a complete revisedlaw on investment encouragement will also be presented to the State President.
The law, after being approved, will have a strong impact on the localproperty market and promote Laos economy. The country is expected to be out ofthe list of underdeveloped nations by 2020./.
According to the draft decree, Laotianpeople overseas will be allowed to stay up to nine months in Laos instead ofjust 30 days, currently applied for a tourist visa.
The draft decreewill be submitted to the government for approval. The move is aimed atencouraging overseas Lao to contribute to the national construction anddevelopment.
The document also suggests granting Lao expatriates landownership rights and streamlining procedures for them if they marry a Laocitizen.
Under the draft decree, Laos’s expatriates will enjoy corporatetax cuts when investing in their home country. It is estimated that at present,there are 60,000 Laot expatriates living overseas.
The NationalAssembly’s Standing Committee had earlier approved an amended law which requiredLao people overseas to invest at least 500,000 USD instead of 300,000 USD inLaos to be able to purchase land and property.
The changes are part ofamendments made to the Law on Investment Encouragement that was endorsed in July2009.
The Lao Ministry of Planning and Investment said a complete revisedlaw on investment encouragement will also be presented to the State President.
The law, after being approved, will have a strong impact on the localproperty market and promote Laos economy. The country is expected to be out ofthe list of underdeveloped nations by 2020./.
