Laos to allow expatriates to stay longer
(KPL) Overseas Laotians are likely to enjoy a longer stay in Laos, according to a draft decree issued by the Lao Ministry of Foreign Affairs? Foreign Relations Department.
According to the draft decree, overseas Laotians will be allowed to stay up to nine months in Laos instead of just 30 days, currently applying for a tourist visa.
The draft decree will be submitted to the government for approval. The move is aimed at encouraging overseas Laotians to contribute to the national construction and development.
The document also suggests granting overseas Laotians land ownership rights and streamlining procedures for them if they marry a Lao citizen.
Under the draft decree, Lao expatriates will enjoy corporate tax cuts when investing in their home country. It is estimated that at present, there are 60,000 Laotian expatriates living overseas.
The National Assembly?s Standing Committee had earlier approved an amended law which required Lao people overseas to invest at least 500,000 USD instead of 300,000 USD in Laos to be able to purchase land and property. The changes are part of amendments made to the Law on Investment Encouragement that was endorsed in July 2009.
The Lao Ministry of Planning and Investment said a complete revised law on investment encouragement will also be presented to the State President.
The law, after being approved, will have a strong impact on the local property market and promote Lao economy. The country is expected to be out of the list of underdeveloped nations by 2020.
Posted by samakomlao
on 10:17 AM. Filed under
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US$500,000.00 that is a lot of money. I don't think any Lao expatriates has that much money to invest in Laos. Let alone they can hardly save US$100,000.00
I totally agree with Anonymous comments, I barely have $500 in bank account. I can't even save $100,000 this life time.
It's getting better and better all the time. Marrying laos girl
and get the right to buy the land on the top of it; what a deal!!!
I am getting horny just thinking about it. They have better pass
the law soon before I goes crazy........
How much does it cost for a tourism visa to Laos?
My uncle went back to live in Laos since 2004 till now, he's not come back to the U.S.since then. He isn't U.S. citizen, only permanent resident. How come Laos authority allowed him to stay for that long? May be he pay big bucks to someone to stay.
you and your 5 friends , can joint investment
$500,000.00 if you want too
If I have 500000 $ so i can stay a good life in AUSTRALIA if leave money in the Bank get 4% interest ,I don't what The Lao goverment think that a lot money ,no body safe up this kind money,because in oversea is very hard to get corruption.
500 000$ in Lao you can buy 10 houses plus 2 Prado,but in sydney you can borrow up to 300 000$ only and have to pay morgate up to 25 year.An you has to be get very good income,so forget it to get 499 999$ go back to mother land,I left Lao empty hand is lucky I can bring my family back to Lao holiday one in my life....?????