Under the new Land and Building Tax Act B.E. 2562 (2019), individuals and juristic persons who have ownership, possessory, or usage rights over land or buildings (including condominium units) as of January 1 each year will be required to pay land and building tax to the local administrative authorities. This tax took effect on January 1, 2020.Deadline Postponed for 2020 Land and Building Tax Payment

Attorneys from Tilleke & Gibbins’ offices in Vietnam have contributed the Vietnam chapter to the Foreign Investment Review 2020, a global guide to the legal and regulatory environment for foreign investment in 19 jurisdictions worldwide. Published and distributed by Getting the Deal Through, the guide discusses law and policy on oversight of foreign investment, regulatory frameworks, procedural requirements, and other important stipulations for foreign investors.

Attorneys from Tilleke & Gibbins’ office in Yangon have contributed the Myanmar chapter to the Foreign Investment Review 2020, a global guide to the legal and regulatory environment for foreign investment in 19 jurisdictions worldwide. Published and distributed by Getting the Deal Through, the guide discusses law and policy on oversight of foreign investment, regulatory frameworks, procedural requirements, and other important stipulations for foreign investors.

Dino Santaniello, head of Tilleke & Gibbins’ Vientiane office, has contributed the Laos chapter to the Foreign Investment Review 2020, a global guide to the legal and regulatory environment for foreign investment in 19 jurisdictions worldwide. Published and distributed by Getting the Deal Through, the guide discusses law and policy on oversight of foreign investment, regulatory frameworks, procedural requirements, and other important stipulations for foreign investors.

Attorneys from Tilleke & Gibbins’ office in Phnom Penh have contributed the Cambodia chapter to the Foreign Investment Review 2020, a global guide to the legal and regulatory environment for foreign investment in 19 jurisdictions worldwide. Published and distributed by Getting the Deal Through, the guide discusses law and policy on oversight of foreign investment, regulatory frameworks, procedural requirements, and other important stipulations for foreign investors.

The latest update to the Laos chapter of Thomson Reuters’ Practical Law guide to insurance and reinsurance has been published, written by legal practitioners from Tilleke & Gibbins’ Vientiane office. The guide presents a Q&A-style overview of insurance and reinsurance laws and practices in major jurisdictions around the world.

In November 2019, the National Assembly of Vietnam issued a new version of the Labor Code, which serves as the principal legislation on employment and labor relationships in Vietnam, covering domestic and foreign employers and employees. The changes in the new law are more incremental than sweeping, and generally serve to close loopholes and clarify vague provisions in the existing Labor Code of 2012.

The  rapidly growing middle class in Southeast Asia is bringing with it increased household wealth, increased consumption, and increased investment. With that increase, the commercial banking sector has seen a boom in the more economically developed countries of Southeast Asia—especially in Thailand. A select few foreign banks have been very successful in Cambodia, Laos, Myanmar, and Vietnam (CLMV) for many years, but as many banks seek to replicate their Thai success in these new markets, the field looks likely to become much more crowded in coming years.