Laos Bans Foreign Use of 'Individual Businesses', Cracks Down on Proxy Holding
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Insights by Echo AI
Laos has issued strict regulations against foreign investors using 'individual businesses' and proxy holding. The Department of Industry and Trade in several provinces, including South Talae, Xieng Khouang, and Savannakhet, has issued red-headed documents (Nos. 2148, 2149, 2150, 2168) banning these practices. A total of 122 enterprises have had their business licenses seized. This move seems to target Chinese people and aims to prevent practices like 'just hanging a sign', 'using someone else's license', or 'inflating registered capital'.
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