eOasis is Rajah & Tann Asia’s legal publications portal, where you can view updates on the latest key legal and regulatory developments in Asia, prepared from a practitioner's viewpoint.

What's New on eOASIS

Sea-change in Singapore's Funds Industry – the Birth of Variable Capital Companies
On 14 January 2020, the Variable Capital Companies Act 2018 ("VCC Act") and its subsidiary legislation came into force to introduce a new legal framework for variable capital companies ("VCCs"). The VCC is a new corporate structure for investment funds vehicles, with the goal of achieving Singapore's drive to be an Asian hub for fund management and fund domiciliation.

The Variable Capital Companies (Miscellaneous Amendments) Act ("VCCMA Act"), which seeks to amend the Income Tax Act, the Goods and Services Tax Act and the Stamp Duties Act to provide for the tax treatment for VCCs, partially came into force on 15 January 2020. The provisions in the VCCMA Act that will amend the insolvency provisions in the VCC Act have yet to come into force.

This Client Update provides an overview of a VCC's features and compliance requirements with reference to the VCC Act, its subsidiary legislation, and the VCCMA Act.
17 Jan 2020 | Singapore
A New Era of Foreign Investment Regulatory Regime in China: State Council of China Issues Implementation Regulation of Foreign Investment Law
Further to the new PRC Foreign Investment Law ("Foreign Investment Law") which was passed on 15 March 2019 and has come into effect since 1 January 2020, the State Council of China promulgated the Regulation on Implementation of the Foreign Investment Law (中华人民共和国外商投资法实施条例, the "Implementation Regulation") on 31 December 2019, which has also come into effect since 1 January 2020. We set out in this Update some salient points of the Implementation Regulation.
17 Jan 2020 | Singapore
Opening for Application for Mineral Exploration License of New Concession Areas

On 10 January 2020, the Ministry of Mines and Energy ("MME") issued Announcement No. 001 ME.DIM.SCN on the Opening for Application for Mineral Exploration License of the Concession Areas ("Announcement"). The MME welcomes Cambodian or foreign legal entities to bid for mineral exploration license in the eight new concession areas identified in the Announcement.

16 Jan 2020 | Cambodia
First Stage of Resource Sustainability Act Comes into Force
The Resource Sustainability Act ("Act") was passed in Parliament on 9 September 2019, and forms part of Singapore's Zero Waste Masterplan. The Act is set to be implemented incrementally from 2020 to 2025, and on 1 January 2020, the first stage of the Act came into effect. This Update takes a look at the parts of the Act which have come into force, as well as the timeline for the implementation of the remainder of the Act.
09 Jan 2020 | Singapore