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www.axis-legal.com

Aris Gulapa, Oliver Baclay, Jr. and Marie Yasmin Sanchez, Gulapa Law and Gulapa & Baclay

www.mhmjapan.com

Mariangela Pellerano and Caroline Bonó, Pellerano & Herrera

Ruby Asturias and Martin Barillas, Pacheco Coto

Efforts to establish an active distressed debt market have raised concerns over security and loan recovery

Foreign investors are now permitted to run companies themselves in a bid to attract investment and boost growth

Authorities are intent on changing the corporate law framework in line with modern practices

On June 12 2017, a new regime for the exchange of information with foreign entities on tax matters was published in the Macau Official Gazette – Law 5/2017. Subsequently, on June 28 2017, the Executive Order 211-2017 was gazetted, approving the Common Reporting Standard and Due Diligence Procedures. These rules will now govern the exchange of information by Macau SAR in the carrying out of international agreements and conventions to which it is a party on double taxation and/or on prevention of tax evasion.

A pressing issue in Japan is the ageing population combined with the diminishing birth rate. The Japanese government has been in the dark on how to handle these two elements. At first glance, these two concerns appear to present conflicting demands, namely (i) expanding health and medical services for the elderly, while at the same time; and (ii) minimising the use of public funds for those health and medical services, as a means of tackling the issue. Therefore, in order to deal with this problem, the Japanese government has drawn attention to the use of private resources, such as private funds, including Japanese real estate investment trusts (J-Reits), to provide sufficient monetary resources to the health and medical care industries through the acquisition of their assets.