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Timor-Leste approves new Corporate Recovery and Insolvency Code
Law No. 9/2025, of 22 December, approved the Corporate Recovery and Insolvency Code (CREI), establishing, for the first time, a structured insolvency and corporate recovery framework in Timor-Leste, aligned with international standards. The CREI applies to both legal entities and individuals owning companies and establishes a dual system based on either company recovery or asset liquidation, with the aim of satisfying creditors while prioritising business continuity whenever possible. The new regime emphasises recovery, simplification and reduced court intervention, creates the Recovery and Insolvency Office (BRI), and introduces mechanisms such as the Reorganisation and Insolvency Proceedings (PRI), creditor negotiation procedures and a cross-border insolvency regime. The CREI will enter into force 180 days after publication, subject to the approval of supplementary legislation.

Read the full article here [available only in Portuguese].
 
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Notícias Relacionadas
Lukeno Ribeiro Alkatiri is the author of the article ‘The challenge facing Timor-Leste and new energy opportunities’
2026-04-24
Lukeno Ribeiro Alkatiri is the author of the article ‘The challenge facing Timor-Leste and new energy opportunities’

In an article published in "Jornal Económico", Lukeno Ribeiro Alkatiri discusses the energy transition as one of the key issues on the global agenda.
"As countries seek to reduce greenhouse gas emissions and diversify their energy sources, specific challenges arise in economies that are heavily reliant on fossil fuels. Within the Portuguese-speaking world, Timor-Leste presents a particularly interesting case, as it combines a heavy reliance on oil and gas with a growing interest in renewable energy solutions."

Read the full article here [available only in Portuguese].

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New Competition Law in Timor-Leste
2026-04-10
New Competition Law in Timor-Leste
Law No. 1/2026, of 25 March, establishes the Competition Law framework in Timor-Leste, promoting free competition through the prohibition of restrictive practices, the introduction of a mandatory merger control regime, and enforcement by a new competent public authority with supervisory and sanctioning powers (with the Central Bank of Timor-Leste acting in the financial sector); it applies, in principle, to all economic activities, with oil, natural gas and minerals excluded, prohibits agreements and abuses (including dominance, economic dependence and purchasing power), allows efficiency-based exemptions, requires prior notification of certain concentrations, provides for market studies and fines of up to 10% of turnover, will enter into force on 21 September 2026, and its effectiveness will depend on the establishment of the authority, with companies advised to assess its impact on their activities.

See our Legal Alert here.
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Guide to Doing Business in Timor-Leste
2026-03-02
Guide to Doing Business in Timor-Leste
Timor-Leste is Asia's youngest nation, having restored its independence in 2002. Since then, it has shown remarkable resilience, pursuing economic development with a young and dynamic workforce, a rich cultural heritage, and growing business potential.

Timor-Leste has significant prospects for economic growth, particularly in the oil and gas and critical minerals sectors. While oil and gas account for 90% of the country’s total exports, new opportunities are emerging to further develop its hydrocarbon resources. Projects such as Chuditch and Greater Sunrise reinforce Timor-Leste’s role in energy production and supply within the APAC region. At the same time, the global demand for critical minerals – such as lithium, cobalt, and rare earth elements – places the country in a strategic position to integrate into the global supply chain. Although its mining sector is still developing, partnerships with international companies are driving the exploration and extraction of these valuable resources. Since 2008, Timor-Leste has been a member of the Extractive Industries Transparency Initiative, ensuring a legal framework that supports adequate reporting.

Additionally, agribusiness plays a crucial role in the country's economic diversification, with coffee accounting for 7% of total exports. The country’s rich soil and favourable climate offer opportunities for expanding agricultural production, positioning Timor-Leste as a key supplier for the region.
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