Inventory of Business Licenses

General information
Name of formality	Credit and Savings Cooperative Operating License
Type of formality	License
Date of last modification	13.07.2020
Responsible Authorities	Non Bank Financial Institution Supervision Department
LSIC	K - Financial and insurance activities
Who should complete this business formality?	Individuals, savings groups, village development funds or village banks or consolidation of savings groups
Qualifications needed by the business to get the formality	Individuals, savings groups, village development funds or village banks or consolidation of savings groups
Additional Comment

LEGAL FRAMEWORK
Name	Number	Date	Comment
Decision on Credit and Savings Cooperatives	695/ຶ້ໜ?	06.12.2021

REQUIRED DOCUMENTS FORMALITIES - First time
Name	Type	Comment
Application Form	Confirmative act	form by BOL
Enterprise Registration Certificate	Confirmative act
Internal Regulations	Confirmative act	use a format by the BOL
Power of Attorney (in case the applicant appoints the attorney to proceed with the application)	Confirmative act
Minutes of Appointment of the Board of Directors	Confirmative act
Location Confirmation of Enterprise	Confirmative act	use a format by the BOL attach with the Location Map of the office, photos of buildings and surroundings (in case the office is rent, it is required to submit a Lease Agreement for at least 1 year)
Minute of Meeting of the Founders	Confirmative act
Receipt for Fee Payment	Confirmative act	after submitting the documents
Feasibility Study	Confirmative act
Joint Venture Agreement / Partnership Agreement / Incorporation Agreement	Confirmative act
Bank Manual	Confirmative act

REQUIRED DOCUMENTS FORMALITIES - Renew
Name	Type	Comment

 

Mean of presentation
Means of presentation	At the Authority Offices
Address of authority	Non Bank Financial Institution Supervision Department, Bank of Lao PDR
Processing Time (Day(s))	30

 

RENEWAL INFORMATION
Does the formality have a validity or an expiration date?	NO
How long will the formality be valid for? (in months)	0
What is the process and conditions to get the formality?
What is the process and conditions to renew the formality?

 

ISSUING FEES
Has application fees?	Service fees	Certificate fees	Application fees	Total fees
YES	500000.00	0.00	0.00	500000.00
Comments	The processing fee is 0.5% of the registered capital

 

RENEWAL FEES
Has renewal fees?	Service fees	Certificate fees	Renewal fees	Total renewal fees
NO	0.00	0.00	0.00	0.00
Comments

   

REQUIRED DOCUMENTS
Document Name	Comment
Application Form	form by BOL
Enterprise Registration Certificate
Internal Regulations	use a format by the BOL
Power of Attorney (in case the applicant appoints the attorney to proceed with the application)
Minutes of Appointment of the Board of Directors
Location Confirmation of Enterprise	use a format by the BOL attach with the Location Map of the office, photos of buildings and surroundings (in case the office is rent, it is required to submit a Lease Agreement for at least 1 year)
Minute of Meeting of the Founders
Receipt for Fee Payment	after submitting the documents
Feasibility Study
Joint Venture Agreement / Partnership Agreement / Incorporation Agreement
Bank Manual

 

STATISTICS (Issue or/and renewed number)
Year	Issued	Renewed
2016
2017