Inventory of Business Licenses

General information
Name of formality	Permit to Open Offshore Bank Account
Type of formality	Other
Date of last modification	08.09.2017
Responsible Authorities	Monetary Policy Department
LSIC	All sectors
Who should complete this business formality?	Resident of Lao PDR who wish to open an offshore account
Qualifications needed by the business to get the formality
Additional Comment

LEGAL FRAMEWORK
Name	Number	Date	Comment
Decision on Opening Bank Account, Money Transfer and Importation (to) and Exportation of Cash in Lao PDR	454/BOL	30.05.2019	Article 07

REQUIRED DOCUMENTS FORMALITIES - First time
Name	Type	Comment
Certificate of Annual Tax Payment	Formality
Other Related Documents	Confirmative act
Application Form	Confirmative act	by the BOL
Business Operating License	Confirmative act	issued by the relevant sector
Enterprise Registration Certificate	Confirmative act	or Investment License
Financial Status Certificate	Confirmative act	or Statement

REQUIRED DOCUMENTS FORMALITIES - Renew
Name	Type	Comment

LIST OF ATTACHED DOCUMENTS FOR FIRST TIME APPLICATION
Type of document	Document Name
Application form	Application Form for Offshore Bank Account Permit

 

Mean of presentation
Means of presentation	At the Authority Offices
Address of authority	Monetary Policy Department, Bank of Lao PDR
Processing Time (Day(s))	10

 

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	0.00	100000.00	0.00	100000.00
Comments	according to the comments of the authority

 

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
Certificate of Annual Tax Payment
Other Related Documents
Application Form	by the BOL
Business Operating License	issued by the relevant sector
Enterprise Registration Certificate	or Investment License
Financial Status Certificate	or Statement

 

STATISTICS (Issue or/and renewed number)
Year	Issued	Renewed
2016	33	0
2017	37	0
2018	29	0
2019	19	0
2020	2	0