License for Investment in Concession Business
ໃບອະນຸຍາດລົງທຶນ ສໍາລັບ ທຸລະກິດສຳປະທານ
| General information | ||
|---|---|---|
| Type of formality | Other | |
| Date of last modification | 19.01.2018 | |
| Responsible Authorities | Investment Promotion Department
|
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| LSIC | A - Agriculture, forestry and fishing, B - Mining and quarrying, D - Electricity, gas, steam and air conditioning supply, K - Financial and insurance activities, All sectors | |
| Who should complete this business formality? |
Any legal entity that intends to invest in concession activities, which are activities in which the investor is granted a concession from the state to develop and operate certain types of businesses (i.e. land concession, aviation business, mining business, and hydropower development projects). |
|
| Qualifications needed by the business to get the formality |
1. The applicant shall have experiences and successes on business operations proven by the relevant agencies; and shall have a financial status and source of funds endorsed by the domestic or foreign financial institutions; 2. The applicant shall meet the required qualifications and conditions specified for each type of business as defined in relevant laws (i.e. hydropower, mining). 3. The enterprise shall have the registered capital of not less than 30 percent of the total capital. |
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| Additional Comment | ||
| LEGAL FRAMEWORK | ||||
|---|---|---|---|---|
| Name | Number | Date | Comment | |
| Law on Promotion of Investment (Revised) | 14/NA | 17.11.2016 | Chapter 4 Concession Investment (Article 41 to Article 46) Article 52 | |
| REQUIRED DOCUMENTS FORMALITIES - First time | ||||
|---|---|---|---|---|
| Name | Comment | |||
| Copy of Passport of the Managing Director | ||||
| Power of Attorney (in case the applicant appoints the attorney to proceed with the application) | ||||
| Court Clearence | ||||
| Copy of Enterprise Registration Certificate | ||||
| Curriculum vate | ||||
| Joint Venture Agreement | ||||
| Financial Certification and active bank balance statement of at least 90 days backwards | ||||
| Feasibility Study | ||||
| Environmental and Social Impact Assessment | ||||
| Copy of ID card or Family book of Managing Director | ||||
| Article of Association | ||||
| REQUIRED DOCUMENTS FORMALITIES - Renew | ||||
|---|---|---|---|---|
| Name | Comment | |||
| Mean of presentation | ||
|---|---|---|
| Means of presentation | At the Authority Offices | |
| Address of authority | Investment Promotion Department, Ministry of Planning and Investment | |
| Processing Time (Day(s)) | 65 | 1. The Single Window Service shall submit the application to the related and local agencies within 2 working days in order to review and respond within 30 working days; 2. After receiving approval comments from the related agencies, the Single Window Service shall submit it to the Committee for Promotion and Management of Investment in order to consider it within 30 working days; 3. After getting the general approval from the Committee, the Single window Service will hold a negotiation meeting about the Memorandum of Understanding or contract, and then the investor shall sign the MOU or contract; 4. After the concession contract is agreed (signed), the Single Window Service shall issue the license within 3 working days. |
| RENEWAL INFORMATION | ||
|---|---|---|
| Does the formality have a validity or an expiration date? | YES | |
| How long will the formality be valid for? (in months) | 600 | |
| What is the process and conditions to renew the formality? | The investment period in the concession activities is based on the type, size, value of the investment, conditions, the feasibility study as defined in relevant laws; but not more than 50 years, and it can only be extended with the approval from the Government or the National Assembly or the Provincial People's Assembly within the jurisdiction. | |
| ISSUING FEES | ||||
|---|---|---|---|---|
| Has application fees? | Service fees | Certificate fees | Application fees | Total fees |
| YES | 0.00 | 320000.00 | 50000.00 | 370000.00 |
| Comments |
Relevant laws (including the presidential Ordinance) do not define fees and service charges, but the authorities inform that the application fee and the service charge are 370,000 LAK in total. |
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| RENEWAL FEES | ||||
|---|---|---|---|---|
| Has renewal fees? | Service fees | Certificate fees | Renewal fees | Total renewal fees |
| YES | 0.00 | 100000.00 | 0.00 | 100000.00 |
| Comments |
Relevant laws (including the presidential Ordinance) do not define fees and service charges, but the authorities inform that the renewal fee is 100,000 LAK per time. |
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