License to establish an asset management company
ໃບອະນຸຍາດສ້າງຕັ້ງເປັນບໍລິສັດບໍລິຫານຊັບສິນ
| General information | ||
|---|---|---|
| Type of formality | License | |
| Date of last modification | 30.07.2020 | |
| Responsible Authorities | Lao Securities Commission Office
(021 217770;) |
|
| LSIC | K - Financial and insurance activities | |
| Who should complete this business formality? |
Securities companies, commercial banks, domestic and foreign insurance companies, foreign asset management companies, and other legal entities as considered by the LSCO. |
|
| Qualifications needed by the business to get the formality |
1. An individual, Securities Company, commercial bank, domestic and foreign insurance company, foreign asset management company and other legal entity as the consideration of the LSCO to establish as an assets management company under the Law on Enterprises. 2. Have the registered capital of at least 10 billion LAK 3. Have an appropriate numbers of Fund Managers that have Chartered Financial Analyst Certificate. 4. Have a fundraising and investment plan for the mutual funds 5. Have an internal control system, risk management, Information technology, and conflicts of interest prevention within the company, with the company, person, or other related legal entity 6. Shareholders that established as an asset management company must be in a good financial position and must be audited by an external audit company. 7. Other conditions as determined by the LSCO |
|
| Additional Comment |
After receiving the license to operate as a asset management company, the company must announce to the public through the media for at least 5 consecutive business days from the date of receipt. |
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| LEGAL FRAMEWORK | ||||
|---|---|---|---|---|
| Name | Number | Date | Comment | |
| Law on Securities | 21/NA | 10.12.2012 | "" | |
| Decision on the Management of the Asset Management Company | 0053/LSC | 17.10.2019 | "" | |
| REQUIRED DOCUMENTS FORMALITIES - First time | ||||
|---|---|---|---|---|
| Name | Comment | |||
| Business Plan | for the next 3 years |
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| List of shareholders and shareholding ratio | ||||
| Application Form | use the template of LSCO |
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| Company's Regulations | ||||
| Partnership Agreement | ||||
| Enterprise Registration Certificate | ||||
| Education Qualification Evidence | ||||
| Court Clearence | ||||
| Curriculum Vitae | of shareholders |
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| Financial Reports of the Shareholders who are Legal Entities | that has been audited by the external auditing company |
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| Other Related Documents | defined by LSCO |
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| Identification Card or Passport | for shareholders who are legal entities |
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| Business Operating Background | of the board of directors and directors |
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| REQUIRED DOCUMENTS FORMALITIES - Renew | ||||
|---|---|---|---|---|
| Name | Comment | |||
| Mean of presentation | ||
|---|---|---|
| Means of presentation | At the Authority Offices | |
| Address of authority | Lao Securities Commission Office, 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 renew the formality? | There is no renewal requirement for the license, but an annual management fee of LAK 5 million/year | |
| ISSUING FEES | ||||
|---|---|---|---|---|
| Has application fees? | Service fees | Certificate fees | Application fees | Total fees |
| YES | 0.00 | 10000000.00 | 0.00 | 10000000.00 |
| Comments |
Based on: Regulation No.0053/LSC |
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| RENEWAL FEES | ||||
|---|---|---|---|---|
| Has renewal fees? | Service fees | Certificate fees | Renewal fees | Total renewal fees |
| NO | 0.00 | 0.00 | 0.00 | 0.00 |
| Comments |
There is no renewal requirement for the license, but an annual management fee of LAK 5 million/year |
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