Inventory of Business Licenses

General information
Name of formality	License to Operate Business on Import-Export Gold that used for International Settlement Payment
Type of formality	License
Date of last modification	31.07.2020
Responsible Authorities	Monetary Policy Department
LSIC	G - Wholesale and retail trade; repair of motor vehicles and motorcycles
Who should complete this business formality?	Those who intend to operate a gold import-export business
Qualifications needed by the business to get the formality	1. Having a valid Enterprise Registration Certificate in accordance with relevant laws and regulations of the Lao PDR. 2. Having sufficient registered capitals as defined in article 5 of this Decision. 3. Having an efficient business plan 4. Having a suitable location for the office and service security 5. Never been convicted for fraud or corruption 6. Never been withdrawn from operating the gold import-export business (the license has never been withdrawn)
Additional Comment

LEGAL FRAMEWORK
Name	Number	Date	Comment
Decision on Operating Business on Import-Export Gold that used for International Settlement Payment	461/BOL	03.06.2019	Article 5, 6, 7 and 11

REQUIRED DOCUMENTS FORMALITIES - First time
Name	Type	Comment
ID card	Confirmative act	for Lao national (a copy)
Business Plan	Confirmative act
Organization Chart of the Enterprise	Confirmative act
Internal Regulations	Confirmative act
Address Certification	Confirmative act	for Lao national
Application Form	Confirmative act	by the BOL
Copy of Enterprise Registration Certificate	Confirmative act	and copy of Intention Letter, issued by the Ministry of Industry and Commerce (with the official seal)
Court Clearence	Confirmative act	for Lao national
Curriculum Vitae	Confirmative act	of the director and shareholders
Power of Attorney (in case the applicant appoints the attorney to proceed with the application)	Confirmative act
Financial Status Certificate	Confirmative act	and statement
Location Map of the office	Confirmative act	certified by the village authority
Passport	Confirmative act	for a foreign investor (a copy)
Photo (3x4)	Confirmative act	3 photos of the applicant (taken within 90 days)

REQUIRED DOCUMENTS FORMALITIES - Renew
Name	Type	Comment

 

Mean of presentation
Means of presentation	At the Authority Offices
Address of authority	Monetary Policy Department, Bank of Lao PDR
Processing Time (Day(s))	30

 

RENEWAL INFORMATION
Does the formality have a validity or an expiration date?	YES
How long will the formality be valid for? (in months)	12
What is the process and conditions to get the formality?
What is the process and conditions to renew the formality?	The business operator who intends to continue the business on import-export gold shall the request for the extension of the license from the Monetary Policy Department 30 days prior to its expiry date by submitting these following documents: - Application letter for the extension for the gold import-export license based on Bank of Lao PDR format. - Copy of the current license for import-export golds - Copy of the enterprise registration certificate - Annual certificate of tax payment - Annual financial report or financial statement - Bank statement (1 year) from the commercial bank - The power of attorney for the representative (if case the requestor is absent) - 2 copies of the requestor's photos in the size of 3x4 (taken within 90 days)

 

ISSUING FEES
Has application fees?	Service fees	Certificate fees	Application fees	Total fees
YES	0.00	2000000.00	200000.00	2200000.00
Comments	The application fee is 0.01% (zero point zero one) of the registered funds, but it shall not exceed 5,000,000 LAK (five million Kip)

 

RENEWAL FEES
Has renewal fees?	Service fees	Certificate fees	Renewal fees	Total renewal fees
YES	0.00	2000000.00	0.00	2000000.00
Comments	according to the comments of the authority

   

REQUIRED DOCUMENTS
Document Name	Comment
ID card	for Lao national (a copy)
Business Plan
Organization Chart of the Enterprise
Internal Regulations
Address Certification	for Lao national
Application Form	by the BOL
Copy of Enterprise Registration Certificate	and copy of Intention Letter, issued by the Ministry of Industry and Commerce (with the official seal)
Court Clearence	for Lao national
Curriculum Vitae	of the director and shareholders
Power of Attorney (in case the applicant appoints the attorney to proceed with the application)
Financial Status Certificate	and statement
Location Map of the office	certified by the village authority
Passport	for a foreign investor (a copy)
Photo (3x4)	3 photos of the applicant (taken within 90 days)

 

STATISTICS (Issue or/and renewed number)
Year	Issued	Renewed
2016	3	3
2017	3	3
2018	5	3
2019	6	5