License to Operate a Banking Business
ໃບອະນຸຍາດດໍາເນີນທຸລະກິດການທະນາຄານ
| General information | ||
|---|---|---|
| Type of formality | License | |
| Date of last modification | 19.10.2020 | |
| Responsible Authorities | Non Bank Financial Institution Supervision Department
|
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| LSIC | K - Financial and insurance activities | |
| Who should complete this business formality? |
Individuals, legal entities that intend to operate in a banking business |
|
| Qualifications needed by the business to get the formality |
As specified in Article 8 of the decision on the establishment of commercial banks and branches of commercial banks, No.42/BoL, dated January 15, 2016. In cases where it is not possible to comply with the conditions, an extension for compliance can be requested for an additional 90 days, but not exceeding two instances in total. |
|
| Additional Comment | ||
| LEGAL FRAMEWORK | ||||
|---|---|---|---|---|
| Name | Number | Date | Comment | |
| Law on Commercial Bank (Amended) | 56/NA | 07.12.2018 | "" | |
| Decisions on Commercial Bank and Branch Establishment | 42/BoL | 15.01.2016 | "" | |
| REQUIRED DOCUMENTS FORMALITIES - First time | ||||
|---|---|---|---|---|
| Name | Comment | |||
| Application form in the Bank of Lao PDR specified format | ||||
| Enterprise Registration Certificate | ||||
| Photo (3x4) | ||||
| REQUIRED DOCUMENTS FORMALITIES - Renew | ||||
|---|---|---|---|---|
| Name | 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)) | 60 | Legal entities that receive a response letter from the Commercial Bank Management Department or the Bank of the Lao PDR, Commercial Bank in the Lao PDR, must comply with the conditions specified in Article 8 of the decision on the establishment of commercial banks and branches of commercial banks, No.42/BoL, dated January 15, 2016. In cases where it is not possible to comply with the conditions, an extension for compliance can be requested for an additional 90 days, but not exceeding two instances in total. |
| 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? | The license has no expiration. | |
| ISSUING FEES | ||||
|---|---|---|---|---|
| Has application fees? | Service fees | Certificate fees | Application fees | Total fees |
| YES | 0.00 | 0.00 | 0.00 | 0.00 |
| Comments |
The total expenses amount to 100 million kip, including a business operating license fee of 20 million kip and a service fee of 80 million kip. |
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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 | ||||
