Inventory of Business Licenses

General information
Name of formality	License for Providing Subsystem Services
Type of formality	License
Date of last modification	04.01.2021
Responsible Authorities	Payment Systems Department (021 253595;)
LSIC	K - Financial and insurance activities
Who should complete this business formality?	Companies registered as enterprises in the Lao PDR, except for sole limited companies; financial institutions and other legal entities with the purpose of overseeing subsystems must establish themselves as specialized legal entities. Except for accounting control systems, commercial banks may act as overseers of subsystems
Qualifications needed by the business to get the formality
Additional Comment

LEGAL FRAMEWORK
Name	Number	Date	Comment
Decision on Payment Subsystems Services of Financial Transections	293/BOL	01.04.2019

REQUIRED DOCUMENTS FORMALITIES - First time
Name	Type	Comment
Application Form	Confirmative act	in the template by the Department of Payment Systems
Copy of Enterprise Registration Certificate	Confirmative act
Other Related Documents	Confirmative act

REQUIRED DOCUMENTS FORMALITIES - Renew
Name	Type	Comment

 

Mean of presentation
Means of presentation	At the Authority Offices
Address of authority	Payment Systems Department, Bank of the Lao PDR
Processing Time (Day(s))	45	Regulation: Decision on the subsystem No. 293/BoL, dated May 1, 2019, Article 13 - Consideration

 

RENEWAL INFORMATION
Does the formality have a validity or an expiration date?	YES
How long will the formality be valid for? (in months)	60
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	2000000.00	0.00	0.00	2000000.00
Comments	Fees for issuing licenses as sub-system controllers, zero point one percent (0,1%) of the registered capital according to the decision on the subsystem services No. 293/BoL, dated April 1, 2019, Article 16, Fees, service charges, and annual supervisory fees

 

RENEWAL FEES
Has renewal fees?	Service fees	Certificate fees	Renewal fees	Total renewal fees
YES	1000000.00	0.00	0.00	1000000.00
Comments	Decision on the subsystem services No. 293/BoL, dated April 1, 2019, Article 16 (Fees, service charges, and annual supervisory fees)

   

REQUIRED DOCUMENTS
Document Name	Comment
Application Form	in the template by the Department of Payment Systems
Copy of Enterprise Registration Certificate
Other Related Documents

 

STATISTICS (Issue or/and renewed number)
Year	Issued	Renewed
2019	1	0
2020	0	0