Law on Foreign Currency Administration No. 55/NA, dated 22 December 2014, and Instruction on implementing the Presidential Decree on Foreign Currencies and Precious Metals Management No. 01/BOL, dated 02 April 2010 specify general principles on import and export business of internationally payable gold (gold bar).
Specific regulation that governs the import and export of gold bar is Regulation on Establishment and Management the Company to Export and Import Precious Metals No. 01/BOL, dated 15 May 2007 and Decision on Procedures for Importation and Exportation of Gold Bars No. 609/BOL dated 26 June 2012.
To request for Import/Export License of Gold Bar requires to make a request per import/export as follows:
1. Importer/Exporter prepares documents for the application of Import/Export License, which consist of:
- Request Letter (General format)
- Import License Application (download here)/ Export License Application (download here)
- A copy of Enterprise Registration
- A copy of Import -Export of Gold Business Permission
- A copy of Annual Tax Payment Certificate
- A copy of Invoice
- A copy of Packing List
Importer/Exporter submits the documents mentioned above to Foreign Exchange Management Division, Department of Monetary Policy, Bank of Lao PDR.
2. Department of Monetary Policy considers the application in 03 weekdays.
- If the application is correct, the department will sign and authenticate the Import/Export License.
- If the application is incorrect, the department will notify the importer/exporter to re-submit the application.
3. Once the documents are complete and correct, Department of Monetary Policy will issue the Import/Export License.
4. Importer/Exporter pay fee 15,000 Kips at Department of Currency Issue, Bank of Lao PDR. After that, submit the payment receipt to Foreign Exchange Management Division, Department of Monetary Policy to collect Import/Export License of Gold Bar.
| # | Title | Description | Issued By | File |
|---|---|---|---|---|
| 1 | Export License Application of Valuable Object | Export License Application of Valuable Object | Bank of Lao PDR | DOC |
| 2 | Import License Application of Valuable Object | Import License Application of Valuable Object | Bank of Lao PDR | DOC |
| # | Name | Description | Measure Type | Agency | Comments | Legal Document | Validity To | Measure Class |
|---|---|---|---|---|---|---|---|---|
| 1 | Requirement to obtain import license - Gold for international payment | To import Gold (only for gold bars as internationally recognized as medium of payment), it is necessary to obtain an import license from the Monetary policy Department, Bank of Lao PDR. | Licensing Requirement | Bank of Lao PDR | For monetary stability. | Decision on a business of import and export gold for international payments, No.461/BOL, dated 03 June 2019 | 9999-12-31 | Good |
| 2 | Requirement to obtain export license - Gold bars used as medium for international payment | To export Gold (only for gold as internationally recognized as medium of payment, it is neccessary to obtain an export license from the Monetary Department, Bank of Lao PDR. | Licensing Requirement | Bank of Lao PDR | For monetary stability. | Decision on a business of import and export gold for international payments, No.461/BOL, dated 03 June 2019 | 9999-12-31 | Good |
| 3 | Business Operation Requirement - Imports of Gold | Company wishing to run import business for gold that used as medium for international payment must comply documents required for running such business to the department of monetary policy, bank of Lao PDR | Registration Requirement | Bank of Lao PDR | For monetary stability. | Decision on a business of import and export gold for international payments, No.461/BOL, dated 03 June 2019 | 9999-12-31 | Good |
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