Lao People’s Democratic Republic
Peace Independence Democracy Unity Prosperity
**********
The National Coordination Committee on
Anti-Money Laundering and Counter-Financing of Terrorism No: 06 /NCC
Vientiane Capital, dated 19 May 2015
Regulation
On the Declaration of Cash, Precious metals and Bearer Negotiable Instruments
While Entering/Exiting the Lao PDR
- Per the Law on Anti-Money Laundering and Counter-Financing of Terrorism, No. 50/NA, dated 21 July 2014;
- Per the Decree on the Implementation and Function of the National Coordination Committee on Anti-Money Laundering and Counter-Financing of Terrorism, No. 364/PM, dated 13 October 2014;
- Per the Law on Customs, No. 04/NA, dated 20 December 2011;
- Per the Request by the Anti-Money Laundering Intelligence Unit, No.446 /AMLU, dated 17 May 2015
The Chairman of National Coordination Committee on
Anti-Money Laundering and Counter-Financing of Terrorism Issues these Regulations:
Section 1
General Provisions
Article 1 Objectives
These regulation were issued to expand upon the Article 33 Declaration of cash, precious metals and bearer negotiable instruments at border crossings and 34 Examination by customs officers at border crossings of the Law on Anti-Money Laundering and Counter-Financing of Terrorism to clarify on its implementation.
Article 2 Definition of Terms
Terms used in these regulations have definitions as follows:
1. Cash mean banknotes as any currency or coins;
2. Bearer Negotiable Instrument (BNI)” BNI mean bank checks, traveler’s checks, money orders, bonds, bank drafts, etc
3. Precious metals mean silver or gold bars, silver or gold prefabricated, diamonds, gems, and other Precious metals which may be used in international payments;
4. Passengers mean Lao people, foreigners, immigrants that enter/exit the Lao PDR on behalf of individual, legal persons or organizations;
5. Customs boundary checkpoint means international boundary checkpoint, local boundary checkpoint, Traditions boundary checkpoint that allow passengers, vehicles and goods to Entering/Exiting the Lao PDR including though postal system.
Section 2
Declaration of Cash, Precious metals, and BNIs
Article 3 Deceleration of passengers when Entering/Exiting the Lao PDR
Passengers with cash, Precious metals, and BNIs with a value of 100,000,000 (one hundred million) kip or more entering/exiting the Lao PDR must declare these items to a customs official at the boundary post with a Customs Declaration Form issued by the Ministry of Finance.
Article 4 Procedures of Declaration
Passengers with cash, Precious metals, and BNIs that travelling into/out of the Lao PDR which bring in/take out cash must follow these procedures:
1) Declaration while Entering Lao PDR:
- Complete an Entry Declaration Form to correctly and clearly;
- Present the form also the cash, Precious metals, and BNIs to a customs official at the boundary checkpoint for inspection.
2) Declaration while Exiting Lao PDR:
- Complete an Exit Declaration Form to correctly and clearly;
- Present the form also the cash, Precious metals, and BNIs to a customs official at the boundary checkpoint for inspection;
- Present certificate documents or permits with cash, Precious metals, and BNIs from relevant organizations;
- Present certificate documents to importing from customs official for keeping.
Article 5 Inspection by Customs Officials
Customs officials at boundary checkpoints must review, count and confirm the declarations of passengers carrying cash, Precious metals and BNIs that into/out of the Lao PDR correctly and consistency with declarations of passengers.
Article 6 Reporting by Customs Officials at Boundary Checkpoints
Customs officials at boundary checkpoints were confirm the declaration of passenger carrying cash of cash, Precious metals, or BNIs with value of 100,000,000 (one hundred million) kip or more, the customs official must report to Anti-Money Laundering Information Unit within 15 day as the format of Anti-Money Laundering Information Office.
Article 7 Storage of Cash, Precious metals and BNIs
In case a customs official seizes or holds cash, Precious metals or BNIs which has no support document, the customs official at the boundary checkpoint must deposit it in the stage account and open the investigation.
Section 3
Policies for Achievers and Measures for Violators
Article 8 Policies for Performers
The Anti-Money Laundering Intelligence Office has the duty to collect data on outstanding achievements of individuals, entities, and organizations in the implementation of examination of cash, Precious metals, and BNIs in order to give praise per regulations.
Article 9 Measures for Violators
Customs official inspects or finds a violation in the declaration fail to declare, declare falsely, a customs official at a boundary checkpoint, there will be a fine per relevant regulations.
Section 4
Final Provisions
Article 10 Implementation
Anti-money Laundering Intelligence Office, Bank of Lao PDR and Custom department, Ministry of Finance and relevant in the strict implementation of these regulations.
Article 11 Effectiveness
These regulation are effective from the date of signature and after 15 days of notification of an official gazette.
Chairman of the National Coordination Committee on
Anti-Money Laundering and Counter-Financing of Terrorism
[ Seal and signature]
Dr. Bounpone BOUTTANAVONG
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