|Procedure Name||Procedure to request for Import/Export License of Gold Bar|
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)
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.
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||Created Date||Updated Date||Issued By|
|Export License Application of Valuable Object||Export License Application of Valuable Object||24-03-2017||24-03-2017|
|Import License Application of Valuable Object||Import License Application of Valuable Object||24-03-2017||24-03-2017|
|Name||Measure Type||Agency||Description||Comments||Legal Document|
|Requirement to obtain import license - Gold bars||Licensing Requirement||To import Gold bars (only for gold bars as internationally recognized as medium of payment), it is neccessary to obtain an import license from the Monetary Department, Bank of Lao PDR.||For monetary stability.|
|Requirement to obtain export license - Gold bars||Licensing Requirement||To export Gold bars (only for gold bars as internationally recognized as medium of payment, it is neccessary to obtain an export license from the Monetary Department, Bank of Lao PDR.||For monetary stability.|
|Registration Requirement for Company to Import/Export precious metals||Registration Requirement||Company wants to establish an import/export company of precious metals which is recognized for trade internationally must submit an application to obtain a permit to establish such company with Department of Monetary Policy, Bank of Lao PDR||For monetary stability.|