New Requirements and Transaction Fees for Transfers between Foreign Currency Deposit Accounts in Lao PDR
The Bank of Lao PDR has issued the Decision on Amendment of Article 10 of Decision on Management of Foreign Currency Deposit Accounts in the Lao PDR No.288/BOL dated 3 April 2025 (“Decision 288“). Decision 288 amends Article 10 of the Decision on Management of Foreign Currency Deposit Accounts in the Lao PDR No.155/BOL dated 19 February 2025 (“Article 10 of Decision 155“).
Decision 288 replaces the provisions of Article 10 of Decision 155. The amended Article 10 of Decision 155 now provides that deposit account owners can transfer money between foreign currency deposit accounts in the same currency only through the manner prescribed as follows.
When transferring money between foreign currency deposit accounts issued under different names, a transfer fee will be imposed by the originating commercial bank. This will be 0.3% of the transaction value, which should in no way be less than US$1 (or equivalent) and not more than US$30 (or equivalent) per one transaction.
Additional requirements apply, depending on the type of deposit account and the amount to be transferred:
Type | Amount transferred per day | Requirement(s) |
Foreign currency deposit accounts of individuals | Not exceeding US$10,000 or equivalent |
|
Exceeding US$10,000 or equivalent |
| |
Foreign currency deposit accounts of enterprises and organisations | Not exceeding US$100,000 or equivalent |
|
Exceeding US$100,000 or equivalent |
|
DOFT Imposes Deadline for Renewal of Importer-Exporter Certificate
The Ministry of Industry and Commerce, Department of Foreign Trade (“DOFT“) has issued the Notification on the Renewal of the Certificate of Importer-Exporter Registration of Goods and Services No.1284/DOFT dated 13 March 2025 (“Notification“). The Notification states as follows:
- The enterprise whose Certificate of Importer-Exporter Registration of Goods and Services (“Certificate“) has expired must renew the same as soon as practicable. The renewal can be done through this page on the DOFT website: https://imex-enterprise.laoconnect.la/auth/login.
- Enterprises that have registered but do not carry out actual import-export activities must inform DOFT of the reasons for such non-activity. Such enterprises located in provinces outside the Vientiane capital shall inform the Department of Industry and Commerce of the province where they are located.
- The implementation of both items 1 and 2 above must have been completed before 31 March 2025. Enterprises that have not complied with items 1 and 2 by the said deadline would have their Certificate withdrawn. They will also face other consequences of non-compliance, including the suspension of a specific account for payment of the import and export of goods and the suspension of the import and export of goods.
New Decision Outlines Principles and Regulations for Goods Advertising
The Ministry of Industry and Commerce has issued the Decision on the Content of Goods Advertising No.0285/MOIC dated 20 February 2025 (“Decision“), which was published in the Lao Official Gazette on 26 February 2025.
This Decision applies to individuals, entities or organisations, both domestic and foreign, that advertise goods through media in various forms in Lao PDR. It does not cover the advertising of food products, drugs and medical products that are managed by the Public Health Sector Authorities.
The Decision defines the principles and regulations regarding the contents of goods advertising. It aims to make the advertising of goods clear and accurate to protect the rights and legitimate interests of users.
Based on the Decision, there are two forms of advertising:
- Public advertising: advertising launches of goods and new services through various types of billboards in public places; and
- Advertising through media: advertising through printed and electronic media including newspapers, magazines, radio programs, television, the internet, websites and others.
Individuals and legal entities that intend to have the contents of their goods advertising certified must submit to the Industry and Commerce Sector Authorities a proposal and supporting documents as stated in the Decision.
Amended Law on Anti-Corruption
The National Assembly has issued the Law on Anti-Corruption (Amended) No. 52/NA dated 28 June 2024 (“Amended Law“), which was published in the Lao Official Gazette on 26 February 2025. The Amended Law replaced the Law on Anti-Corruption (Amended) No. 27/NA dated 18 December 2012.
The Amended Law outlines the principles, regulations and measures on anti-corruption so that the property of the state, the collective, and the rights and legitimate interests of citizens are not damaged by corruption.
New Regulations, Framework for Use of Foreign Currency Within Lao PDR
The Bank of Lao PDR (“BOL“) has issued the Decision on the Use of Foreign Currency in Lao PDR No.11/BOL dated 3 January 2025 (“Decision“), which was published in the Lao Official Gazette on 21 January 2025. The Decision sets out the principles, regulations and measures in relation to the use of foreign currencies in Lao PDR.
Based on the Decision, a foreign currency is used in:
- determining pricing, labeling and advertising;
- making and/or receiving payments for goods; and
- determining a pricing structure.
The Decision classifies the targets that use foreign currencies in Lao PDR into two categories: (i) those that require approval from BOL, and (ii) those that do not require its approval.
The targets that require approval to use foreign currencies in Lao PDR, include, but not limited to the following:
- exporters or concessionaires and lessees who have payment obligations with the Government of Lao PDR in foreign currency;
- enterprises providing goods transportation and international transportation services including their agents, and enterprises providing warehouse services at borders and airport checkpoints;
- entities that have obligations to make payments to overseas entities and provide goods and services to exporters that have revenues in foreign currencies;
- Insurance business operators;
- tourism business operators; and
- casino business operators.
The targets that do not require BOL approval include:
- governmental authorities that issue monetary policy instruments;
- governmental authorities that give or obtain grants-in-aid;
- governmental authorities or enterprises that collect state budget revenue at border crossings, and international airports at borders that receive payments for visa fees, charges, and service charges, and with obligations to states related to the entry to and departure from Lao PDR;
- Foreign embassies or consulates that receive payments, determine prices, label visa fees, and determine fees and service charges in connection with entry into their respective countries;
- commercial banks that determine pricing, labelling and advertising, as well as make and receive payment of fees, service fees, interest and other fees;
- lodging services such as hotels, resorts, or inns that determine pricing, labelling, advertising, as well as receive payment of hotel fees; and
- international bidding projects that determine the pricing, payment, and receipt of values of projects.
Targets that need the approval of BOL prior to the use of foreign currencies in Lao PDR shall submit a proposal letter with supporting documents to the Department of Foreign Currency Management of BOL or the relevant Bank branch in the area where the targets are located.
Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice
