Terms of service and required documents 

Description

1.Required Documents

1.1 Individual

   1.Lao Citizens

  • ID Card or Permanent Foreign ID Card (valid for at least 1 month)
  • Family book (with photo and certified by respective authority)
  • Foreign family book (with photo and certified by respective authority)
  • Passport ( valid for at least 6 months )
  • Retired ID Card
  • Soldier/Police ID Card
  • Buddhist Certified Letter (Monk ID Card)

Remarks: Each of the above documents can be used.

 2. Foreigners.

- Passport of the foreigner (valid for at least 6 months) and Stay Permit Letter issued by Department of Foreigner Control (valid for at least 1 month).

- Passport  of the foreigner (valid for at least 1 month) and Work Permit Letter issued by Ministry of Labor and Welfare (valid for at least 1 month) or passport and Diplomatic Card issued by Ministry of Foreign  Affairs Laos (MOFA).

  • in case of the Laotian with foreign nationality  who doesn’t have the Stay Permit and Work permit, the submitting of documents for opening account must present the Relations Certified Letter by their relative who holds the Lao nationality and resides in Laos make  and complete the to Guarantee Letter Form provided by the bank for account opening request.
  • In case of the foreigner married with Lao citizen, who doesn’t have the Work Permit and the Stay Permit, the submitting documents for opening accounts must be the Marriage Certificate and the Guarantee Letter Form provided by the bank for new account opening request completed by the spouse which the spouse must also come to the bank for account opening and the Marriage Certificate must be certified by the local authority. 
  • For foreigners who are tourists, do not have a certain address, do not have a Stay Permit or do not have a Work Permit or who temporarily stay in the Lao PDR, are not allowed open an account.

 

1.2 Corporates.

  1. Government Accounts
  • Proposal Letter for new account opening sign and stamp (from ministries, equivalent organization or relevant organizations).
  • Proposal letter to open account for the ministries' project, equivalent organization or Departments from National Treasury, Ministry of Finance.
  • Executive Director Appointment Letter or Agreement on appointing the authorized signatory.
  • Proxy Letter to authorize another person to perform the new account opening.
  • Identity documents of the account owner or the appointed person (For Lao person specified in section 1.1).
  1. Government Projects
  • Proposal Letter for new account opening (from ministries or relevant organizations with stamp).
  • MOU or contract for the project between Lao Government and financier.
  • Proposal Letter to open account for the ministries' project, equivalent organization or Departments from National Treasury, Ministry of Finance.
  • Executive Director Appointment Letter or Agreement on appointing the authorized signatory.
  • Proxy Letter to authorize another person to perform the new account opening.
  • Identity documents of the account owner or the appointed person (For Lao person specified in section 1.1).
  1. Temple or Buddhist Organization
  • Proposal Letter for new account opening (from relevant authorities or organizations with stamp).
  • Position Appointment Letter or agreement on appointing the account owner
  • Proxy letter to authorize another person to perform the new account opening.
  • Identity documents of the account holder or the proxy person (For Lao person specified in section 1.1)
  1. Local Authorities
  • Proposal Letter for new account opening from relevant authorities or organizations with stamp.
  • Position Appointment Letter or Agreement on appointing the account owner.
  • Proxy Letter to authorize other person to perform the new account opening.
  • Identity documents of the account holder or the proxy person (For Lao person specified in section 1.1)
  1. International Organization and The United Nations
  • Proposal Letter for new account opening from relevant organizations with stamp.
  • Operation Permit
  • Regulations of the organization or Executive Directors Appointment Letter that certified (stamped and signed) by the ministries or relevant organizations.
  • Executive Director Appointment Letter or Agreement on appointing the account holder
  • Proxy Letter to authorize another person to perform the new account opening.
  • Identity documents of the account holder or the proxy person (For Lao person or foreigner specified in section 1.1).
  1. The  Projects of the International Organizations
  • Proposal Letter for new account opening from relevant organizations.
  • Operation Permit
  • Regulations of the organization that certified (stamped and signed) by the ministries or relevant organizations.
  • MOU or Contract of the project between Lao Government and the financier.
  • Executive Director Appointment Letter or Agreement on appointing the account owner.
  • Proxy Letter to authorize another person to perform the new account opening.
  • Identity documents of the account owner or the proxy person (For Lao persons or foreigners specified in section 1.1)
  1. Embassies and Consulates
  • Proposal Letter for new account opening (from Embassies and Consulates).
  • Authorization Letter of the establishment of the embassy (from relevant organizations)
  • Appointment Letter or Agreement on appointing the account owner.
  • Proxy Letter to authorize another person to perform the new account opening.
  • Identity documents of the account holder or the Proxy Person (For Lao persons or foreigners specified in section 1.1)
  1. Documentation for International Financial Institutes and International Financial Institute under the supervision of International Organizations.
  • Proposal Letter for new account opening from relevant organizations.
  • Financial Institute License issued by BOL or MOF.
  • International Financial Institutions License.
  • Tax License or Taxpayer Number (If any)
  • Regulations of the financial institution that certified (stamped and signed) by the ministries or relevant organizations). (If any)
  • AML Check List  (If any)
  • Resolutions of the Shareholders (If any)
  • Appointment Letter or Agreement on appointing the account owner.
  • Proxy Letter to authorize another person to perform the new account opening.
  • Identity documents of the account owner or the proxy person (For Lao persons or foreigners specified in section 1.1)
  1. Foreign Representative Office.
  • Letter for new account opening (from relevant organizations).
  • Certificate of Business Registration
  • Tax License or Taxpayer number (If any)
  •  Internal Regulations of the bank (If any)
  • AML Check List (if any)
  • Resolutions of the Shareholders (If any)
  • Appointment Letter or Agreement on appointing the account owner.
  • Proxy Letter to authorize another person to perform the new account opening.
  • Identity documents of the account holder or the proxy person (For Lao person or foreigner specified in section 1.1).
  1. State Enterprises.
  • Proposal Letter for new account opening (From relevant organizations).
  • Certificate of Business Registration
  • Business Operation Permit (If have)
  • Tax License or Taxpayer number (If any)
  • Resolutions of Shareholders (if any)
  • Executive Director Certificate or agreement on appointing the account holder
  • proxy letter to authorize other person to perform the new account opening
  • Identity documents of the account holder or the proxy person (For Lao person specified in section 1.1)

12. State own/ joint venture

  • Proposal letter for new account opening from relevant organizations.
  • Certificate of business registration or concision license or  Agreement from the government
  • Business license (If have)
  • Tax License or Taxpayer number (if any)
  • Resolutions of Shareholders (if any)
  • Executive Director Certificate or agreement on appointing the account holder
  • Appointment Letter or Agreement on appointing the account owner.
  • Proxy Letter to authorize another person to perform the new account opening.
  • Identity documents of the account holder or the proxy person (For Lao persons or foreigners specified in section 1.1)

13. Shareholders or Partners of Privates and States.

This group of the companies including Production Groups, Agriculture-Livestocks, Fisheries Groups, Service groups, Associations, Cooperatives, Foundation Funds, Saving Groups and etc. The submitting of documents for new account opening required as follow:

  • Proposal Letter for new account opening (from relevant organizations).
  • Agreement on establishing associations/groups/cooperatives/foundations (from the government office).
  • Business license (If have).
  • Tax License or Taxpayer number (If any).
  • Resolutions of the Shareholders (If any)
  • Appointment Letter or Agreement on appointing the account owner.
  • Proxy Letter to authorize another person to perform the new account opening.
  • Identity documents of the account holder or the proxy person (For Lao persons or foreigners specified in section 1.1)
  1. Domestic and International Enterprises. Proposal Letter for new account opening from relevant organizations.
  • Certificate of Business Registration
  • Tax License or Taxpayer number (if any)
  • Resolutions of the Shareholders (If any)
  • Appointment Letter or Agreement on appointing the account owner.
  • Proxy Letter to authorize another person to perform the new account opening.
  • Identity documents of the account holder or the proxy person (For Lao persons or foreigners specified in section 1.1)
  1. Domestic and International concession company
  • Proposal Letter for new account opening (with stamp)
  • Concession License
  • Tax License or Taxpayer number
  • Executive Director Appointment Letter or Agreement on appointing the account owner.
  • Proxy Letter to authorize another person to perform the new account opening.
  • Identity documents of the account owner or the proxy person (For Lao persons or foreigners specified in section 1.1)
  1. Financial institutions
  • Proposal Letter for new account opening from relevant organizations.
  • Certificate of Business Registration
  • Tax License or Taxpayer number(if any)
  • Business License issued by BOL or MOF
  • Internal rules or regulations of the financial institution that certified (stamped and signed) by the ministries or relevant organizations (If any).
  • AML Check List  ( If any ) AML Check List (If any)
  • Executive Director Appointment Letter  or Agreement on appointing the account owner.
  • proxy letter to authorize other person to perform the new account opening
  • Identity documents of the account holder or the proxy person (For foreigner specified in section 1.1)

17.Commercial Bank

  • Proposal letter for new account opening (from relevant organizations)
  • certificate of business registration
  • Tax License or Taxpayer number (if any)
  • The Financial institute or commercial bank License issued by the Bank of the Lao PDR (BOL) or the Ministry of Finance (MOF).
  • Regulations of the bank that certified (stamped and signed) by the ministries or relevant organizations) (If any)
  • AML Check List  (If any)
  • Executive Director Appointment Letter or Agreement on appointing the account owner.
  • Proxy Letter to authorize another person to perform the new account opening.
  • identity documents of the account owner or the proxy person (For foreigners specified in section 1.1)