Prohibition on concealing, disusing, threatening, impeding and obstructing the functions of competent authorities | Prohibition | Bank of the Lao PDR | Law on Anti-Money Laundering and Counter-Financing of Terrorism No. 50/NA, dated 21 July 2014 | 31-12-9999 |
Requirement for a registered capital to operate as an insurance broker | Minimum capital requirements | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Prohibition on conducting transactions beyond approval of the Bank of the Lao PDR | Authorization / permit requirements | Bank of the Lao PDR | Decree on Microfinance Institutions No. 460/G, dated 3 October 2012 | 31-12-9999 |
Fee for renewing broker ID card or certification letter for an individual | Fee | Ministry of Finance | Ministerial Guidelines on Insurance Business Licensing No. 770/MOF, dated 21 March 2016 | 31-12-9999 |
Prohibition on conducting transactions involving special conditions | Prohibition | Bank of the Lao PDR | Decree on Microfinance Institutions No. 460/G, dated 3 October 2012 | 31-12-9999 |
Fee for renewing broker license for a legal entity | Fee | Ministry of Finance | Ministerial Guidelines on Insurance Business Licensing No. 770/MOF, dated 21 March 2016 | 31-12-9999 |
Prohibition on conducting unapproved foreign currency related transactions | Authorization / permit requirements | Bank of the Lao PDR | Decree on Microfinance Institutions No. 460/G, dated 3 October 2012 | 31-12-9999 |
Fee for Renewing Life Insurance operating license | Fee | Ministry of Finance | Ministerial Guidelines on Insurance Business Licensing No. 770/MOF, dated 21 March 2016 | 31-12-9999 |
Prohibition on Discrediting other Business Operators | Prohibition | Business competition commission | Law on Business Competition No. 60/NA, dated 14 July 2015 | 31-12-9999 |
Fee for renewing non-life insurance operating license | Fee | Ministry of Finance | Ministerial Guidelines on Insurance Business Licensing No. 770/MOF, dated 21 March 2016 | 31-12-9999 |
Prohibition on driving other business operators out of the market | Prohibition | Business competition commission | Law on Business Competition No. 60/NA, dated 14 July 2015 | 31-12-9999 |
Prohibition on Value Added Tax Payers to violate laws and regulations | Prohibition | Ministry of Finance | Law on Value-Added Tax (Revised Version) No. 52/NA, dated 23 July 2014 | 31-12-9999 |
An applicant who establishes and operates an insurance company must acquire a good business background | Licensing (based on experience, track record, technical requirements, and/or other) | Ministry of Finance | Ministerial Guidelines on Insurance Business Licensing No. 770/MOF, dated 21 March 2016 | 31-12-9999 |
Prohibition on Employment of Foreign Nationals | Nationality (for services supplier) | Ministry of Planning and Investment | Decree of the Prime Minister Regarding the Implementation of the Law on the Promotion and Management of Foreign Investment in the Lao People's Democratic Republic No. 46/PM, dated 23 March 2001 | 31-12-9999 |
Prohibition on Value Added Tax Payers to destroy information and provide partial or inaccurate documents and information | Prohibition | Ministry of Finance | Law on Value-Added Tax (Revised Version) No. 52/NA, dated 23 July 2014 | 31-12-9999 |
Foreign investors to have approval to establish a representative insurance company office in accordance with laws in Lao PDR | Authorization / permit requirements | Ministry of Finance | Ministerial Guidelines on Insurance Business Licensing No. 770/MOF, dated 21 March 2016 | 31-12-9999 |
Requirement for acquisition of land use rights to be determined on 3 bases | Land Ownership | Land inspection Authority | Law on Land No. 04/NA, dated 21 October 2003 | 31-12-9999 |
Prohibition on Engaging in Unfair Sales Promotion | Prohibition | Business competition commission | Law on Business Competition No. 60/NA, dated 14 July 2015 | 31-12-9999 |
Prohibition on Value Added Tax Payers to falsify documents related to Value Added Tax | Prohibition | Ministry of Finance | Law on Value-Added Tax (Revised Version) No. 52/NA, dated 23 July 2014 | 31-12-9999 |
Foreign Investors to possess 5 years of experience in operating an insurance business to establish an insurance company an obtain a Business Operating License in Lao PDR | Licensing (based on experience, track record, technical requirements, and/or other) | Ministry of Finance | Ministerial Guidelines on Insurance Business Licensing No. 770/MOF, dated 21 March 2016 | 31-12-9999 |