You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

August 23, 2023

Laos Expands Oversight of Import-Export Activities with Banking Registration Requirements

Subscribe to Updates

Laos has expanded its registration requirements for importers and exporters by mandating additional registration and financial procedures. Bank of Lao PDR (BOL) Decision No. 677, which was issued on July 24, 2023, requires importers and exporters to register with the BOL and to open a dedicated commercial bank account for their import-export business activities. These requirements are in addition to the May 2023 stipulation ordering importers and exporters to register with the Ministry of Industry and Commerce (MOIC).

Registration and Account Opening

After registering with the MOIC and receiving their MOIC registration certificate, importers and exporters have 10 days to register with the BOL. Within five working days of receiving a complete application, the BOL will issue a registration notification, after which the importer or exporter has 10 days to present its BOL registration certificate and the required supporting documents to a commercial bank for opening the specified bank account.

Banking Requirements and Supporting Documents

Payment for goods and services made or received from abroad by importers and exporters must take place via electronic wire transfer via the dedicated bank account opened specifically for import-export activities. The importer must provide the commercial bank with various required documents as evidence for each transaction.

Likewise, exporters’ receipt of payment from abroad via bank transfer must take place using the bank account opened for import-export activities within the timeline specified in the sale-purchase agreement, but not exceeding 180 days from the export date. After receiving payment from abroad, the exporter must provide copies of various payment-related documents to the commercial bank.

Exporters that wish to use any of this income to repay a loan must submit an application and supporting documents to the BOL for approval. The BOL will decide on the application within 10 working days of receiving the complete application documents.

The Department of Foreign Exchange Management in the BOL is the main authority responsible for managing foreign exchange matters related to import-export activities, coordinating with the Department of Monetary Policy, Department of Commercial Bank Management, BOL branches, and other relevant sectoral authorities.

Penalties

An initial instance of noncompliance with this decision by an importer, exporter, or commercial bank may be subject to compulsory remedial education. Importers or exporters that continue to violate the decision by failing to register with the BOL, failing to open a bank account with a commercial bank, or using a different bank account to send or receive import-export payments are subject to a fine of LAK 10 million (approx. USD 510). Additionally, importers and exporters who fail to pay for goods or services abroad via the banking system face an additional fine of 10% of the value of the transaction. Commercial banks that violate the decision are subject to a fine of LAK 5 million (approx. USD 260).

For more information on Laos’ import-export registration requirements, please contact Tilleke & Gibbins at [email protected] or +856 21 262 355.

Related Professionals

Practices

Customs and International Trade

Location

RELATED INSIGHTS​ 

September 22, 2026
Tilleke & Gibbins has contributed the Thailand chapter to Shipping Law 2026 from the International Comparative Legal Guides (ICLG) series published by Global Legal Group. This comprehensive guide provides detailed legal analysis of shipping laws, regulatory frameworks, and maritime dispute resolution across key maritime jurisdictions worldwide. Each chapter follows a structured Q&A format, organized into critical sections covering key aspects of maritime law and practice, including: Marine casualties, collision liability, pollution regimes, salvage, and general average Marine cargo claims, statutory carrier obligations, liability limits, and misdeclaration of cargo Maritime passenger claims, personal injury liabilities, and consumer case procedures Vessel arrest, counter-security, provisional attachment, and maritime liens Evidence preservation, perpetuation procedures, and electronic document disclosure Court jurisdiction, specialized IP&IT litigation, arbitration, and alternative dispute resolution (ADR) Enforcement of foreign court judgments and arbitral awards under the New York Convention 1958 Offshore wind energy initiatives, regulatory permits, and cabotage restrictions Sector developments, including the Landbridge project and decarbonization trends The Thailand chapter, authored by Noppramart Thammateeradaycho and Panchaya Rattanaumnuaishai, examines these topics in detail, highlighting key statutory regimes such as the Carriage of Goods by Sea Act (COGSA), the Arrest of Ships Act, and the jurisdiction of the Central Intellectual Property and International Trade (IP&IT) Court. The complete Thailand chapter is available as a PDF below. The Thailand chapter—and the full Shipping Law 2026 guide—are also freely available on the ICLG website.
Read More
September 14, 2026
On August 23, 2026, Vietnam’s National Assembly passed Law No. 11/2026/QH16, amending the country’s Customs Law with effect from March 1, 2027. The amendments represent a substantial reform of Vietnam’s customs-based intellectual property enforcement regime. The reforms come amid considerable external pressure. In its 2026 Special 301 review, the US Trade Representative (USTR) designated Vietnam a “priority foreign country,” citing widespread counterfeiting, weak border enforcement, limited ex officio customs powers, and the absence of controls over goods in transit. Vietnam’s legislative response signals a commitment to bringing its border enforcement practices into line with international expectations. For IP rights holders operating in or through Vietnam, the amended law introduces several tools that substantially strengthen enforcement options at the border. Closing the Transit Gap One of the most consequential amendments is the extension of IP-related customs enforcement to goods in transit. Previously, Vietnam’s customs regime applied IP controls only to goods being imported or exported, a gap the USTR had specifically identified as enabling infringing goods to pass through Vietnamese ports with impunity. Vietnam’s geographic position as a logistics hub for Southeast Asia means that substantial volumes of goods transit its ports and free-trade zones. Extending enforcement to cover these shipments brings Vietnam closer to the standard set by the EU’s customs enforcement regulation and addresses a longstanding concern of multinational brand owners whose goods are frequently counterfeited in the region. Strengthened Suspension and Ex Officio Powers The amended law introduces a dual-track suspension mechanism (Article 73(2)). Customs authorities will suspend clearance upon request by an IP rights holder (or authorized representative) who provides evidence of IP ownership, evidence of infringement, and a financial guarantee. Customs can now proactively suspend clearance on an ex officio basis if, during inspection and monitoring, they discover “clear grounds” to suspect that imported, exported,
Read More
August 20, 2026
As part of its membership in Lex Mundi, Tilleke & Gibbins has released the latest edition of its Guide to Doing Business in Thailand, providing an overview of the legal, regulatory, and commercial considerations for companies establishing or expanding operations in Thailand. The 2026 edition offers practical insight into the country’s business environment, investment framework, and operational requirements. The guide covers a wide range of topics relevant to foreign and domestic investors, including: Investment incentives and promotion schemes Financial facilities and banking regulations Exchange controls and money transfers Import and export regulations Business structures and incorporation options Requirements for establishing a business Operational and compliance considerations Business cessation and insolvency procedures Employment and labor laws Taxation Immigration and visa requirements Prepared by Tilleke & Gibbins lawyers across multiple practice areas, the publication outlines key aspects of doing business in Thailand, including foreign investment restrictions, regulatory compliance obligations, corporate structures, employment requirements, and recent legal and economic developments affecting investors. The publication forms part of Lex Mundi’s Country Guides series, a global collection of jurisdiction-specific reference materials prepared by member firms around the world. Together, these guides help companies evaluate opportunities, compare regulatory environments, and plan international business activities across multiple markets. The full Guide to Doing Business in Thailand 2026 is available through the button below.
Read More
July 21, 2026
On July 6, 2026, Myanmar’s Ministry of Finance and Revenue introduced revised procedures governing the importation and exportation of goods and vehicles, replacing the framework that had been in place since 2017. The revised procedures were introduced in Notification No. 115/2026, which establishes updated compliance requirements and penalties for importers and exporters, covering licensing, declarations, product specifications, prior arrival of goods, and imports or exports made without the required licenses or permits. Scope Unlike its predecessor (Notification No. 6/2017), which focused primarily on import-related noncompliance, the new notification regulates both import and export activities and introduces a separate penalty schedule for export violations. Exporters are now required to ensure that their exports comply with the approvals stated in export licenses and permits, match the information declared in export declarations, and are supported by the required licenses, permits, and accompanying documents. Import Compliance and Penalties The new notification imposes several compliance requirements on importers. Importers must ensure that the country of origin, branding, labeling, and other product information are consistent with the relevant import license or permit, import declaration, and the imported goods. For vehicles and machinery, the model year must match the year approved by the Ministry of Commerce. Importers must also ensure that goods are not imported before the issuance or after the expiry of the import license or permit, and that the imported quantity does not exceed the approved amount. Failure to comply with these requirements may result in regulatory action. As for the notification’s revised penalties for noncompliance with import licensing requirements, imports made without the required import license, permit, or import declaration may be subject to fines ranging from one to three times the assessable value (AV) of the goods, depending on the category of goods involved. Certain vehicles and machinery, as well as specific
Read More