20 Dec 2018
LAOS: Application Procedures Announced for Proof of Capital Import Certificates
The Bank of the Lao PDR (BOL), the country’s central bank, has announced the required application procedures for a Certificate of Capital Importation (CCI), the document overseas investors are obliged to secure every time they import foreign capital into the country. This applies regardless as to whether the capital in question is in the form of physical currency, machinery imported via the country’s border entry points or via foreign currency transactions conducted through the commercial banking network.
Furthermore, the BOL has stressed that no foreign investor will be allowed to repatriate funds to their home countries (or to a third-party nation) without first producing the relevant CCI as proof of the original capital import.