Laos Sets New Licensing Requirements for Non-Resident Importers and Exporters
Laos recently set new certificate requirements for non-resident importers and exporters that were set to take effect June 27, according to an alert from the law firm Tilleke & Gibbons. Under the new regulation, importers and exporters in Laos that have no registered business in the country will require a Trading Rights Certificate from the Department of Import and Export in order to sell and purchase goods. The goods can’t be sold directly to consumers in Laos, and must be sold through authorized distributors. To be eligible for a certificate, the importer or exporter must operate in accordance with the laws of their country of origin, have not committed an offense or be involved in criminal proceedings related to trade or financial matters, and must come from a World Trade Organization member country.
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Applications for the certificate must be in Lao or English. The Ministry of Import and Export will issue the certificate within 20 working days of the application, or explain its refusal to issue the certificate within 15 working days. The certificate will be valid for three years and may be renewed, the alert said. Along with the certificate requirement, the new regulation sets new recordkeeping and reporting requirements for non-resident importers and exporters. “In addition, foreign traders are legally required to provide a deposit or guarantee letter on goods, which can be returned after a follow-up customs declaration is made,” the law firm said. “As there is no official enabling mechanism, these actions must currently be performed through a customs broker.”