Evaluate the Mandatory Requirements Under Company Incorporate in Laos
Any interested investors looking forward to doing business in Laos must first do due diligence on the legal process and international regulations to gain sufficient knowledge. Company incorporate in Laos comes with a couple of stringent regulations that govern company formation. Getting ready with the paperwork and following through with the registration process may be cumbersome. But the process is now easier through 3E Accounting Indonesia business solution service provider—an award-winning consulting firm with its roots in Singapore. At 3E Accounting you’re bound to enjoy several services including the following:
- Incorporation of the company
- Business permit renewal
- Legal and taxation services
- Corporate secretarial services
- Accounting and auditing services
Get in touch with us and begin the process of registration alongside other services.
How to Incorporate a Company in Laos
The company incorporate in Laos requires you first begin with the application for the name reservation certificate. You can apply for the certificate with the Enterprise Registry Office where you’ll also get the Enterprise Registration Certificate from the Ministry of Industry and Commerce. Before you present your business name to the Registry, you must ensure that the name is distinct and simple to pronounce.
The establishment of the company in Laos requires that you present some complementary documents for enterprise registration. Should you decide to launch a Joint venture or a Private Limited Company, you’ll be required to submit:
- A proposal for the enterprise name reservation
- A contract for enterprises formation
- The application for enterprise registration
- The regulations of the enterprise.
The law governing the establishment of a Private Limited company requires one to be lodged in at least the Lao language version and another desired language that you may deem suitable for you. You’ll present some of the following statutory documents on company incorporate in Laos:
- The company’s Articles of Association
- The company’s shareholders agreement in case there is more than one owner.
- A lease agreement over the company’s premise before applying.
- The company bank statements that indicate the financial capability of the investors.
- The identification details that specify the investors –names, addresses, resumes and passport photos.
- A business plan
Remember that the law requires that you register the Articles of Association with the State Asset Management Department of the Ministry of Finance.
Registering for Tax in Laos
Your eligibility to commence with your business will only be possible if you’ve fulfilled the entire requirement under Laos’s registration laws. Getting your taxpayer compliance is one such requirement where you must apply for a Tax Registration Certificate. Similarly, you’ll be issued with your Tax Identification Number (TIN) once you’ve fulfilled the requirements. The following documents are necessary for the application of the Tax Registration Certificate:
- Letter of application to the Tax Department
- Your company’s starting balance sheet
- A copy of the Investment License
- A copy of the Enterprise Registration Certificate
- Bank statement from the local bank
- List of personnel employee employed by the company
In the event you need any assistance on taxation matters, you can contact 3E Accounting at your convenient time and get professional services from highly qualified staff.
Company incorporate in Laos requires you to have a company stamp which validates all your documents. Likewise, every business must register for investment licenses granted by the relevant ministry depending on the type of business you’re venturing in.
Now, once you get the Enterprise Registration Certificate, you’re eligible by law to carve your company seal and submit it for approval to legitimize its authenticity. The company seal goes further in assisting you when opening your corporate bank account alongside your Enterprise Registration Certificate.
Laos Employment Act stipulates that every new company registers with Social Security for employee’s purposes. The registration is free of charge, and the process is straightforward.
3E Accounting offers you a fast and elaborate Company incorporate in Laos that is tailored to speed up the process. Get your documents ready and Contact Us to enjoy the best business solution services you desire.