After setting up a company consulting services in Laos
After completing the procedures for establishing a company in Laos, businesses need to implement a number of post-establishment procedures to ensure that the company can operate effectively and avoid other arising problems. Some post-establishment procedures can be mentioned including tax registration, opening a corporate bank account, applying for a business license (if any)… In addition, businesses also need to comply with regulations on labor, social insurance and other legal regulations related to business activities in Laos. Fully understanding and implementing these procedures not only helps businesses prevent legal risks but also builds a solid foundation for sustainable development in the Lao market. Viet An Law would like to introduce to customers the consulting services after establishing a company in Laos through the article below.
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Consulting services for seal engraving after setting up a company in Laos
The company seal is very important for businesses in Laos. The seal is authentic proof of the signature of the legal representative of the company, ensuring the legality of documents and transactions. In addition, the company seal also has the following characteristics:
Showing Formality: The seal shows the formality and prestige of the company in business activities and transactions with partners.
Prevent counterfeiting: Seals help prevent forgery of company signatures and documents, protecting the interests of businesses.
Regulations on company seals in Laos
Form and content: The company seal must follow the format prescribed by the Ministry of Industry and Trade (MOC). Usually, the seal is circular, engraved with the company’s name in Lao, and can be accompanied by the company’s logo.
Seal registration: After being engraved, the company seal must be registered at the Ministry of Industry and Trade. This registration helps confirm the legality of the seal and is recorded in the state’s management system.
Consulting services for tax registration after setting up a company in Laos
Tax registration is an important procedure for all businesses operating in Laos after completing the incorporation procedure. This registration helps businesses have a tax identification number (TIN – Tax Identification Number), allowing them to fulfill tax obligations in accordance with Lao law.
How to register for tax
Enterprises need to complete the tax registration form on the registration service website of the General Department of Taxation.
Tax registration dossiers
According to the information you provide, the tax registration dossier should include:
Proof of property tax payment or property information of the enterprise: For example, land tax payment receipts, land use right certificates or equivalent documents proving the ownership or use of the enterprise’s assets.
Bank Account Information: Provide your company’s bank account information within 15 business days of tax registration. Failure to provide this information may result in the revocation of certificates that have been issued by the General Department of Taxation.
Consulting services for opening a bank account after setting up a company in Laos
Opening a corporate bank account is an important step after setting up a company in Laos. The specific process may vary from bank to bank, but generally includes the following steps:
Prepare documents: Businesses need to prepare all documents as required by the bank, including:
Business registration certificate (notarized copy).
The company’s charter.
Identity documents of the legal representative (ID card/passport, notarized copy).
Corporate Tax Identification Number (TIN).
Other papers required by each bank (e.g. certificate of seal registration, minutes of meeting of the Board of Members).
Here are some popular banks in Laos that businesses can choose from:
Bank for Foreign Trade of Laos (BCEL): It is one of the largest and oldest banks in Laos.
Laos-Vietnam Joint Venture Bank (LaoVietBank): A joint venture bank between Vietnam and Laos, with many services and products suitable for businesses.
Lao Development Bank (LDB): The State Bank specializes in supporting economic development.
Indochina Bank: Foreign-invested bank.
Other banks: In addition, there are several other banks such as Agricultural Promotion Bank (APB), Sacombank Laos, etc.
Notify the Ministry of Labor and Vocational Training after establishing a company in Laos
Notifying the Ministry of Labour and Social Welfare (MLSW) is a mandatory step for all businesses operating in Laos. This is an important part of complying with labor laws and ensuring the rights of employees.
Submission of written declaration: Before starting business activities, enterprises must submit a written declaration to the Ministry of Labor. This document includes information about the business, the number of employees expected to be recruited, the type of work, etc.
Develop internal labor regulations (if there are 8 or more employees): Companies with 8 or more employees are required to have written internal labor regulations. This internal regulation must comply with the provisions of the Lao Labor Law, including:
Recruitment conditions.
Payroll regime.
Benefits (social insurance, health insurance, etc.).
Working and rest time.
Occupational safety and hygiene measures.
Regulations on leave.
Labor discipline.
Submission of internal labor regulations (if any): Internal labor regulations must be submitted to the Ministry of Labor within three months from the date of establishment of the company.
All businesses with at least one employee must register with the NSSF. This registration helps ensure that employees are entitled to social insurance benefits as prescribed.
Application with NSSF:
Business Registration Form.
Employee Registration Form.
The company’s business registration certificate.
License tax certificate.
Employee list.
Identity card or passport of the company representative.
Obligations after NSSF registration:
After successful application, the employer must submit the monthly NSSF contribution by the 15th of each month.
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