Laos regulates unlicensed foreign business

VIENTIANE, July 5 (Xinhua) -- The Lao Ministry of Industry and Commerce recently issued instructions with detailed guidelines on how to regulate unlicensed foreign businesses.

Any business being operated without a valid registration and license will be fined 10 million Lao kip (some 1,153 U.S. dollars) and operations suspended. The illegal operators are required to register their enterprises and apply for a business license within 90 days and then they can resume operations, according to the guidelines that came into force on Wednesday.

Those failing to abide by the guidelines to legalize their businesses within the defined period will be fined another 10 million Lao kip and their businesses will be shut down permanently, their information will be compiled and submitted to the Ministry of Labor and Social Welfare and the Ministry of Public Security and they will be deported. Those using licenses of other people to operate businesses will face similar actions.

The move comes after repeated reports of foreigners having entered Laos on tourist visas and running businesses illegally, local daily Vientiane Times reported on Friday.

The ministry has warned foreigners who are operating businesses beyond the purview of their licensed areas to stop their work or they will be fined 3 million Lao kip (some 346 U.S. dollars). Those committing secondary infringements will be fined an additional 5 million Lao kip (some 576 U.S. dollars).

Those wanting to operate businesses beyond the purview of their proposed licenses have been directed to upgrade their licences.

However, foreigners can apply for legalizing their businesses only in case their businesses are in the list of businesses allowed for foreigners in Laos. Those engaged in businesses reserved for Lao people will be deported.

Authorities have also warned those lending their premises to foreigners to operate businesses without permission, such people will be punished under the relevant sections of the law.

The ministry has urged the provincial Industry and Commerce Departments to work urgently with district offices to inspect and implement these instructions, according to the report. Enditem

[ Editor: WPY ]


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