Thread: Bank account in laos

just wondering how easy it is to open a thai bank account in laos/vientienne for business reasons.

scotty

A Thai bank account in Vientiane?

I'm pretty sure you'll have top open a Lao bank account.

You can open a bank account with one of the Thai banks, such as Siam Commercial Bank. But in order to do this you must have a Lao work permit.

So it's a bit of a catch-22. I wanted to import 1 million baht last year to start up a small eco-resort. But I couldn't do that without a work permit and I couldn't (legally) get the WP without a business in Lao.

In the end, I told the bank to stuff it and said I would come back in a few years to see if they wanted my cash then.

Simon

thanks for that guys sc sounds interesting, "apparently i can get a lao business visa in ubon" for about 250$ us.

scotty

Originally Posted by highlander

thanks for that guys sc sounds interesting, "apparently i can get a lao business visa in ubon" for about 250$ us.

scotty

Look into getting it in Laos. Might be cheaper.

just recieved this e mail from kasikorn bank, so it looks as if i can open an account.

"According to your enquiry about opening new account at Vientiene in Laos, we would like to inform you that you can open an account at Kasikornbank branch in Thailand only as the original form must be signed in the presence of an official of the Bank.

We are sorry for this inconvenience. However, we would like to thank you for your interest in deposits product. If you need to know for more details, please do not hesitate to contact K-Contact Center at Tel. (66) 2888 8800 press 0 press 2 or email us at info[at]kasikornbank.com"

Service is our heart, so you can 'Leave everything in our hands'.
KASIKORNBANKGROUP Towards Service Excellence.

Best Regards,
Maylada Pootisirakorn
K-Contact Center


and thanks pol the pot might just look into that one..


regards scotty

Originally Posted by highlander

so it looks as if i can open an account.

Originally Posted by highlander

you can open an account at Kasikornbank branch in Thailand only

Sounds like you can't do it to me.


I have written to three Laos banks and asked what is needed to open an account.
If I get a reply I will let you know.
Don't hold your breath

Plenty of good information here. Laos Banks, Lao ATMs, LAK Kip Currency Exchange Rates April 2011

Yes, you need a work permit to open any bank account in Laos, be it a local or foreign bank. Also worth noting is that opening a bank account at a Thai bank in Laos does NOT give you access to the bank network in Thailand.

Originally Posted by English Noodles

Yes, you need a work permit to open any bank account in Laos

So if you are retired in Laos you have to send your pension to another country?

Originally Posted by Thetyim

So if you are retired in Laos you have to send your pension to another country?

I guess so. Or they can get a work permit by paying a sponsor about $700. Once the account is opened they no longer need the work permit.

Originally Posted by highlander

thanks for that guys sc sounds interesting, "apparently i can get a lao business visa in ubon" for about 250$ us.

scotty

Hi Scotty
Can you provide more info on how to get Lao work permit, many thanks.
Tomas

Originally Posted by English Noodles

Originally Posted by Thetyim

So if you are retired in Laos you have to send your pension to another country?

I guess so. Or they can get a work permit by paying a sponsor about $700. Once the account is opened they no longer need the work permit.

Can you help with getting work permit in Laos ?
Thank you.

Saiawardz - Home

Check the above website out, they car arrange a work permit for you as can several other companies, Saiawardz charge $600 USD However I believe that other companies are charging around $450 USD For the same service so shop around when you get there (That's what I am going to do!)

As for the bank account you don't actually need a work permit, my wife has been to the bank as I am moving out there soon and has been told that anyone can open a bank account with just their passport, they are trying to encourage people to invest in Kip savings accounts so are making it easy.

^Maybe you will find that she meant 'ASEAN' passport.

Ask your wife to confirm what bank statef this, please.

Originally Posted by English Noodles

^Maybe you will find that she meant 'ASEAN' passport.

Ask your wife to confirm what bank statef this, please.

Right OK I can now 100% Confirm that anyone can open a bank account, my wife confirmed this and a friend (British) has opened an account with a simple 30 day tourist visa so yeh anyone can open a Lao bank account (well with BCEL At least)

The thread is about opening an account with a Thai bank in Laos though.