Expat Banking Expat Visa

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stumpy Laos Expert

Member since 27 November 2009

stumpyLaos Expert27 November 2009 06:41:10

17985

I am looking for info on above subjects.
I work overseas, have a Lao wife and daughter and travel to Vientiane every 4 months for leave.
Banks in Laos will not allow an expat to open an account without a work permit or business visa.
A business visa would give me a bank account and also a multiple entry visa instead of the single entry tourist visa.
Any ideas ???

somsanuk Member

Member since 10 January 2010

somsanukMember10 January 2010 04:20:04

It would be worth your while to get a Business visa on your next trip. Ask around and you will find a company who will 'employ' you and arrange the necessary paperwork, charging about $50-100. Passport & photos only, no visit to a government dept. Cost varies but around $550 (all inclusive) for a year, renewable. You may pay less in following years. Multi-entry visa, with WP and Foreign ID.

Open accounts with ANZ Laos - 100% ANZ Group owned (formerly Vientiane Commercial Bank and ANZV). Put some money in a Fixed Deposit in Lao kip and get 10% p.a. at BCEL, JDB and others. Some offer 12% p.a. for 2 years. ANZ offers only 5.75% p.a. now. Search 'lao banks' for more information.