The Lao government has announced a new regulation requiring all land sale and purchase payments to be made exclusively through bank transfers using the Bank of Lao system, with transactions to be conducted in Lao Kip.
The regulation, issued on 10 April, will take effect on 26 May.
The Ministry of Natural Resources and Environment stated that the move is intended to ensure greater transparency in land transactions, reduce the use of cash and foreign currencies, and combat money laundering.
It also aims to support the value of the national currency by encouraging more domestic financial activity to take place in Lao Kip.
Under the new rules, individuals involved in land transactions must complete payments through an online banking system. Supporting documents, including land ownership transfer forms and banking details of both buyer and seller, must be submitted to complete the process.
Key documents required include the payer’s name, bank account numbers of both parties, and a clear statement of the transaction’s purpose.
For those without access to online banking—particularly residents in rural areas or households living in poverty—a license from local village authorities will be required before proceeding with land transfers.
Transactions completed before the regulation was issued are still valid, and buyers may continue with the process of transferring land rights.
The measure is part of a broader push to modernize Laos’s financial systems and reinforce trust in the national currency through more accountable, traceable land dealings.