Laos Facts And Figures

Facts About Laos

Information Type	Laos Data
Population	7,275,560 (June 2020 est.)
Gross Domestic Product (GDP)	US$20.50 billion (2020 est.)
GDP Per Capita	US$2,919 (2020 est.)
Inflation Rate	6.5% (2020 est.)
Currency	Kips (LAK)
Exchange Rate Versus U.S. Dollar	9030.00 kips (LAK) per 1 US dollar (June 2020)
Language	Lao (official), French, English, various ethnic languages
Capital	Vientiane
Population of Capital City	683,000 (2020)
Time Zone	UTC/GMT +7 hours
Seasons	Wet and dry (wet season runs from around May to October)
International Dialing Code	856
Electricity	230V, 50 Hz
System of Government	Communist state
Name and Party Affiliation of Current Leader	President Bounnyang Vorachit (Since April 2016) (Lao People’s Revolutionary Party)
Income Tax Rate for Residents	Income tax is levied at progressive rates from 5% to 25%
Property Tax	Vary depending on the location and the type of the land.Is levied at annual rates per square meter.
Capital Gains Tax	Income tax is levied on capital gains derived from selling real property.
Inheritance Tax	No
Rental Income Tax	15%
Transfer Tax	Immaterial amount – depending on type of property- based on the sales price aprox. 2.4%
Sales Tax	10%
Restrictions on Foreign Ownership of Property	Laos law stipulates that foreign citizens may not own land
Local Chamber of Commerce
American Chamber of Commerce
Primary Exports	Wood products, coffee, electricity, tin, copper, gold
Residency and Visa Requirements	Tourist Visas (B3) – Upon arrival now into Lao you receive a 1 month tourist visit for $35, this however is easily extended to 3 months but a visit to the immigration department
Special Benefits for Foreign Residents or Retirees	No
National Airline	Lao Airlines

Traveling Visa Free: How To Avoid The Hassle Of Tourist Visas

by Paul Terhorst

May 10, 2018

These days Vicki and I try to only do visa-free travel. That is, we only visit countries that allow us to enter without requiring we go through a cumbersome visa process. Some countries still require that we show up at their consulate somewhere. Once there we have to fill out a form, present a picture, and sometimes show plane tickets, hotel reservations, bank statements, a detailed itinerary, and so on. Then we have to wait a few days, leaving our...