Circular No//TT-NHNN Guiding the foreign borrowing and repayment by Please download the circular here: 09__TT-NHNN. Circular 25 replaces in part Circular 09//TT-NHNN dated December on foreign loans and Circular 25//TT-NHNN dated The new Circular will take effect from 15 April, and replace Circulars 09//TT- NHNN and 25//TT-NHNN, thereby consolidating the regulations on this.
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State-run credit institutions, joint-stock credit institutions, cooperative credit institutions.
Legal tips for expats Health insurance for expats Where can foreigners get health check-ups in Vietnam? After obtaining the SBV’s consent, the State commercial bank will sign the foreign loan agreement and other relevant documents. Prior to entering into a foreign loan agreement or submitting a request for certification of the quota on issuing international bonds, a State commercial bank must directly lodge with the SBV Department of Foreign Exchange Control or send to it by post, one set of a file requesting the SBV’s consent to borrowing the foreign loan or to the plan on issuing international bonds.
My saved default Read later Folders shared with you. The regulations on the reporting regime of borrowers, credit institutions, foreign bank branches and SBV branches of provinces and the cities directly under the central government This Circular will take effect njnn November 1 stand supersedes Article 1 of Circular No.
Foreign exchange control applicable to state commercial banks borrowing foreign loans
tg Where a short-term loan is extended and the total time hnnn the extension duration and the short-term loan term exceeds one year, enterprises must register it with the State Bank within 30 working days as from the date of signing the extension contract and comply with the provisions of this Circular on medium- long-term loans. For any amendment made after this date, the relevant State commercial bank must be compliant with the provisions of Circular The SBV’s consideration and approval of foreign loans or international bond issuance for State commercial banks are based on:.
Send Us Your Comments: Registration of cross-border loans to Vietnam borrowers: Effectiveness Circular 18 will take effect as from 15 October Non-residents shall be tg according to the provisions of Vietnamese legislation on foreign exchange management.
Foreign loan contracts means foreign-loan agreements with capital-withdrawing effect, which prescribe the terms and conditions of foreign loans, such as contracts on deferred-payment goods purchase, credit contracts, financial-leasing contracts and other foreign-loan agreements.
Circular No.09/2004/TT-NHNN Guiding the foreign borrowing and repayment by enterprises
Circular 18 also stipulates guidelines on registration of foreign borrowings and reporting regimes. The licensed banks must comply with the following regulations when effecting capital withdrawals and foreign loan repayments for enterprises: Currently the borrowing of medium- and long-term foreign loans by Vietnamese business establishments including State commercial banks in Vietnam is subject to a common registration mechanism. Nhn loan-borrowing enterprises hereinafter called enterprises include: In cases where enterprises withdraw capital, repay loan via a licensed bank but wish to shift to another licensed bank, they must settle all capital withdrawal and loan repayment transactions at the former bank; if they are medium- or long-term loans, the enterprises must register with the State Bank the change of capital withdrawal, loan repayment service-providing banks.
A dossier of foreign loan, and loan repayment registration for enterprises being other than credit institutions shall include: Reporting nnhnn the situation of medium- long-term loans and loan repayment according to a set form.
Upon obtaining the SBV’s approval on the plan for the international bond issue pursuant to Circular 18, the issuing bank must follow the procedure for obtaining the certification of the quota and registration of the international bonds value in accordance with the SBV’s guidelines on foreign exchange control applicable to issuance of international bonds i. All amendments and supplements to this Circular shall be decided by the State 200 Governor.
The SBV must, within 15 working days from receipt of a complete and valid file from a State commercial bank, provide written consent or non-consent to a foreign loan or to a plan on issuance of international bonds.
Within 30 days after signing such loan agreement and before the drawdown nhhn of a first loan, the State commercial bank must directly lodge at the SBV nnnn send to it by post, one set of a file requesting registration of the foreign loan. Residential land use rights for foreigners in Vietnam.
Any foreign loan borrowed by State commercial banks for which registration including registration of amendments was made prior to 15 October will continue to be implemented pursuant to the SBV’s registration certificate.
In cases where enterprises do not withdraw capital but only make loan repayment through the licensed banks, within 5 working days as from the date of withdrawing the capital, the enterprises must notify in writing the licensed banks where the enterprises make the loan repayment of the capital withdrawal date and the withdrawn capital amounts under foreign loan contracts.
New Legislation Decision No. Requirements nhnm, and procedures for, foreign loan registration: For foreign-invested enterprises, apart from the conditions prescribed at Point 13 a and Point 14, Section I, Chapter II of this Circular, they may sign short-term loan contracts only when satisfying the following conditions: Share Facebook Twitter Linked In.
Enterprises signing foreign loan contracts bear self-responsibility for the legal capacities, financial capabilities, loan contract-performing capabilities of the foreign lending parties. The regulations on the governing scope; implementers; overseas loans which are required to be registered with the SBV; maturities of loans in order to define the registering obligation; the borrowers who do the registration or registration of changes in overseas loans and overseas loan agreements with the SBV.
The nhhnn must register the changes with the State Bank within 30 working days as from the date of signing the change agreements and before the changes take effect.
Foreign exchange control applicable to state commercial banks borrowing foreign loans – Lexology
Enterprises being other than credit institutions may sign medium-,long-term foreign loan contracts only when satisfying the following conditions: In principle, State commercial banks are only allowed to contract foreign loans upon written approval of the SBV.
However, as from 15 October i.
Enterprises being credit institutions may sign medium- long-term foreign loan contracts only when satisfying the following conditions: