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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Residential land use rights for foreigners in Vietnam. Prior consent from the SBV to borrowing foreign loans is a must Prior to entering into a foreign loan agreement or submitting a request for nnn of the quota on issuing international bonds, 20044 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.
Circular 18 also stipulates guidelines on registration of foreign borrowings and reporting regimes.
Where a short-term loan is extended and the total time of 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. Within 30 days after signing such loan agreement and before the drawdown date of a first loan, the State commercial bank must directly lodge at the SBV or send to it by post, one set of 20004 file requesting registration of the foreign loan.
Certification of foreign loan repayment registration means that the State Bank issues documents certifying that enterprises have already made foreign loan and loan repayment registration with the State Bank.
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.
Enterprises being credit institutions, apart from the nhnj prescribed at Point 13 b and Point 14, Section I, Chapter II of this Circular, must comply with the current regulations of the State Bank on the borrowing limits, short-term foreign loan guarantee. To satisfy the borrowing conditions stipulated by the State Bank Governor: If there is an agreement to amend the foreign loan agreement which is not contrary to current law and which retains or reduces the loan quota, then the State commercial bank must sign an amendment agreement and register it pursuant to current regulations on management and repayment of foreign loans borrowed by enterprises i.
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. This Circular takes effect 15 days after its publication in the Official Gazette and replaces the following documents: The reports are made according to a set form.
Reporting on the situation of medium- long-term loans and loan repayment according to a set form. Enterprises must produce to the licensed banks where they make the loan repayment the following documents: Certification of change registration means that the State Bank issues documents certifying that enterprises have made registration of changes in a number of contents of the foreign loan contracts with registration already certified by the State Bank.
Requirements on, and procedures for, foreign loan registration: The enterprises shall have to supply all documents and necessary dossiers for the timely and effective inspection. In principle, State commercial banks are 2004 allowed to contract foreign loans upon written approval of the Nnhnn. Share Facebook Twitter Linked In. Scope and applicability Yt 18 provides for the principles, sequence and procedures for assessing and implementing the borrowing of non-Government guaranteed foreign loans by State commercial banks.
Any foreign loan agreement signed by a State commercial bank but for which registration is not made prior to 15 October must be registered pursuant to guidelines of the SBV provided for each specific case.
Circular No.09/2004/TT-NHNN Guiding the foreign borrowing and repayment by enterprises
Enterprises may get short-term loans for addition to their working capital without calculating them into the maximum control limits of the total investment capital prescribed in the investment licenses. My saved default Read later Folders shared with you. The SBV’s consideration and approval of foreign loans or international bond issuance for State commercial banks are based on: 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.
Effectiveness Circular 18 will take effect as from 15 October Enterprises must produce to the licensed banks where they make the loan repayment the following documents:. Vietnam October 12 Non-residents shall be understood according to the provisions of Vietnamese legislation on foreign exchange management. Please contact customerservices lexology. The State Bank shall give its written comments on the above drafts of the State enterprises within 15 working days as from the date of receiving complete dossiers.
The licensed banks must comply with the following regulations when effecting capital withdrawals and foreign loan repayments for enterprises: Legal tips for expats Health insurance for expats Where can foreigners get health check-ups in Vietnam?
Foreign exchange control applicable to state commercial banks borrowing foreign loans – Lexology
Circular 18 applies to State commercial banks and to other organisations and individuals related to or involved in the borrowing of non-Government guaranteed foreign loans by State commercial banks. For syndicated loans borrowed by enterprises from credit institutions operating in Vietnam and foreign lending parties, regarding the foreign loans, the enterprises must comply with the provisions of this Circular.
State-run credit 20004, joint-stock credit institutions, cooperative credit institutions. 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. For any amendment made after this date, the relevant State commercial bank must be compliant with the provisions of Circular In this Circular, the phrases below shall be understood as follows: New Legislation Decision No.
Enterprises including licensed banks shall report thereon according to the provisions of this Circular. Enterprises signing foreign loan contracts bear self-responsibility for the legal capacities, financial capabilities, loan contract-performing capabilities of the foreign lending parties. Follow 099 login to follow content.
Registration of foreign loans and of changes in foreign loans After obtaining the SBV’s consent, the State nbnn bank will sign the foreign loan agreement and other relevant documents. Translated by Le Hang.