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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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.
Enterprises being credit institutions, apart from the conditions 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. Enterprises must produce to the licensed banks where they make the loan repayment the following documents: 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.
Enterprises signing foreign loan contracts bear self-responsibility for the legal capacities, financial capabilities, loan contract-performing capabilities of the foreign lending parties. My saved default Read later Folders shared with you. After obtaining the SBV’s consent, the State commercial bank will sign the foreign loan agreement and other relevant documents. Guiding foreign loans and loan repayment by enterprises Updated: All amendments and supplements to this Circular shall be decided by the State Bank Governor.
Foreign exchange control applicable to state commercial banks borrowing foreign loans – Lexology
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. For foreign loans signed before this Circular takes effect and being in the process of capital withdrawal, loan repayment, enterprises shall comply with the following: Scope and applicability Circular 18 provides for the principles, sequence and procedures for assessing and implementing the borrowing of non-Government guaranteed foreign loans by State commercial banks.
If you would like to learn how Lexology can drive your content marketing strategy forward, please email enquiries lexology. The reports are made according to a set form. These banks are responsible for effectively using such loans for the right purpose and bear all the risks associated with the loans. Reporting on the situation of medium- long-term loans and loan repayment according to a set form.
Enterprises may get short-term loans for addition to their working capital without calculating them into the maximum control limits ft the total investment capital prescribed in the ty licenses.
Legal tips for expats Health insurance for expats Where can foreigners get health check-ups in Vietnam? 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.
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.
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. In principle, State tg banks are only allowed to contract foreign loans upon written approval of the SBV.
Foreign exchange control applicable to state commercial banks borrowing foreign loans
Residential land use rights for foreigners in Vietnam. Foreign loans of enterprises shall include loans in the following forms: Besides, for short- medium- or long-term loans, the enterprises shall have to produce other necessary documents and dossiers when so requested by the licensed banks.
The SBV’s consideration and approval of foreign loans or 0204 bond issuance for State commercial banks are based on:. The regulations on procedures for registration and registration of changes in overseas loans, including documental procedures and dossiers of registering loans.
Circular No.09/2004/TT-NHNN Guiding the foreign borrowing and repayment by enterprises
Competence to certify foreign loan and loan repayment registration or change registration: Foreign exchange control applicable to state commercial banks borrowing foreign loans Mayer Brown LLP. The enterprises shall have to supply all documents and necessary dossiers for the timely and effective inspection.
Vietnam October 12 The enterprises 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. Follow Please login to follow content. Foreign loan means a medium- or long-term foreign loan namely a loan with a term above one year borrowed by a State commercial bank from a foreign credit institution or foreign financial institution which is not a resident of Vietnam, or a foreign loan borrowed by a Njnn commercial bank in the form of issuing international bonds on the international capital market.
Translated by Le Hang. 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 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.
The licensed banks must comply with the following regulations when effecting capital withdrawals and foreign loan repayments for enterprises: New Legislation Decision No. 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. Effectiveness Circular 18 will take effect as from 15 October