09 2004 TT NHNN PDF

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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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 on November 1 st099 supersedes Article 1 of Circular No.

Please contact customerservices lexology. Competence to certify foreign loan and loan repayment registration or change registration: Dossiers of foreign loan, and loan repayment registration for enterprises being credit organizations shall include the documents prescribed at Points 25 a25 d and 25 eSection II, Chapter III of this Circular. 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.

Non-residents shall be understood according to the provisions of Vietnamese legislation on foreign exchange management. My saved default Read later Folders shared with you.

Foreign exchange control applicable to state commercial banks borrowing foreign loans

Enterprises must produce to the licensed banks where they make the loan repayment the following documents: Determining “fair market value” in a distressed market: The SBV’s consideration and approval of foreign loans or international bond issuance for State commercial banks are based on:. The enterprises shall have to supply all documents and necessary dossiers for the timely and effective inspection.

The regulations on acknowledging the registration and registration of changes, including the authority of acknowledging the registration and registration of changes in overseas loans; the basic condition for acknowledging; main substances of documents on acknowledging the registration of overseas loans; the processing of dossiers of registering or registering changes in overseas loans in case that the borrowers violate administrative procedures in foreign exchange management, borrowing and payment of overseas loans; the effect of documents of acknowledging the registration or registration of changes in overseas loans, revoking or terminating the effectiveness of documents of acknowledging the registration or registration of changes in overseas loans.

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 State commercial bank in the form of issuing international bonds on the international capital market.

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Foreign exchange control applicable to state commercial banks borrowing foreign loans – Lexology

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.

Enterprises must produce to the licensed banks where they make the loan repayment the following documents:. Foreign exchange control applicable to state commercial banks borrowing foreign loans Mayer Brown LLP. In case of refusal, the State Bank shall state the reasons therefor. Residential land use rights for foreigners in Vietnam. 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.

Short-term loans shall be used for addition to their short-term credit capital sources. Follow Please login to follow content.

If you would like to learn how Lexology can drive your content marketing strategy forward, please email enquiries lexology. Legal tips 20004 expats Health insurance for expats Where can foreigners get health check-ups in Vietnam? This Circular takes effect 15 days after its publication in the Official Gazette and replaces the 099 documents: 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.

Within 30 working days as from the date of signing foreign loan contracts and before withdrawing capital, the enterprises must register foreign loans and loan repayment with the State Bank. The SBV’s consideration and approval of foreign loans or international bond issuance for State commercial banks are based on: 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.

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. 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.

State-run credit institutions, hhnn credit institutions, cooperative credit institutions. After obtaining the SBV’s consent, the State commercial bank will sign the foreign loan agreement and other relevant documents.

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Foreign loan-borrowing enterprises hereinafter called enterprises include: 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.

Requirements on, and procedures for, foreign loan registration: 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 nnnn post, one set of a file requesting the SBV’s consent to borrowing the foreign loan or to the plan on issuing international bonds.

The regulations on procedures for registration and registration of changes in overseas loans, including documental procedures and dossiers of registering loans. Registration of cross-border loans to Vietnam borrowers: New Legislation Decision No.

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 certification of the quota on issuing international bonds, a State commercial bank must directly lodge with the Rt 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.

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 nhn value in accordance with the SBV’s guidelines on foreign exchange control applicable to issuance of international bonds i.

Circular No.09/2004/TT-NHNN Guiding the foreign borrowing and repayment by enterprises

The capital withdrawal and loan repayment transactions for foreign loans of enterprises may be effected via only one licensed bank, except for some following transactions where the licensed bank does not provide guarantee and services: 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.

Periodically or when necessary, the State Bank and relevant agencies shall inspect the situation of foreign loans and loan repayment by enterprises. For any amendment made after this date, the relevant State commercial bank must be compliant with the provisions of Circular