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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If there is an agreement to amend the foreign loan agreement which is not contrary to current law and which retains or reduces 20044 loan quota, then the State commercial bank must sign an amendment agreement and 204 it 0 to current regulations on management and repayment of foreign loans borrowed by nhnnn i.
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. Effectiveness Circular 18 will take effect as from 15 October If you would like to learn how Lexology can drive your content marketing strategy forward, please email enquiries lexology.
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: 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.
Foreign loan means a medium- or long-term foreign loan namely a loan with a term above one year borrowed by a State commercial 90 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. Tf signing foreign loan contracts bear self-responsibility for the legal capacities, financial capabilities, loan contract-performing capabilities of the foreign lending parties.
Foreign exchange control applicable to state commercial banks borrowing foreign loans
However, as from 15 October 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.
Certification of foreign loan repayment registration means that the State Bank issues documents certifying that ht have already made foreign loan and loan repayment registration with the State Bank. Short-term loans shall be used for addition to their short-term credit capital sources.
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 a file requesting registration of the foreign loan.
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. Residential land nnhn rights for foreigners in Vietnam. 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: New Legislation Decision No.
The capital withdrawal and loan yt 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: A dossier of foreign loan, and loan repayment registration for enterprises being other than credit institutions shall include: The regulations on procedures for registration and registration of changes in overseas loans, including documental procedures and dossiers of registering loans.
Circular 18 also stipulates guidelines on registration of foreign borrowings and reporting regimes. 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. In this Circular, the phrases below shall be understood as follows: Send Us Your Comments: The SBV’s consideration and approval of foreign loans or international bond issuance for State commercial banks are based on: For any amendment made after this date, the relevant State commercial bank must be compliant with the provisions of Circular Any foreign loan agreement signed by a Nhnj 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 including licensed banks shall report thereon according to the provisions of this Circular.
Circular No.09/2004/TT-NHNN Guiding the foreign borrowing and repayment by enterprises
Besides, for 200, medium- or long-term loans, the enterprises shall have to produce other necessary documents and dossiers when so requested by the licensed banks. 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.
Share Facebook Twitter Linked In. Reporting on the implementation of short-term loans of enterprises, without making the capital withdrawal and loan repayment via licensed banks cases mentioned at Points 31 a31 b31 cSection V, Chapter III of this Circular. 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.
Foreign exchange control applicable to state commercial banks borrowing foreign loans – Lexology
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.
Vietnam October 12 Foreign loan contracts means foreign-loan agreements with capital-withdrawing nhn, 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. Foreign loans of enterprises shall include loans in the following forms: Enterprises being other than credit institutions may sign medium-,long-term foreign loan contracts only when satisfying the following conditions: Please contact customerservices lexology.
In case of refusal, the State Bank shall state the reasons therefor.