Forms of organization of non-bank credit institutions in Vietnam

08:48, 29/12/2015

On December 25, 2015, the State Bank of Vietnam issued Circular No. 30/2015/TT-NHNN providing regulations on issuance of licenses, organization and operation of non-bank credit institutions, which specifies the organization of non-bank credit institutions.

According to Circular No. 30/2015/TT-NHNN of the State Bank of Vietnam, domestic non-bank credit institutions are established and organized as follows:

- Joint-stock companies established by shareholders as organizations and individuals in the form of capital contribution;

- Single member limited companies owned by a Vietnamese commercial bank;

- Multi-member limited liability companies capitalized by a Vietnamese commercial bank and a Vietnamese enterprise (of which a Vietnamese commercial bank owns at least 30% of total charter capital of the non-bank credit institutions) or by Vietnamese commercial banks.

Moreover, joint-stock non-bank credit institutions are established and organized in the form of multi-member limited liability companies with capital contributed by Vietnamese side (including one or more Vietnamese commercial banks, Vietnamese enterprises) and foreign side (including one or more foreign credit institutions) based on a joint-venture contract.

View detailed forms of organization of non-bank credit institutions at Circular No. 30/2015/TT-NHNN of the State Bank of Vietnam, effective from February 08, 2016.

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