The dossier of the credit institution must be prepared in Vietnamese

19:50, 10/07/2024

On December 31, 2018, the State Bank of Vietnam issued Circular 51/2018/TT-NHNN stipulating the conditions, documentation, procedures, and processes for the approval of capital contribution and share purchase by credit institutions.

The dossiers of credit institutions must be prepared according to the following principles:

- The dossiers must be prepared in Vietnamese. In case the documents are issued, notarized, or certified by a foreign competent authority or organization, they must be consularly legalized according to the laws of Vietnam and translated into Vietnamese;- Translations from foreign languages into Vietnamese must be notarized or authenticated for the translator's signature;- The dossiers submitted must be either originals or certified copies from the main register or copies presented with the originals for comparison;- Documents of the credit institution requesting approval from the State Bank of Vietnam must be signed by the legal representative or the authorized representative. In case of signing by authorization, the dossier must include a written authorization.

More details can be found in Circular 51/2018/TT-NHNN effective from March 1, 2019.

- Thanh Lam -

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