Procedure for Changing the Location of the Branch Office of a Non-bank Credit Institution
What are the requirements for non-bank credit institutions to change the location of a branch office?
Pursuant to Clause 3, Section II of the amended administrative procedures, supplementing the field of establishment and banking operations carried out at the One-Stop Service Division under the management scope of the State Bank of Vietnam issued together with Decision 175/QD-NHNN of 2023 stipulates as follows:
Administrative procedures carried out at the State Bank branch of provinces and centrally governed cities
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3. Changing the location of a branch office of a non-bank credit institution
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-- Name of application form, declaration form: None.
- Requirements, conditions for implementing administrative procedures: A non-bank credit institution is only allowed to change the location of a branch office within the provincial or centrally governed city area where the branch office is located, and the proposed new location must meet the following requirements:
+ Having the legal ownership or use rights of the branch office; the office must ensure document storage, be convenient and safe for transactions, secure assets, and have adequate security systems, protection, continuous power supply, communication systems to maintain continuous operations, meet fire and explosion prevention requirements;
+ The branch office has a cash vault according to the regulations of the State Bank or a safe deposit box ensuring safety;
+ The branch has an IT system that connects online with the headquarters ensuring the IT system, the database operates continuously, safely, securely for professional activities and performs statistical reporting.
- Legal basis of administrative procedures:
+ The State Bank of Vietnam Law dated June 16, 2010;
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Thus, according to the regulations, a non-bank credit institution wanting to change the location of a branch office must meet the following requirements:
(1) Only allowed to change the location of the branch office within the provincial or centrally governed city area where the branch office is located
(2) The proposed new location must meet the following requirements:
- Having the legal ownership or use rights of the branch office;
- The office must ensure document storage, be convenient and safe for transactions, secure assets, and have adequate security systems, protection, continuous power supply, communication systems to maintain continuous operations, meet fire and explosion prevention requirements;
- The branch office has a cash vault according to the regulations of the State Bank or a safe deposit box ensuring safety;
- The branch has an IT system that connects online with the headquarters ensuring the IT system, the database operates continuously, safely, securely for professional activities and performs statistical reporting.
Procedure to change the location of a branch office of a non-bank credit institution
How long is the processing time for the request to change the location of a branch office of a non-bank credit institution?
Pursuant to Clause 3, Section II of the amended administrative procedures, supplementing the field of establishment and banking operations carried out at the One-Stop Service Division under the management scope of the State Bank of Vietnam issued together with Decision 175/QD-NHNN of 2023 stipulates as follows:
Administrative procedures carried out at the State Bank branch of provinces and centrally governed cities
...
3. Changing the location of a branch office of a non-bank credit institution
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+ Resolution of the Member Council or resolution of the Board of Directors approving the change of the branch office location or a document of another competent authority as prescribed in the Charter of the non-bank credit institution.
- Number of dossiers: 01 set of documents.
- Processing time: 10 working days from the date of receiving the complete dossier.
- Subject implementing administrative procedures: Organization.
- Agency handling administrative procedures: State Bank branch of the province, city.
- Result of administrative procedure implementation: Written approval.
- Fee: None.
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Thus, according to the regulations, the processing time for a request to change the location of a branch office of a non-bank credit institution is 10 working days from the date of receiving the complete dossier.
How is the procedure to change the location of a branch office of a non-bank credit institution carried out?
Pursuant to Clause 3, Section II of the amended administrative procedures, supplementing the field of establishment and banking operations carried out at the One-Stop Service Division under the management scope of the State Bank of Vietnam issued together with Decision 175/QD-NHNN of 2023 stipulates as follows:
Administrative procedures carried out at the State Bank branch of provinces and centrally governed cities
...
3. Changing the location of a branch office of a non-bank credit institution
- Procedure:
Step 1: The non-bank credit institution prepares 01 set of dossiers as prescribed and submits it to the State Bank branch where the branch office is located requesting a change of branch office location. If the dossier is incomplete or invalid, within 5 working days from the date of receiving the dossier, the State Bank branch will issue a written request for the non-bank credit institution to supplement and complete the dossier.
Step 2: Within 10 working days from the date of receiving the complete dossier, the State Bank branch where the branch office is located will issue a written approval or disapproval for the change of branch office location; in case of disapproval, the document must clearly state the reason.
- Implementation method:
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Thus, the procedure to change the location of a branch office of a non-bank credit institution includes the following steps:
Step 1: The non-bank credit institution prepares 01 set of dossiers as prescribed and submits it to the State Bank branch where the branch office is located requesting a change of branch office location.
If the dossier is incomplete or invalid, the State Bank branch will issue a written request for the non-bank credit institution to supplement and complete the dossier within 5 working days from the date of receiving the dossier.
Step 2: Within 10 working days from the date of receiving the complete dossier, the State Bank branch where the branch office is located will issue a written approval or disapproval for the change of branch office location;
In case of disapproval, the document must clearly state the reason.
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