What are the procedures for issuance of license for the establishment and operation of a joint-stock non-banking credit institution when removing the paper household registration book in Vietnam?
- What are the procedures for issuance of a license for the establishment and operation of a joint-stock non-banking credit institution when removing the paper household registration book in Vietnam?
- What is included in the application for issuance of License for establishment and operation of a joint stock non-banking credit institution in Vietnam?
- How much is the fee for issuance of a license to establish and operate a joint-stock non-banking credit institution in Vietnam?
What are the procedures for issuance of a license for the establishment and operation of a joint-stock non-banking credit institution when removing the paper household registration book in Vietnam?
Pursuant to Part II of the Appendix issued together with Decision No. 658/QD-NHNN in 2023, stipulating the procedure for issuance of the establishment and operation license of a joint-stock non-banking credit institution when removing the paper household registration book as follows:
- Step 1: The Preparatory Board for the establishment of a non-banking credit institution sends directly or by post to the State Bank of Vietnam the application for the License for establishment and operation of a joint-stock non-banking credit institution.
- Step 2: Within 30 days from the date of receiving the application file for a License, the State Bank of Vietnam shall send a document to the Preparatory Board confirming receipt of all valid documents for consideration and approval in principles. In case the dossier of application for a License is incomplete, the State Bank of Vietnam shall send a written request to the Preparatory Board to request additional documents.
- Step 3: Within 90 days from the date of sending the written confirmation of receipt of complete and valid dossiers, the State Bank of Vietnam shall issue a written approval in principle for the establishment of non-banking credit institutions. In case of disapproval, the State Bank of Vietnam shall reply in writing, clearly stating the reason for disapproval.
- Step 4: Within 60 days from the date of receipt of the written approval in principle of the establishment of a non-banking credit institution, the Preparatory Board shall send the documents supplementing the application for the License directly or by post to the State Bank of Vietnam.
Past the above time limit, if the State Bank of Vietnam does not receive or receive incomplete documents supplementing the application for a License, the written approval in principle is no longer valid.
- Step 5: Within 05 working days from the date of receipt of all additional documents, the State Bank of Vietnam shall certify in writing that the documents have been fully received.
- Step 6: Within 30 days from the date of receipt of all additional documents, the State Bank of Vietnam shall issue the License according to regulations. In case of refusal to grant a License, the State Bank of Vietnam shall reply in writing, clearly stating the reason for not granting the License.
What are the procedures for issuance of a license for the establishment and operation of a joint-stock non-banking credit institution when removing the paper household registration book in Vietnam?
What is included in the application for issuance of License for establishment and operation of a joint stock non-banking credit institution in Vietnam?
Pursuant to Part II of the Appendix issued together with Decision No. 658/QD-NHNN in 2023, stipulating the application for a license for establishment and operation of a joint-stock non-banking credit institution, including:
- An application for a license.
- The draft charter of the non-banking credit institution was approved by the founding meeting.
- The project to establish a non-banking credit institution was approved by the establishment conference.
- Documents proving the capacity of the proposed administration, control and administration apparatus
Minutes of the establishment meeting approving the draft Charter, the project on establishing the non-banking credit institution, the list of expected management, control and executive positions and the selection of the Preparatory Board, the Head of the Preparatory Board.
- List of founding shareholders, shareholders contributing capital to the establishment.
- Profile of shareholders contributing capital to the establishment
After being approved in principle by the State Bank of Vietnam, the non-banking credit institution shall submit the following additional documents:
The charter of the non-banking credit institution has been approved by the General Assembly;
- Minutes and resolutions of the founding meeting on the approval of the Charter, election of members of the Board of Directors, members of the Supervisory Board, regulations on the organization and operation of the Board of Directors and the Supervisory Board;
- Minutes of the Board of Directors meeting on the election of the Chairman of the Board of Directors; Minutes of the Supervisory Board meeting on the election of the title of Head of the Control Board and full-time members of the Supervisory Board;
- Decision of the Board of Directors on the appointment of the title of General Director (Director), Deputy General Director (Deputy Director), Chief Accountant;
- A document of a Vietnamese commercial bank where the Preparatory Committee opens a capital contribution account certifying the capital contribution amount of capital-contributing shareholders;
- Documents proving the legal ownership or right to use the location of the head office;
- The internal regulations on the organization and operation of the non-banking credit institution which have been established by the General Meeting and approved by the Board of Directors;
- Report of the founding shareholder being a Vietnamese commercial bank or a Vietnamese enterprise on compliance with legal regulations from the time of submitting the application for a License to the time of submitting an additional application for consideration for a License.
How much is the fee for issuance of a license to establish and operate a joint-stock non-banking credit institution in Vietnam?
Pursuant to Part II of the Appendix issued together with Decision No. 658/QD-NHNN in 2023, the fee for issuance of a license for the establishment and operation of a joint-stock non-banking credit institution is VND 70,000,000.
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