What is included in the application for issuance of the establishment and operation license to a private securities investment company in Vietnam?
- What is included in the application for issuance of the establishment and operation license to a private securities investment company in Vietnam?
- Under what conditions can a securities investment company change its charter capital?
- What is the application form for issuance of the establishment and operation license to a public investment company in Vietnam?
What is included in the application for issuance of the establishment and operation license to a private securities investment company in Vietnam?
Pursuant to Article 261 of Decree No. 155/2020/ND-CP stipulating the application for issuance of the establishment and operation license.
According to regulations, the application for issuance of the establishment and operation license to a private investment company includes:
- The application form enclose with the document authorizing a securities investment fund management company or shareholder representative to complete company establishment procedures.
- The draft charter of the company according to the model charter provided by the Ministry of Finance.
- The asset depositing contract with the depository bank.
- The agreement among the shareholders on establishment of the private investment company which specifies the company’s name, the securities investment fund management company (if any), the depository bank, supervisory bank (if any), contributing shareholders and amount of capital contributed by each shareholder.
- The depository bank’s confirmation of contributed capital, contributed securities (if any), quantities and ticker symbols of securities contributed by each shareholder, date of recording of securities into the depository account of the investment company enclosed with the securities valuation record prepared by the depository bank.
- The list of shareholders, intended personnel and personal information sheets according to form No. 91 and form No. 105 in the Appendix hereof; the Certificate of Enterprise Registration, decision of the competent authority on contribution of capital to establishment of the investment company of shareholders that are organizations; judicial records of members of the Board of Directors, the Director/General Director that are issued within the last 06 months before the application is submitted.
- In case the investment company authorizes a securities investment fund management company to manage its capital, the following documents shall also be included: the investment management contract with the securities investment fund management company; the supervision contract with the supervisory bank.
- In case the investment company manages its own capital, the application shall also contain the premises lease contract, documents about the right to ownership or enjoyment of the premises.
What is included in the application for issuance of the establishment and operation license to a private securities investment company in Vietnam?
Under what conditions can a securities investment company change its charter capital?
Pursuant to the provisions of Article 262 of Decree No. 155/2020/ND-CP on the conditions for increase and decrease in charter capital of an investment company as follows:
- The General Meeting of Shareholders has approved the capital decrease or follow-on offering; the plan for follow-on offering or capital decrease.
- In case of decrease in charter capital, the company shall ensure that the charter capital after decrease and net asset value are not smaller than 50 billion VND.
- In case of charter capital increase by follow-on offering of shares or scrip issue, the company shall have adequate sources of financing from share premium and undistributed post-tax profits according to the latest audited or examined financial statement.
- In case of capital increase by offering or issuance, the company shall comply with regulations on public securities offering (for public investment companies), private placement (for private investment companies) and issuance to existing shareholders.
- For private investment companies: There are not more than 99 shareholders. Shareholders that are organizations shall contribute at least 03 billion VND. Shareholders that are individuals shall contribute at least 01 billion VND.
What is the application form for issuance of the establishment and operation license to a public investment company in Vietnam?
The application form for issuance of the establishment and operation license to a public investment company is made according to Form No. 92 of the Appendix issued together with Decree No. 155/2020/ND-CP as follows:
Download the application form for issuance of the establishment and operation license to a public investment company: Click here.
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