What is the application for approval for change of location of branch of non-bank credit institutions in Vietnam?
- What is the application for approval for change of location of branch of non-bank credit institutions in Vietnam?
- What are the procedures for change of location of branch of non-bank credit institutions in Vietnam?
- What is a dossier of voluntary termination of operation or dissolution of a branch of a non-bank credit institutions in Vietnam?
What is the application for approval for change of location of branch of non-bank credit institutions in Vietnam?
Pursuant to Clause 2, Article 13 of Circular 53/2018/TT-NHNN of Vietnam stipulating as follows:
Change of branch’s location
1. The non-bank credit institution is allowed to change its branch's location within the same province or city where the branch is located provided that the new location of branch must meet the requirements specified in Points a (i), a (ii) and a (iii) Clause 2 Article 10 hereof.
2. An application for approval for change of branch’s location includes:
a) The application form for approval for change of the branch’s location which is made by the non-bank credit institution and includes, inter alia, the following contents: the current location; the location where the branch is going to be moved to, which must meet the requirements specified in Clause 1 of this Article; the plan for relocation of the branch office which must ensure the branch’s uninterrupted operations;
b) The resolution on approval for the change of the branch’s location made by the Board of Members or the Board of Directors of the non-bank credit institution, or other documents of equivalent validity made by other authorities of the non-bank credit institution as regulated in its Charter.
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Thus, according to the above regulations, the application for approval for change of location of branch of non-bank credit institutions in Vietnam includes:
- The application form for approval for change of the branch’s location which is made by the non-bank credit institution and includes, inter alia, the following contents:
+ The current location;
+ The location where the branch is going to be moved to, which must meet the requirements specified in Clause 1 Article 13 of Circular 53/2018/TT-NHNN of Vietnam;
+ The plan for relocation of the branch office which must ensure the branch’s uninterrupted operations;
- The resolution on approval for the change of the branch’s location made by the Board of Members or the Board of Directors of the non-bank credit institution, or other documents of equivalent validity made by other authorities of the non-bank credit institution as regulated in its Charter.
What is the application for approval for change of location of branch of non-bank credit institutions in Vietnam?
What are the procedures for change of location of branch of non-bank credit institutions in Vietnam?
Pursuant to Clauses 3 and 6, Article 13 of Circular 53/2018/TT-NHNN of Vietnam (amended by Clause 2, Article 2 of Circular 27/2022/TT-NHNN of Vietnam) stipulating the procedures for change of location of branch of non-bank credit institutions in Vietnam as follows:
- The non-bank credit institution shall make 01 set of dossier as prescribed in Clause 2, Article 13 of Circular 53/2018/TT-NHNN of Vietnam and send it to the State Bank branch where the branch is located. In case the dossier is incomplete or invalid, within 5 working days from the date of receipt of the dossier, the State Bank branch shall send a written request to the non-bank credit institution to supplement and complete the dossier.
- Within 10 working days from the date of receipt of complete documents as prescribed in Clause 2, Article 13 of Circular 53/2018/TT-NHNN of Vietnam, the State Bank branch where the branch office is located shall send a document to a non-bank credit institution to approve or disapprove the change of the branch office location; in case of disapproval, the document sent to the non-bank credit institution must clearly state the reason.
- In case of change of branch office address due to change of administrative boundary (no change of branch office location), non-bank credit institution shall send a written request to the State Bank branch to confirm the change of branch office address. The written request of a non-bank credit institution must be enclosed with documents proving the change of address mentioned above.
- Within 05 working days from the date of receipt of the written request of non-bank credit institution, the State Bank branch where the branch is located shall send a written request to the non-bank credit institution for confirmation ofthe change of branch office address.
What is a dossier of voluntary termination of operation or dissolution of a branch of a non-bank credit institutions in Vietnam?
Pursuant to Clause 1, Article 18 of Circular 53/2018/TT-NHNN of Vietnam, the application for voluntary termination of operation or dissolution of a branch of a non-bank credit institution includes:
- A written request by the non-bank credit institution for operation termination or branch dissolution, clearly stating: reasons for operation termination or dissolution; name and address of the branch that terminates operation or dissolves and commits to settle the assets, rights, obligations and related interests of the branch that terminates operation or dissolves.
- Resolution of the Board of Directors or Board of Members of the non-bank credit institution on the termination of operation, dissolution of the branch or a document of other competent authorities as prescribed in the charter of the non-bank credit institution.
- A plan to settle the assets, rights, obligations and related interests of the branch that terminates its operation or is dissolved.
Circular 27/2022/TT-NHNN of Vietnam takes effect from March 1, 2023.
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