What are conditions for a foreign organization to hold 100% charter capital of a securities company by contributing capital or buying shares/stakes in Vietnam?
What are conditions for a foreign organization to hold 100% charter capital of a securities company by contributing capital or buying shares/stakes in Vietnam? What are requirements of quantities of shareholders and contributing members of securities companies in Vietnam?
What are conditions for a foreign organization to hold 100% charter capital of a securities company by contributing capital or buying shares/stakes in Vietnam?
What are conditions for a foreign organization to hold 100% charter capital of a securities company by contributing capital or buying shares/stakes in Vietnam? Thank you!
Answer:
Pursuant to Clause 2 Article 77 of the Law on Securities in 2019, in order to hold 100% charter capital of a securities company or fund management company by contributing capital or buying shares/stakes, a foreign organization shall:
- Be licensed and has been continuously operating in the field of banking, securities, insurance for 02 years before the year in which capital is contributed or shares/stakes are purchased.
- The home country’s licensing authority and SSC has entered into a mutual or multilateral agreement on information exchange, management, inspection, supervision of securities activities and securities market;
- The organization’s business has profit in 02 years prior to the year in which capital is contribute or shares/stakes are purchased, and the latest annual financial statement has been audited and received unqualified opinions.
What are conditions for a foreign organization to hold 100% charter capital of a securities company by contributing capital or buying shares/stakes in Vietnam? - image from internet
What are requirements of quantities of shareholders and contributing members of securities companies in Vietnam?
What are requirements of quantities of shareholders and contributing members of securities companies in Vietnam? Thank you!
Answer:
Pursuant to Clause 3 Article 74 of the Law on Securities in 2019 stipulating requirements of quantities of shareholders and contributing members of securities companies in Vietnam as follows:
- At least 02 founding shareholders and contributing members shall be organizations. The owner of the securities company that is a single-member limited liability company shall be an insurer or commercial bank or foreign organization that satisfies the requirements specified in Clause 2 Article 77 of this Law.
- Total capital contributed by organizations shall be at least 65% of charter capital; capital contributed by insurers and commercial banks shall be at least 30% of charter capital.
What are contents of the securities trading license of a securities company in Vietnam?
What are contents of the securities trading license of a securities company in Vietnam? Thx1
Answer:
Pursuant to Clause 1 Article 81 of the Law on Securities in 2019, the securities trading license of a securities company or fund management company shall have the following contents:
- The company’s name;
- Addresses of the headquarters;
- Business operations;
- Charter capital;
- The legal representative.
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