Can a bachelor of accounting be granted a practice certificate as an asset management officer in Vietnam?

Can a bachelor of accounting be granted a practice certificate as an asset management officer in Vietnam?

Pursuant to Article 12 of the Law on Bankruptcy in 2014 stipulating requirements for working as a asset management officer in Vietnam as follows:

1. The following individuals are eligible for being issued practice certificates of asset management officer:

a) A lawyer;

b) An auditor;

c) A person having a bachelor degree in law, economy, accountancy or bank and 05 years of experience or more in his/her field.

2. 2. Requirements for working as a asset management officer:

a) Be capable of civil acts;

b) Have ethical qualities, sense of responsibility, integrity and objectivity;

c) Have practice certificate of asset management officer.

3. The Government shall regulate the issuance of practice certificates of asset management officer and State management of asset management officers.

As regulations above, you have bachelor of accounting and 07 years of experience, so you are eligible for issuance of practice certificate as an asset management officer in Vietnam.

What documents are included in the application for the asset management officer’s practicing certificate in Vietnam?

Pursuant to Clause 1 Article 4 of the Decree 22/2015/NĐ-CP stipulating the application for the asset management officer’s practicing certificate in Vietnam as follows:

1. The persons, as stipulated in Clause 1 Article 12 of the Law on Bankruptcy, who wish to practice asset management and liquidation profession shall file their application for grant of the asset management officer's practicing certificate. The application shall consist of the following documentation:

a) An application form for grant of the asset management officer’s practicing certificate by filling the form No. TP-QTV-01 issued herewith;

b) A copy of the lawyer’s card, if the applicant is a lawyer; a copy of the auditor’s certificate, if the applicant is an auditor; a copy of the bachelor’s degree in law, economy, finance and banking, if the applicant has graduated from the degree program in these academic sectors;

c) Any document to show that the applicant has achieved at least 5 years' experience of their training fields which must be attested by the agency or organization where these bachelor’s degree holders are working;

d) 2 color photos, size 3cm x 4cm.

When necessary, the Ministry of Justice shall require the applicant to submit the criminal record.

As regulations above, you shall prepare these following documents for the application for the asset management officer’s practicing certificate in Vietnam:

- An application form for grant of the asset management officer’s practicing certificate

- A copy of the bachelor’s degree in accouting

- Any document to show that the applicant has achieved 7 years' experience

- 2 color photos, size 3cm x 4cm.

What are obligations of an asset management officer in Vietnam when practicing in Vietnam?

Pursuant to Article 7 of the Decree 22/2015/NĐ-CP stipulating obligations of an asset management officer in Vietnam when practicing in Vietnam as follows:

1. Comply with the principles of asset management and liquidation practice as prescribed in Article 2 hereof.

2. Bear responsibility for their practices in accordance with legal regulations on bankruptcy.

3. Sign the report and document on the outcome of the exercise of their powers and assumption of their obligations in accordance with legal regulations on bankruptcy.

4. Purchase the insurance against the professional responsibility in accordance with laws if the asset management officer is working as an individual.

5. Report to the Department of Justice located in a centrally-affiliated city or province where asset management officer’s practicing activities are registered under the instruction of the Ministry of Justice.

6. Fulfill other obligations in accordance with the Bankruptcy Law and relevant laws.

Above are obligations of an asset management officer in Vietnam when practicing in Vietnam.

Best regards!