05 operations of organizations doing business in the relevant non-financial sector in Vietnam

According to the Law on prevention of money laundering 2012 of Vietnam, the organizations and individuals that are doing business in the relevant non-financial sector are the organizations and individuals carrying out one or a number of operations as follows:

- Doing business in games with prizes, casino;

- Doing business in the services of real estate management, the brokerage of real estate, real estate trading floor;

- Trading in precious metal and stone;

- Providing notary and accounting service, the lawyer’s legal service and lawyer practice organization;

- Investment trust services, services of establishment, management and executive of enterprise; services of director and secretary provision of the enterprise to a third party.

Besides, this Law also stipulates that a financial organization is an organization granted the license to carry out one or a number of the following operations: Receiving deposits; Making loan; Financial leasing; Payment service; Issuing the instruments of assignment, credit cards, debit cards, money orders, electronic money; Banking guarantee and financial undertaking; Providing foreign exchange services and monetary instruments on the money market; Consulting and guaranteeing the securities issuance and agency of securities distribution; Managing the investment capital portfolio; Managing cash or securities for other organizations and individuals; Providing insurance services and investment operation related to the life insurance; Money change.

View more details at the Law on prevention of money laundering 2012 of Vietnam, effective from January 01, 2013.

Ty Na

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