This is a notable content of the Law on Securities 2019, issued by the National Assembly of Vietnam on November 26, 2019.
According to the Law on Securities 2019 of Vietnam, a foreign fund management company may establish a branch in Vietnam when the following requirements are satisfied:
- It is licensed for management of public funds by the home country’s securities authority;
- The home country’s licensing authority and State Securities Commission (SSC) has entered into a mutual or multilateral agreement on information exchange, management, inspection, supervision of securities activities and securities market with a remaining operating of at least 05 years;
- The foreign company is not holding more than 5% charter capital of 01 fund management company in Vietnam, whether directly or indirectly, with or without related persons;
- The capital provided for the branch in Vietnam satisfies the requirements in Clause 1 Article 75 of this Law;
- The infrastructural and personnel requirements specified in Clause 4 and Clause 5 Article 75 are satisfied by the branch in Vietnam;
- All of the requirements specified in Point c Clause 2 Article 77 of this Law are satisfied.
Note: Each foreign securities company or fund management company may establish 01 branch in Vietnam.
View more details at the Law on Securities 2019 of Vietnam, effective from January 01, 2021.
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