10 conditions for grant of business eligibility certificates for credit rating services in Vietnam

Specifically, according to Article 14 of the Decree No. 88/2014/NĐ-CP of Vietnam’s Government, 10 conditions for grant of business eligibility certificates are specified as follows:

1. Having an enterprise registration certificate granted by a competent agency in accordance with the enterprise law and meeting the requirement on the type of enterprise prescribed in this Decree.

2. Having a paid-up charter capital at least equal to the legal capital level, which is VND fifteen (15) billion.

3. Having shareholders or capital-contributing members that have contributed over 5% of the paid-up charter capital of a credit rating agency.

4. Having a general director or director who meets the criteria and conditions as prescribed by law.

5. Having at least five (5) employees who meet the criteria and conditions for members of credit rating councils.

6. Having at least ten (10) employees who meet the criteria and conditions for analysts.

7. Having professional processes satisfying regulation and written commitments to performing these processes after obtaining business eligibility certificates.

8. Having tentative business plans covering the following: Business plan; Expected turnover and operation expenses; Personnel plan; Expected data sources to be used. 

9. Having a website.

10. Being in line with the masterplan on development of credit rating services prescribed in Article 8 of this Decree.

View more details at the Decree No. 88/2014/NĐ-CP of Vietnam’s Government, effective from November 15, 2014.

Ty Na

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