Amending Ordinance on Foreign Exchange Control 2013: Regulations on offshore investment from Vietnam

Specifically, according to Clauses 6, 7, 8, 9 Article 1 of the Amending Ordinance on Foreign Exchange Control 2013 amending and supplementing Articles 13, 14, 15 and supplementing Article 15a at behind of Article 15 of the Ordinance on Foreign Exchange Control 2005 of Vietnam, regulations on offshore investment from Vietnam are as follows:

1. Capital sources for offshore direct investment

Residents who are entitled to conduct offshore direct investment shall be permitted to use the following foreign exchange capital sources for their investment:

- Foreign currency on accounts at authorized credit institutions;

- Foreign currency bought at authorized credit institutions;

- Foreign exchange from other lawful capital sources in accordance with law.

2. Remittance of direct investment capital abroad

Residents permitted to conduct offshore direct investment must open a foreign currency account at an authorized credit institution and register remittance of foreign currency abroad for investment through such account in accordance with regulations of the State Bank of Vietnam.

3. Remittance of capital and profit from the offshore direct investment activities back into Vietnam

Capital, profit and lawfull revenue from offshore direct investment in accordance with the law on investment and other relevant laws must be remitted back into Vietnam via a foreign currency account opened at an authorized credit institution.

4. Offshore indirect investment 

Credit institutions are entitled to conduct offshore indirect investment in accordance with the law on investment and regulations of the State Bank of Vietnam.

Residents not being credit institutions permitted to conduct offshore indirect investment specified above conduct the opening and use of account, remittance of investment capital abroad, remittance of capital, profit and other lawful revenue from activities of offshore indirect investment back into Vietnam in accordance with regulations of the State Bank of Vietnam.

View relevant contents at the Amending Ordinance on Foreign Exchange Control 2013 of Vietnam takes effect from January 01, 2014.

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