Debt Trading Enterprises Must Have a Minimum Charter Capital of VND 100 Billion

15:40, 10/07/2024

This is a notable content stipulated in Decree 69/2016/ND-CP on conditions for the business of debt trading services.

In addition to having charter capital, a minimum investment capital of 100 billion VND, debt trading enterprises must also meet the following conditions:

- The provisions stipulated in Article 5 of Decree 69/2016/ND-CP.- The debts being traded must meet all the following elements:- No written agreement exists that prohibits the purchase or sale of the debt;- Not used as collateral for civil obligations at the time of debt trading;- The debt buyer and the debtor are not related persons under the Law on Enterprises.- Debt trading must be documented in a written contract based on the agreement among the involved parties.- Debt trading enterprises are not allowed to receive credit grants from credit institutions or branch banks to buy debts of borrowers at those same credit institutions or foreign bank branches...

Read the full provisions at Decree 69/2016/ND-CP effective from July 1, 2016.

- Thanh Lam -

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