Director of a private investment company in Vietnam must have at least 05 years of experience

Director of a private investment company in Vietnam must have at least 05 years of experience (Internet image)

Article 25 of Circular 227/2012/TT-BTC stipulates the personnel of private investment companies that managed their own capital in Vietnam as follows:

1. The Director, Deputy Director, and operators of the investment company that manage its own capital must:

- Have worked for totally 05 years at the positions related to securities trading in finance, banking, insurance organizations, or in finance, accounting, or investment department in other enterprises;

- Have Licenses for asset management, or:

• Have obtained Licenses for security trading in member states of OECD; or have worked in asset management overseas; or

• Have obtained the Certificate of Chartered Financial Analyst level II (CFA), Certified International Investment Analyst – Final level (CIIA), Association of Chartered Certified Accountants (ACCA), Certified Public Accountants (CPA), Certificate in Quantitative Finance, or Quantitative Risk Management.

2. The individuals mentioned in Clause 1 of this Article may not simultaneously work for another organization, unless they are authorized representatives of the organizations that receive capital from the investment company.

3. An investment company that makes investments in real estate must have at least one employee that:

• Has the License for real estate valuation as prescribed by laws on real estate trading, and has worked for at least 02 years in real estate valuation for real estate trading organizations, real estate service providers, valuation organizations; or

• Has the valuer's license, or passed the tests on the following subjects in the examination in valuation: (i) pricing foundation; (ii) valuation method and principles; (iii) real estate valuation; and (iv) enterprise valuation.

More details can be found in Circular 227/2012/TT-BTC, which comes into force from July 1, 2013.

Le Vy

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