Vietnam: Clients identification information must contain Clients identification information and information on the beneficial owner

According to Article 9 of the Law on prevention of money laundering 2012 of Vietnam, the Clients identification information must have the following main information:

1. Clients identification Information:

- For individual Clients as a Vietnamese: the full name, date of birth, nationality, occupation, position; phone number, identity card number or passport number, date and place of issue and address of permanent residence and current residence.

- For individual Clients as a foreigner: the full name, date of birth, nationality, occupation, position; passport number, date and place of issue, visa, address of residence abroad and address of residence in Vietnam;

- For Clients as an organization: full and abbreviated trading name, addresses of head office, phone number, fax number; areas of operations and business; information on the founder and representative specified at point a of this clause.

2. Information on the beneficial owner:

- Reporting subject must identify the beneficial owner and apply the measures to identify and update the information on beneficial owner;

- For Clients as a legal entity or upon the provision of authorization agreement service, the reporting subjects must collect information on ownership and control structure to determine the individual with the control interest and to govern the operation of that legal entity or authorization agreement.

3. The purpose of the Clients in relation to the reporting subject.

View more details at the Law on prevention of money laundering 2012 of Vietnam, effective from January 01, 2013.

Ty Na

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