Legal Counselling

Vietnam: Collections made on investment capital account in foreign currency

14:52, 06/07/2016

On June 29, 2016, the State Bank of Vietnam issued Circular No. 12/2016/TT-NHNN guiding the foreign exchange management for outward investment.

According to Circular No. 12/2016/TT-NHNN of the State Bank of Vietnam (SBV), collections made on investment capital account in foreign currency include:

- Collect money transferred from other foreign currency accounts of the investor;

- Collect foreign currency purchased from licensed credit institutions in compliance with the law;

- Collect profits and legal incomes that are accrued from the outward investment activities and transferred to Vietnam;

- Transfer investment capital abroad to Vietnam in case of transfer of investment capital abroad, reduction of investment capital or termination of outward investment activities;

- Collect the principal and interest of loans provided by the investor to the legal entity that executes the investment project in foreign country in compliance with regulations and laws;

- Collect debts from the principal debtor in connection with loans provided to the legal entity that executes the investment project in foreign country with the investor’s guarantee in compliance with regulations and laws;

- Other collections related to outward investment activities.

View full text at Circular No. 12/2016/TT-NHNN of the State Bank of Vietnam, effective from August 13, 2016.

- Thanh Lam -

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