Vietnam: Documents required for the application for registration of offshore loan

According to Circular No. 37/2013/TT-NHNN of the State Bank of Vietnam, the application file for registration of offshore loan includes:

- An Application for registration of offshore loan (as per Appendix 01 enclosed herewith).

- Legal profiles of the Lender.

- A copy (with confirmation of the Lender) of the written approval of the Prime Minister to the offshore loan of the economic organization.

- A report on the plan for foreign currency arrangement of the economic organization for lending overseas.

- Legal profiles of the borrower, which include: A true certified copy of the original version and Vietnamese translation of the investment approval issued by the regulator of investment host country. Where there are no procedures of issuing approval for investment in the country of the borrower, the lender shall submit a true certified copy of the original version and Vietnamese translation of the written confirmation issued by the regulator of the host country confirming the business registration or other documents with the same validity (applicable to the case where the Borrower is an enterprise with capital contribution by Vietnamese enterprise in the form of direct investment).

- A copy and Vietnamese translation (with confirmation of the Lender) of the offshore loan agreement.

- A copy and Vietnamese translation (with confirmation of the Lender) of documents, guarantee agreements, security of the offshore loan (if any).

Note: The offshore loans of economic organizations, guarantees to non-residents of economic organizations, credit institutions, foreign bank branches, which have been performed before the effective date of this Circular, shall be allowed to keep observing the written confirmation for registration, registration for change (if any) issued by the State Bank. For the case where there is an agreement on amendment and reports arising after the effective date of this Circular, the economic organizations, credit institutions, foreign bank branches shall observe provisions of this Circular.

Thus, the registration of offshore loan must be conducted in accordance with the regulations of Circular No. 37/2013/TT-NHNN.

View more details at Circular No. 37/2013/TT-NHNN of the State Bank of Vietnam, effective from October 05, 2015.

- Thu Ba -

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