Vietnam: Power to certify registration and registration of changes in forex transactions

According to Circular No. 31/2018/TT-NHNN of the State Bank of Vietnam (SBV), the power to certify registration and registration of changes in forex transactions is prescribed as follows:

- The SBV’s branch in a province or city shall be responsible for making certification of registration or registration of changes in the outward investment-related forex transactions in petroleum industry for institutional investors whose head offices are located in that province or city, or individual investors having registered permanent residence at that province or city.

- In case the changes relating the investor executing the project result in the change of the SBV’s branch competent to certify the registration of changes in outward investment-related forex transactions in petroleum, the initial SBV’s branch that makes certification of registration or registration of changes in outward investment-related forex transactions shall:

+ receive the application for registration of changes in the outward investment-related forex transactions in petroleum submitted by the investor;

+ within 03 (three) business days from the receipt of the application, transfer all original application documents and copies thereof (if any) to the competent SBV's branch in province or city as prescribed in Clause 1 of this Article for handling; and inform the investor of such application transfer.

View more details at Circular No. 31/2018/TT-NHNN of the State Bank of Vietnam, effective from February 01, 2019.

-Thao Uyen-

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