Vietnam: Which information about enterprises shall the Departments of Planning and Investment collect to prevent money laundering?

Specifically, according to Clause 6 Article 1 of Decree No. 87/2019/ND-CP of Vietnam’s Government amending Decree No. 116/2013/ND-CP, to ensure transparency of juridical persons and authorization agreements, the business registration agencies, as prescribed in Clause 2 Article 18 of the Anti-Money Laundering Law, being the provincial Departments of Planning and Investment, shall collect and store the following information about enterprises established and operating in their provinces and cities:

- Basic information about an enterprise: Full trading name and abbreviated name, address of head office, tax code number, telephone number, facsimile number, fields of business operation;

- Charter capital (charter capital and registered capital are abolished);

- List of founding shareholders and list of authorized representatives for foreign shareholders being organizations (if any) (list of major shareholders is abolished);

Concurrently, Decree No. 116/2013/ND-CP stipulates that the Stock Exchange, as prescribed in Clause 1 Article 18 of the Anti-Money Laundering Law shall store and update the following information about the listing enterprises:

- Basic information about a listing enterprise: Full trading name and abbreviated name, address of head office, tax code number, telephone number, facsimile number, fields of business operation;

- Charter capital;

- List of founders, major shareholders;

- The legal representative;

- The beneficial owner;

- Other information.

Organizations and individuals as prescribed in Clause 3 Article 18 of the Anti-Money Laundering Law must store and update the following information about clients:

- Information about the authorizing person, the authorized person: It must include information specified in Clauses 1, 2, 3 Article 4 of this Decree;

- Content of authorization;

- Information about the beneficial owner as prescribed in Clause 2 Article 5 of this Decree.

View full text at Decree No. 87/2019/ND-CP of Vietnam’s Government, effective from November 14, 2019, which replaces Decree No. 116/2013/ND-CP.

Thu Ba

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