Vietnam: Transactions that are subject to registration of security interests upon request

Duy Thịnh

13:58, 03/07/2018

Recently, the Ministry of Justice of Vietnam provided the latest guidelines for registration of information about security interests and contracts in Circular No. 08/2018/TT-BTP.

According to Circular No. 08/2018/TT-BTP of the Ministry of Justice of Vietnam, the security interests are registered upon request at Registration Centers in the following cases:

- Mortgage of movable property (except for aircraft and ships), including off-the-plan movable property;

- Retention of title in the case of purchase of movable property, except for aircraft and ships whose title is retained;

- Change or correction of errors and deregistration of registered security interests mentioned in Points a and b Clause 1 Article 5 of Circular No. 08/2018/TT-BTP;

- Notice of intention to dispose of collateral with respect to the registered security interest.

Moreover, the subjects involved in the aforementioned transactions must also fall into one of the categories specified in Article 6 of Circular No. 08/2018/TT-BTP in order to register security interests as required at the Registration Center.

Details of information declaration and registration of information about security interests can be found in Circular No. 08/2018/TT-BTP of the Ministry of Justice of Vietnam, which takes effect from August 04, 2018.

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