04 cases of reorganization of credit information companies in Vietnam

Thuy Trong

11:36, 12/06/2021

On June 10, 2021, the Government of Vietnam issued Decree 58/2021/ND-CP stipulating the provision of credit information services.

The Decree stipulating 04 cases of reorganization of credit information companies in Vietnam as follows:

(1) Credit information companies shall reorganize according to Vietnam's Law on Enterprises and relevant laws.

(2) New credit information companies formed as a result of full division; credit information companies formed by separation and amalgamated credit information companies shall request SBV to issue certificate according to Article 11 of Decree 58

(3) Credit information companies alter legal format; separated credit information companies, acquiring credit information companies shall request SBV to revise certificate according to Article 13 of Decree 58.

(4) Divided, acquired, amalgamated credit information companies shall have their certificate revoked by the SBV according to Article 14 of Decree 58.

(In which, credit information company is an enterprise established and operating under the provisions of Vietnam's Law on Enterprise to provide credit information services and the company name must contain the phrase "credit information").

Decree 58/2021/ND-CP takes effect on August 15, 2021 and replaces Decree 10/2010/ND-CP and Decree 57/2016/ND-CP.

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