New Text Notification

Cases of modification of License of a representative of foreign credit institutions in Vietnam

Nguyễn Trinh

18:34, 04/12/2019

Circular No. 25/2019/TT-NHNN providing amendments to Circular No. 40/2011/TT-NHNN providing for the licensing and organization and operation of commercial banks, foreign bank branches, representative offices of foreign credit institutions and other foreign organizations performing banking activities in Vietnam was promulgated on January 17, 2019.

A representative office shall prepare an application for modification of its license in cases of:

- Change of its name;

- Relocation to another province or city;

- Extension of operation duration.

The representative office shall submit an application to the SBV’s branch in the province or city where it is located in case of change of name or extension of operation duration, or where it is relocated to in case of relocation of the representative office.

View other contents at Circular No. 25/2019/TT-NHNN of the State Bank of Vietnam, effective from January 17, 2020.

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