Principles for Preparing Dossiers for Approval of Capital Contribution, Share Purchase of Credit Institutions in Vietnam

Principles for Preparing Dossiers for Approval of Capital Contribution, Share Purchase of Credit Institutions in Vietnam

The principles for preparing dossiers for approval of capital contribution, share purchase of credit institutions in Vietnam include:

- The dossier must be prepared in Vietnamese. In case the documents are issued, notarized or certified by a foreign competent authority or organization, they must be consularly legalized according to the provisions of Vietnamese law (unless exempted from consular legalization according to the provisions of law on consular legalization) and translated into Vietnamese.

- Translations from foreign languages into Vietnamese must be notarized or the translator's signature authenticated as required by law.

- The submitted documents must be originals or copies issued from the original register or certified copies or copies accompanied by the originals for comparison; in case the credit institution submits copies accompanied by the originals for comparison, the person who does the comparison must sign and be responsible for the accuracy of the copies compared to the originals.

- The document of the credit institution requesting the State Bank of Vietnam (hereinafter referred to as the State Bank) for approval must be signed by the legal representative or the authorized representative (hereinafter referred to as the legal representative). In case of signing by authorization, the dossier must include a written authorization in accordance with the provisions of law.

Authority to Approve Capital Contribution, Share Purchase of Credit Institutions in Vietnam 

- The Governor of the State Bank considers and approves the capital contribution, share purchase in other enterprises operating in the fields specified at point b Clause 1 Article 1 of this Circular and the debt-to-equity conversion specified at point d Clause 1 Article 1 of Circular 25/2024/TT-NHNN.

- The Chief Inspector and Supervisor of banks considers and approves the capital contribution, share purchase to establish, acquire subsidiaries, associated companies as specified at point a, c Clause 1 Article 1 of Circular 25/2024/TT-NHNN.

See detailed content at Circular 25/2024/TT-NHNN, effective from July 01, 2024.

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