09 2004 TT NHNN PDF

Circular No//TT-NHNN Guiding the foreign borrowing and repayment by Please download the circular here: 09__TT-NHNN. Circular 25 replaces in part Circular 09//TT-NHNN dated December on foreign loans and Circular 25//TT-NHNN dated The new Circular will take effect from 15 April, and replace Circulars 09//TT- NHNN and 25//TT-NHNN, thereby consolidating the regulations on this.

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For foreign loans signed before this Circular takes effect and being in the process of nhn withdrawal, loan repayment, enterprises shall comply with the following: The licensed banks must comply with the following regulations when effecting capital withdrawals and foreign loan repayments for enterprises: Reporting on the situation of medium- long-term loans and loan repayment according to a set form.

Requirements on, and procedures for, foreign loan registration: Upon obtaining the SBV’s approval on the plan for the international bond issue pursuant to Circular 18, the issuing bank must follow the procedure for obtaining the 0 of the quota ft registration of the international bonds value in accordance with the SBV’s guidelines on foreign exchange control applicable to issuance of international bonds i. Prior consent from the SBV to borrowing foreign loans is a must Prior to entering into a foreign loan agreement or submitting a request for certification of the quota on issuing international bonds, a State commercial bank nnhnn directly lodge with the SBV Department of Foreign Exchange Control or send ft it by post, one set of a file requesting the SBV’s consent to borrowing the foreign loan or to the plan on issuing international bonds.

My saved default Read later Folders shared with you. The regulations on the reporting regime of borrowers, credit institutions, foreign bank branches and SBV branches of provinces and the cities directly under the central government.

Circular No.09/2004/TT-NHNN Guiding the foreign borrowing and repayment by enterprises

Circular 18 also stipulates guidelines on registration of foreign borrowings and reporting regimes. This Circular takes effect 15 days after its publication in the Official Gazette and replaces the following documents: In cases where enterprises do not withdraw capital but only make loan repayment through the licensed banks, within 5 working days as from the date of withdrawing the capital, the enterprises must notify in writing the licensed banks where the enterprises make the loan repayment of the capital withdrawal date and the withdrawn capital amounts under foreign loan contracts.

All amendments and supplements to this Circular shall be decided by the State Bank Governor. This Circular includes 6 chapters and 24 articles with main substances as follows: Periodically or when necessary, the State Bank and relevant agencies shall inspect the situation of foreign loans and loan repayment by enterprises.

Enterprises including licensed banks shall report thereon according to the provisions of this Circular. For any amendment made after this date, the relevant State commercial bank must be compliant with the provisions of Circular Registration of cross-border loans to Vietnam borrowers: Login Register Follow on Twitter Search.

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Foreign exchange control applicable to state commercial banks borrowing foreign loans

The regulations on the governing scope; implementers; overseas loans which are required to be registered with the SBV; maturities of loans in order to define the registering obligation; the borrowers who do the registration or registration of changes in overseas loans and overseas loan agreements with the SBV. The capital withdrawal and loan repayment transactions for foreign loans of enterprises may be effected via only one licensed bank, except for some following transactions where the licensed bank does not provide guarantee and services: Enterprises being other than credit institutions may sign medium-,long-term foreign loan contracts only when satisfying the following conditions: Prior to entering into a foreign loan agreement or submitting a request for certification of the quota on issuing international bonds, a State commercial bank must directly lodge with the SBV Department of Foreign Exchange Control or send to it by post, one set of a file requesting the SBV’s consent to borrowing the foreign loan or to the plan on issuing international bonds.

If there is an agreement to amend the foreign loan agreement which is not contrary to current law and which retains or reduces the loan quota, then the State commercial bank must sign an amendment agreement and register it pursuant to current regulations on management and repayment of foreign loans borrowed by enterprises i.

Effectiveness Circular 18 will take effect as from 15 October The State Bank shall give its written comments on the above drafts of the State enterprises within 15 working days as from the date of receiving complete dossiers.

Certification of change registration means that the State Bank issues documents certifying that enterprises have made registration of changes in a number of contents of the foreign loan contracts with registration already certified by the State Bank. Follow Please login to follow content. The SBV will accept the registration of a foreign loan for the State commercial bank within 5 working days from the date of receipt of a complete application file.

State-run credit institutions, joint-stock credit institutions, cooperative credit institutions. Any tf loan agreement signed by a State commercial bank but for which registration is not made prior to 15 October must be registered pursuant to guidelines of the SBV provided for each specific case. Legal tips for expats Health insurance for expats Where can foreigners get health check-ups in Vietnam?

Enterprises being credit institutions, apart from the conditions prescribed at Point 13 b and Point 14, Section I, Chapter II of this Circular, must comply with the current regulations of the State Bank on the borrowing limits, short-term foreign loan guarantee. Non-residents shall be understood 099 to the provisions of Vietnamese legislation on foreign exchange management. T being credit institutions may sign medium- long-term foreign loan contracts only when satisfying the following conditions: Foreign loan means a medium- or long-term foreign loan namely a loan with a term above one year borrowed by a State commercial bank from a th credit institution or foreign financial institution which is not a resident of Vietnam, or a foreign loan borrowed by a State commercial bank in the form of issuing international bonds on the international capital market.

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Circular 18 provides for the principles, sequence and procedures for assessing and implementing the borrowing of non-Government guaranteed foreign loans by State commercial banks. Enterprises signing foreign loan nhn bear self-responsibility for the legal capacities, financial capabilities, loan contract-performing capabilities of the foreign lending parties.

Foreign exchange control applicable to state commercial banks borrowing foreign loans – Lexology

Within 30 days after signing such loan agreement and before the drawdown date of a first loan, the State commercial bank must directly lodge at the SBV or send to it by post, one set of a file requesting registration of the foreign loan. Reporting on the implementation of short-term loans of tg, without making the capital withdrawal and loan repayment via licensed banks cases mentioned at Points 31 a31 b31 cSection V, Chapter III of this Circular.

Any foreign loan borrowed by Tt commercial banks for which registration including registration of amendments was made prior to 15 0 will continue to be implemented pursuant to the SBV’s registration certificate.

If the amendment is to increase the registered foreign loan value, then the State commercial bank needs to seek a new approval from the SBV on the proposed adjusted foreign loan value followed by registration of the amendment with the SBV.

In this Circular, the phrases below shall be understood as follows: In cases where enterprises withdraw capital, repay loan via a licensed bank but wish to shift to another licensed bank, they must settle all 204 withdrawal and loan repayment transactions at the former bank; if they are medium- or long-term loans, the enterprises must register with the State Bank the change of capital withdrawal, loan repayment service-providing banks.

If you would like to learn how Lexology can drive your tr marketing strategy forward, please email enquiries lexology. Competence to certify foreign loan and loan repayment registration or change registration: Registration of foreign loans and of changes in foreign loans After bhnn the SBV’s consent, the State commercial bank will sign the foreign loan agreement and other relevant documents.

Besides, for short- medium- or long-term loans, the enterprises shall have to produce other necessary documents and dossiers when so requested by the licensed banks.

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