IT ' S SMART

Regulation of open employment and use of foreign currency accounts to perform operation

Direct investment in the country. i

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Vietnam State Bank Law School No. 46 /2010/QH12 June 16, 2010;

The Private Investment Law. 59 /2005/QH11 November 29, 2005;

The Ordinal Command. 06 /2013/PL-UBTVQH13 March 18, 2013 amendment, adding some of the French Foreign Exchange Ordinal order. 28 /2005/PL-UBTVQH11 December 13, 2005;

Base of Protocol 78 /2006/NĐ-CP August 9, 2006 by the Government of the Government of the Government of the Government of the United States of the United States, on 9 August 2006

Base of Protocol 121 /2007/NĐ-CP July 25, 2007 of the Government rules on direct investment abroad in oil and gas operations;

Base of Protocol 17 /2009/NĐ-CP February 16, 2009 by the Government on the amendment, adding some of the provisions of the Protocol 121 /2007/NĐ-CP 25 July 2007 regulations on direct investment abroad in oil and gas operations;

Base of Protocol 156 /2013/NĐ-CP November 11, 2013 the Government regulates the functions, duties, powers, and organizational structure of the State Bank of Vietnam (later known as the State Bank);

On the recommendation of the Chief of Foreign Affairs Management;

The Governor of the Bank of the State of the State of the State of the State of the State of the State of the State of the State of the State of the State of the State of the State of the State of the State of the State of

Chapter I

GENERAL REGULATION

What? 1. The adjustment range

The information provides for the opening, use of accounts; registration, registration changes, and foreign currency transfers to carry out direct investment abroad of Vietnamese investors after being allowed to invest abroad and the transfer of foreign investors in the country. Foreign currency before being granted a certificate of investment by Vietnamese investors in the oil and gas sector by law.

What? 2. Subject applies

1. Vietnamese investors (later known as "investors") include the organization (including credit organization) and individuals being made investing directly abroad under the rule of law.

2. The organizations, individuals with regard to the direct investment activity of investors.

What? 3. Explain words

In this Information, the words below are understood as follows:

1. The credit organization is allowed to be credit organizations, the foreign bank branch being operated foreign exchange and the provision of foreign exchange services under the rule of law.

2. The account capital invested directly abroad with foreign currency (later known as direct investment account) is an open-currency payment account of the open investor at a credit organization permitted in Vietnam to carry out transactions related to the company ' s foreign currency. It ' s a direct investment project abroad.

3. Subscription of capital investment account directly and advance of capital investment abroad is the implementation of a registered investment with the State Bank or State Bank of the provincial branch, the city on the direct capital account opened at the credit organization. is allowed to implement a foreign investment project and advance the capital to foreign investment (later known as account registration and capital transfer progress).

4. Subscription changes direct capital account, advance of capital to foreign investment is the investment of investment after having registered an account and a transfer of capital to the State Bank or the Bank of the State Bank branch, the city, which has a replacement. In exchange compared to the contents of the State Bank ' s text that confirmed the registration of the account and the transfer of capital, must the registration procedure be changed with the State Bank or State Bank of the provincial branch state, the city by regulation at this Smart (later called) is the registration of the account change, the capital movement.

5. Confirification of the account registration and transfer of capital is the State Bank or State Bank branch of the provincial branch, the city whose text confirms the investor has made its account registration and the transfer of capital by regulation at this Smart.

6. Confirification of registration of account changes, the move forward is whether the State Bank or the State Bank branch of the provincial branch, the city has a written confirmation of the investor who made the registration of the account change, the prescribed capital progress at the Investment. Hey.

Chapter II

OPEN AND USE DIRECT INVESTMENT ACCOUNT

What? 4. Open direct investment account

1. After being granted a foreign investment certificate, the investor must open 1 (a) account capital account directly at a credit organization permitted and executed registration with the State Bank or State Bank of the provincial branch of the provincial branch, the city according to its provisions. I mean, here's the Fourth Chapter.

2. All currency transfer transactions from Vietnam abroad and from foreign countries into Vietnam in relation to the direct investment project abroad must be made through this account.

3. The investor has many overseas investment projects that must open a separate direct investment account for each project.

4. The case of foreign investment projects featuring many investors, each investor must open separate direct investment accounts separately at the same 1 credit organization permitted to transfer foreign currency within the capital value range according to the Stock Investment Certificate in the United States. It ' s overseas due to the authority of the Republic of Vietnam.

5. When there is a need to open an account at another allowed credit organization, the investor makes the following steps:

a) The investor opens a direct investment capital account at the new authorized credit organization and the implementation of a change of capital account changes directly to the State Bank or State Bank of the State Branch of the Province, the city by regulation at Chapter III. Hey. State Bank or State Bank of the provincial branch, the city is responsible for sending registered documents that change the investment capital account directly of the investor to the authorized credit organization where the investor is using the account.

b) During the 5-day period of work since the State Bank Day or State Bank branch of the provincial branch, the city confirmed the registration of a direct investment capital account, the investor must implement the closure and transfer the entire balance of the capital account. Direct use to account at the new authorized credit organization. The credit organization is allowed where the investor is using a direct investment account that is directly responsible for an account of an investor and does not allow the investor to use this account to carry out the procurement transactions specified in this Article 5. after the deadline.

c) The direct capital investment account at the new credit organization is used only to make the regulatory transactions specified in this Article 5 Notice after the completion of the procedures stated at the point a, b This paragraph.

What? 5. Procurement transactions on the capital capital account directly.

Direct investment account is used to carry out the collection transactions, the following genus:

1.

a) Thu from the investor ' s foreign currency account;

b) The collection of foreign currency purchased from the credit organization is allowed to conform to the rule of the existing law;

c) Thu from a loan foreign currency (including domestic and foreign loans) is consistent with the regulation of the existing law;

d) From a profit to move water from direct investment abroad;

The foreign currency capital capital has invested in Vietnam in reducing capital, liquing or ending investment in foreign countries;

e) The original debt and interest of shareholder loans to the foreign investment project in accordance with the provisions of the existing law;

g) Other income transactions involve direct investment activity abroad.

2. Cost transactions:

a) the capital of the capital abroad;

b) The shareholder loan for the investment project abroad is consistent with the regulation of the existing law;

c) The currency shifted into the investor ' s foreign currency account;

d) Other transactions related to direct investment activity abroad.

Chapter III

REGISTER, REGISTER TO CHANGE INVESTMENT CAPITAL ACCOUNT

IN PERSON, PROGRESS HAS BEEN INVESTED ABROAD.

What? 6. Authority handling registration, registration change registration, capital transfer progress, and registration.

1. State Bank (Foreign Exchange Management) which makes the registration of registration, registration changes, and the transfer of capital to the investor is a credit organization.

2. The State Bank branch of the provincial branch, the city where the investor is to have its headquarters or where an investor is a permanent registered individual who does confirmation of registration, registration changes, the transfer of capital to other investors is not the case. It's a credit organization.

What? 7. Presentation of the account registration procedure and capital transfer progress

1. After opening the capital account directly and before making foreign currency transfers abroad, the investor sends directly or sent via post-mail to the State Bank (Foreign Exchange Management) or State Bank of the State Branch of the Province, the city where it is located. The investor is the organization with its headquarters, where the investor is a registered registered individual (01) of the account registration filing and the transfer of capital abroad by regulation at this Article 8.

2. State Bank or State Bank branch of the provincial branch, the city considers the filing, the case needs more information to be eligible to confirm or deny confirmation of the account registration and progress of capital transfer, State Bank or State Bank Branch State Bank. In the province, the city has a written request for an investor to replenel the document, the information needed in the time of the year (05) the day of work since the investor's adoption date.

3. During the ten (10) days of work since the full and valid filing date, the State Bank or the State Bank of the State Branch State, the city has a responsibility to confirm or refuse to confirm account registration and capital transfer progress to serve as a basis. The investment fund invested abroad through a direct investment account opened at the permitted credit organization.

4. The case refused to confirm the account registration and advance of the capital ' s capital, the State Bank or State Bank branch of the provincial branch, the city has a notification text and stated the reason.

What? 8. Account registration records and capital transfer progress

Account registration records and capital transfer progress including:

1. The application of the account capital account directly and advances the investment capital to foreign countries (according to the Appendix 01);

2. The legal filings of the investor include: The copy is corroborated from the established License itself or the Business Registration Certificate or a Business Registration Certificate or Investment Certificate (for an investor is the organization); the Certificate of Reasoning. People or passports (for investors are individuals);

3. The copy is corroborated from the official Certificate of Foreign Investment Certificate issued by the competent authorities of Vietnam;

4. Foreign copies of the foreign language, the Vietnamese translation (which has a confirmation of the investor in terms of the accuracy of the copy and translation) the investment acceptance text issued by the competent agency of the country receiving investment or other papers expressing the investment project has been made. The authority of the country to accept the investment of the approved investment in accordance with the rule of the law of water to receive investment;

5. The official text of the project's investment capital progress or expected to advance the investment capital of the project led by the investor;

6. The confirmed text of the credit organization is allowed on the opening of the investment capital account directly outside of the investor.

What? 9. Register for account change, capital transfer progress

1. The case of change where opening of capital account directly against the content has been registered by the State Bank, after opening the account at the new authorized credit organization and before making the currency move out, entering this new account, the state ' s home. The investment in charge of registration changes with the State Bank or State Bank branch of the provincial branch, the city to make the investment base abroad.

2. The case of change in relation to the scale of capital investment, the advance of capital to foreign investment than the content has been registered by the State Bank, before the implementation of the change content, the investor is responsible for registering changes with the Bank. State or State Bank Branch of the Province, the city to make the capital transfer capital abroad.

What? 10. Presentation of the registration procedure changes account, advance of capital transfer

1. The case of the birth change in account, the transfer process stipulated at Article 9 of this Smart, the investor sent directly or through the postal route to the State Bank or State Bank of the State Branch State, city one (01) the registered registration filing. In exchange of accounts, the advance of capital to foreign investment is regulated at this Article 11.

2. State Bank or State Bank branch of the provincial branch, the city considers the filing, the case needs more information to have sufficient validation grounds or refuse to confirm the registration of account changes, capital transfers, State Bank or State Bank of the State Bank. The provincial branch, the city has a written request for the investor to add the document, the information needed in the time of the year (05) the day of work since the investor's filing date.

3. During the ten (10) days of work since the date of adoption of the full and valid change records, the State Bank or State Bank branch of the provincial branch, the city is responsible for confirming or rejecting the registration of the account change, the transfer progress. capital.

4. The case of refusing to confirm the registration of the account change, the transfer of capital of the investor, the State Bank or the State Bank of the State Branch, the city has a written statement of the reason.

What? 11. Sign up for account change, capital transfer progress

1. The registration profile for the case of a direct investment capital account change includes:

a) The application changes the account capital account directly, the advance of the investment capital to the foreign country (in accordance with the Appendix 02);

b) The investor ' s version of the equation on the reason the content needs to change where to open the investment capital account directly;

c) The confirmed accuracy of the credit organization is allowed where the investor is opening a direct investment account in terms of this account balance; the amount has moved abroad to the time of the change.

2. The registration profile for the case of change of investment transfer investment abroad includes the following:

a) The application changes the account capital account directly, the advance of the investment capital to the foreign country (in accordance with the Appendix 02);

b) The investor ' s version of the program is about the reason that the content needs to change, with agreements, commitments, or other documents that are relevant about changing the investment capital progression (if any);

c) This is expected to advance to the new investment capital of the project created by the investor;

d) A copy of the copy certificate from the Certificate of Foreign Investment Certificate has been adjusted due to the competent agency of Vietnam (in the case of an investment project adjusted to scale capital investment, investment deadline, investment and investment parties). Capital, capital form.

The official confirmation of the credit organization is allowed where the investor is opening a direct investment account on the amount of money that has moved abroad to the time of the change.

e) A copy of the evidence from the evidence itself from the proof of the implementation of capital transfers by other capital values according to the registered progress with the State Bank;

3. The registration records for the case of a change of capital account directly and the transfer of capital investment abroad include: the profile components stated at Point 1 Point 1 and Section 2 Article 11 of this.

Chapter IV

FOREIGN CURRENCY SHIFTED ABROAD BEFORE BEING GRANTED A INVESTMENT CERTIFICATE FOR THE INVESTMENT PROJECT.

IN THE OIL FIELD

What? 12. The principle of transferring foreign currency to foreign currency before issuing investment certificates

1. The investor makes direct investment abroad in the oil and gas sector with a need for foreign currency to foreign exchange before being granted an investment certificate to study, prepare oil and gas projects according to the existing law regulations on direct investment in the country. The foreign currency must register foreign currency transfers with the State Bank (Foreign Office) and is confirmed by the State Bank to register a written registration prior to the foreign currency's foreign currency.

2. The transfer of foreign currency by the specified investor in Clause 1 This must be done through 01 open foreign currency accounts at 1 credit organizations permitted.

3. After the project is granted a Certificate in Foreign Investment, a regulatory foreign account stipulated at Clause 2 This is used as a direct investment account and must register with the Provincial State Bank of the provincial branch, the city by regulation at Chapter III. This is private.

4. The self-responsible investor to use the foreign currency to move abroad before being granted a Certificate of Investment in accordance with the purpose of registering with the State Bank, taking seriously the provisions of the existing law on direct investment out of the country. Foreign oil, regulation of foreign exchange management and other regulated laws.

What? 13. The sequence performs the foreign currency transfer registry before being granted an investment certificate in the field of oil and gas oil.

1. The investor of the specified object at Article 12 This information sends directly or sent through the postal route to the State Bank (State Bank of Foreign Affairs) 01 (a) the foreign currency transfer registration case in accordance with the regulation at Article 14 of this Information.

2. State Bank considers the case, the case needs more information to be sufficient to confirm or refuse to confirm the foreign currency transfer registration of the investor making direct investment abroad in the oil and gas sector, the State Bank has a culture of its own. The request for an investor to add the document, the information needed in the time of the year (05) day of work since the investor's filing date.

3. In the 10-day period of work since the date of receiving enough valid records, the State Bank is responsible for confirming the registration of foreign currency shifting abroad to serve as the basis for the investor to make direct investment abroad in the field of transport oil. I mean, foreign currency before being granted investment certificates.

4. The case refused to confirm the foreign currency's registration of foreign currency making direct investment abroad in the oil and gas sector, the State Bank has a written notice and stating the reasons.

What? 14. The filing of foreign currency transfers abroad before being granted a certificate of investment in the oil and gas sector

Foreign currency transfer records abroad before being granted an investment certificate in the oil and gas sector include:

1. The application of foreign currency transfers abroad before being issued a Certificate of Investment (according to the template at Annex 03);

2. The copy is corroborated from the established decision itself, or the Business Registration Certificate, or the paper with the equivalent legal value of the investor;

3. The investor ' s version of the investor in terms of foreign exchange needs before being issued with a Certificate of Investment with documents that demonstrate the activities that form the oil and gas project abroad as defined by the existing law on direct investment abroad. in the oil and gas operation;

4. The decision itself of the competent representative of the investor in terms of the amount of foreign currency costs the activities of the offshore oil and gas project, the expected transfer of foreign currency.

Chapter V.

TRANSFER OF PROFITS, LEGAL INCOME AND DIRECT INVESTMENT IN FOREIGN COUNTRIES OF VIETNAM.

What? 15. Transfer of profit, return capital to Vietnam

1. The investor is responsible for transferring profits; moving capital investment in the country after liquation, dissolution, reduction of capital size, transfer of the investment project under the current regulatory regulation of the investment law.

2. Profit, investment capital and investments in water in the case of liquation, dissolution, capital reduction, investment project transfer must be transferred into the direct investment capital account of the investor in accordance with this Information.

What? 16. Using a profit to reinvest the project abroad

1. The case wants to use profits obtained from a foreign investment project to reinvest directly in the investment project itself, the investor must do the procedure to regulate the Certificate of Investing Certificate abroad at the competent Vietnam-based authority. of the existing law and the implementation of the report of the State Bank by regulation at this Chapter VII.

2. The case wants to use the proceeds from the foreign investment project to reinvest in another project abroad, the investor must make the Certificate of Foreign Investment Certification for the new investment project at the Vietnam-based authority under the United States. regulation of the existing law and must register the account and progress of capital transfers with the State Bank as prescribed at this Chapter II.

Chapter VI

THE RESPONSIBILITY OF THE STAKEHOLDERS

What? 17. investor responsibility

1. Compliance the regulations on direct investment abroad, make the transfer of capital out, into Vietnam territory and the content associated with direct investment abroad according to the regulations at this Smart.

2. Direct capital account is directly used only after the text of the registration of the registration, registration of account changes, and the transfer of capital by regulation at Chapter III This is unless the case changes where the direct capital account opens directly under the specified rules. at the Article 5 Article 4 of this message.

3. When carrying out receivable transactions, foreign currency through direct capital account, the investor is responsible for listing the details of the revenues, the foreign currency under the guidance of the authorized credit organization.

4. The investor is responsible for the use of money on the right capital account directly with the purposes of informing the credit organization and has registered with the State Bank of Vietnam.

5. Export-related documentation of the credit organization is allowed to make foreign exchange transactions, Vietnam through direct investment account.

6. comply with the statutory reporting regime at Chapter VII of this and other provisions of the relevant law.

What? 18. The responsibility of the credit organization is allowed

1. Practice closed, open the capital account directly at the recommendation of the investor in accordance with the regulation at this Smart.

2. Only make the transfer of capital investment abroad at the request of the investor when the publisher of the publisher confirmed the registration, registration of account changes and the transfer progress of the State Bank or State Bank of the State Branch of the Province, the city. The street level is provided by the prescribed investor in Chapter III and other testimonies are related by law.

3. Only make foreign currency transfers abroad before issuing an investment certificate for investment project in the field of oil-based investment investment oil, which confirms the registration of foreign currency transfers by regulation at Chapter III This Smart and Contracting States. The other evidence is related to the law.

4. Review, check, store documents and certificates in accordance with practical transactions to ensure the provision of foreign exchange services for the investor to be performed properly and in accordance with the rule of law.

5. The investor Guide performs a detailed listing of the sources, the foreign currency on the capital investment account directly under the provisions of this Chapter II.

6. Track, record, statistics detailed metrics of transactions, spend on the direct investment account of each investor to carry out the report of the State Bank by regulation at Chapter VII of this.

7. Guidelines for investors to implement the right current regulations on foreign exchange management for direct investment abroad, promptly reporting the State Bank in case of a sign of a sign of violation of the existing regulations of the law that is linked to the issue. Yeah.

8. The case of a credit organization is allowed to invest in foreign investments directly invested directly at the credit organization itself, the credit organization is allowed to take responsibility for the correct implementation of the investment capital of the capital abroad.

What? 19. The responsibility of the State Bank branch of the provincial branch, the city

1. Guidelines for investors to implement the existing regulations on foreign exchange management for direct investment abroad; the investment of investors on the site strictly approx the regulatory regime under the provisions of this Chapter VII.

2. Take, take the registration, register for a change of direct capital account directly, advance the investment capital to the foreign capital under the jurisdiction prescribed at this Smart III. Implementing the validation of the registration, registration changes in direct capital account directly, the transfer of capital to foreign capital according to the template at Appendix 4, 5 of this Information.

3. Make sure to send registered validation texts, register changes in capital account directly, the transfer of capital of the investor objects is not a credit organization for the State Bank (Foreign Exchange Management) recurring monthly term on the 5th of the next month of the month of the report.

4. Watch, statistics, the situation aggregation of the situation which makes direct investment of the investor on the site to meet the implementation of the State Bank report by regulation at Chapter VII of this Information.

5. Regular monitoring, examination of the release of existing law regulations on the investment management of the investor on the site.

What? 20. The responsibility of the Foreign Exchange Management

1. Host, in collaboration with the relevant units of the State Bank that handles common problems related to investing directly abroad within this scope.

2. Continue, handle registration, registration changes in direct capital account, advance of capital to foreign investment, registration of foreign currency to foreign currency before being granted a foreign investment certificate to an investor in accordance with the authority. regulation at Chapter III and IV of this.

3. Make sure to send out foreign currency registration confirmation documents before being granted an investment certificate in the oil and gas sector for the Ministry of Planning and Investment (Bureau of Foreign Investment), Ministry of Commerce, State Bank branch of the provincial branch, city. where the investor has its headquarters to co-ordinate the tracking and management of the offshore investment of the oil and gas sector.

4. How do you send a registered confirmation text, register for a change of direct capital account, advance of capital to the Provincial State Bank of the province, the city where the investor is a credit organization with the headquarters right after the confirmation of the confirmation? register, register for a change of direct capital account directly, the transfer of capital to the investor is the credit organization.

5. Total reporting by the credit organization system and the provincial branch state bank, the city according to the current statistical reporting regime of the State Bank.

Chapter VII.

REPORT MODE AND TEST WORK, BREACH PROCESSING

What? 21. The report regime for credit organization is allowed.

The credit organization is allowed where the investor opens a direct investment account that must report a collection situation on the investor's direct investment account according to the State Bank ' s current regulatory regulation of the statistical reporting regime applicable to the investors. Unit of State Bank and credit organizations, foreign bank branches.

What? 22. Report Mode to investor

1. The quarterly valuation (the slog on the fifth of the first month of the next quarter immediately following the report), the investor must report the situation that made capital capital to foreign investment (as a form at Annex 06 attached to this Notice) to each project has been reported by the agency. The authority granted the Certificate of Investment to the State of the Provincial State Bank, the city where the investor is to have its headquarters, where the investor is a permanent registered individual.

2. The case of transferring foreign currency to foreign currency before being granted an investment certificate, investor in the oil and gas sector must have a text report of foreign currency shifting foreign currency to the State Bank (Foreign Exchange Management) with evidence from the transaction. of the credit organization is allowed within 15 working days since the completion of the foreign currency transfer transaction before being granted an investment certificate.

What? 23. Report mode for the State Bank of the provincial branch, city

The provincial state bank of the provincial branch, the city must report on the situation of confirming the registration of the account and the transfer of capital, the situation carrying out the investment of direct investment of the investor on the site by the current Bank of Housing regulations. The statistical reporting regime applies to units of State Bank and credit organizations, foreign bank branches.

What? 24. Breakthrough Report Request

Cases of breakthroughs or when necessary, investor, credit organization are allowed and the State Bank of the State Branch of the Province, the city makes a report at the request of the State Bank of Vietnam.

What? 25. Check out the breach.

1. When necessary, the State Bank, the State Bank of the provincial branch, the city and its relevant agencies conduct an implementation of the law enforcement situation on direct investment of the investor and the credit organization is allowed to do so. according to the regulations on this message. The investor, the authorized credit organization is responsible for providing all documents, the documentation necessary for the inspection to be done in time, effectively.

Chapter VIII

EXECUTION CLAUSE

What? 26.

1. This message was in effect from 14 February 2014.

2. The following documents, the following expiration of the execution effect from this date of this date are valid:

-Private. 01 /2001/TT-NHNN January 19, 2001 of the State Bank guidelines on foreign exchange management for the foreign investment of the Vietnamese business;

-Private. 04 /2005/TT-NHNN August 26, 2005 of the State Bank amended, adds 6 Section III of Digital Information. 01 /2001/TT-NHNN 19 January 2001 guidelines on foreign exchange management for Vietnam's foreign investment.

-Article 11. 25 /2011/TT-NHNN August 31, 2011 on the implementation of the simplification of the simplification of the foreign exchange of foreign activity in accordance with the Government's Resolve Resolve for simplification of the administrative capacity of the Bank of Vietnam.

What? 27.

Chief of the Office, the Chief of Foreign Affairs Management, the Head of State Bank related units, Director of the State Bank of the State Branch of the Provinces, the Central City of Central, Chairman of the Board, Chairman of the Board of Directors, President. The Director (Director) of the credit organizations is authorized to hold this private practice.