The State Bank of the Socialist Republic of Vietnam TƯHướng lead through the implementation of Decree No. 13/1999/ND-CP dated 16/3/1999 of the Government "about the Organization of the activities of foreign credit organizations, representative offices of foreign credit institutions in Vietnam" pursuant to article 41 of Decree 13/1999/ND-CP dated 17/03/1999 of the Government "about the Organization , activities of foreign credit organizations, representative offices of foreign credit institutions in Vietnam "(hereinafter the regulations), the State Bank of Vietnam passed as follows: i. object and scope 1. The object of adjustment circular adjustable object of this circular includes: venture banking (including Vietnam and foreign parties party);
Foreign bank branch;
Representative offices of foreign credit institutions.
2. This circular does not apply to the non-bank credit institutions and credit institutions in Africa 100% foreign-owned banks.
II. Provisions on the establishment and operation of the joint venture Bank, foreign bank branch 1. Conditions to be granted a license to establish and operate 1.1 the conditions to Vietnam and foreign Parties Parties are granted a license to establish and operate joint venture banks in Vietnam: a Vietnam and foreign Parties) Please establish joint venture Bank to be the healthy operation of banks reputable, local;
b) there is active demand local bank please active;
c) venture banks have enough capital in accordance with the law of Vietnam when it was granted a license to establish a joint venture Bank;
d) have viable business venture activities when in Vietnam;
DD) Have Executive Administrator has the capacity for civil acts and full professional level consistent with the Bank's operation venture;
e) chartered organization and operations consistent with the provisions of the law of Vietnam;
g) has the text of the authorized bodies of foreign countries allow Bank established a joint venture operations in Vietnam.
1.2 the conditions to foreign banks licensed offshore bank to open a branch in Vietnam: a. Is a reputable bank;
b. needs of local banking activities please active;
c. the branch has enough capital in accordance with the law of Vietnam when it was granted a license to open a branch;
d. has a viable business plan in Vietnam;
Sync Have executives had the capacity for civil acts and professionalism consistent with the branch's activities;
e. text of the competent agency of a foreign bank branch opened operations in Vietnam;
f. have written of the competent bodies of foreign countries to ensure the ability to monitor all activities of the branch in Vietnam;
g. has the text of the foreign banks ensuring responsible for all obligations and commitments of the branch in Vietnam.
2. Application for a license to establish and operate 2.1 application for a license to establish and operate a joint venture Bank in Vietnam and foreign Parties Party please license the establishment and operation in Vietnam joint venture Bank must send the Bank record includes : a) an application for a license to establish and operate a joint venture Bank in Vietnam by the legal representative or authorized person of each of the parties to the joint venture of the same sign (annex No. 1 attached);
b) draft Charter of venture Bank;
c) active approach 3 years after its establishment;
d), résumé, list the certification diploma, professional qualification of the founders, the members of the Management Board, supervisory board, General Director (Manager) of venture Bank;
DD) the list of capital contribution capital contribution level, parties to the venture;
e) financial situation and the information concerning the parties to the venture;
g) comments accepted the people's committees of provinces and cities under central headquarters of venture Bank;
h) of the foreign bank;
I) permits the operation of foreign banks;
k) certificate of authorized bodies of foreign countries allow foreign banks which founded the joint venture banks in Vietnam. The case of water resources regulations made without written approval, they must have evidence to confirm this;
l) financial balance sheet, profit and loss results tables have been audited and reported the situation to the nearest 3 years operation of foreign banks;
m) joint venture agreement between the parties to the joint venture has the following major contents: name, address of Bank venture;
Address, representatives of the parties to the venture;
The time limit for the operation of the joint venture;
Capital: capital contribution rate, the level of capital contributed by each side, capital contribution approach, in which clearly the capital in foreign currency, in Vietnam, in kind (if any);
The rights and obligations of the parties;
Procedure for resolving disputes between the parties arising from the implementation of the joint venture agreement, the procedure of liquidation, dissolution, amalgamation of venture Bank;
The conditions for amendments, additional joint venture agreement;
The number and proportion of members of the Board, the Board of Directors;
Expected number of cadres, staff time of each Party (Vietnam nationals, the number of foreign nationals) 2.2 application for a license to open a branch of foreign bank.
Foreign banks applying for licensing foreign bank to open a branch in Vietnam must send State Bank of record include: a) the application of open licensing of foreign bank branches in Vietnam by the Chair of the Board or who is Chairman of the Board of Directors authorized to sign (annex 2 attached). Application for a license to open a foreign bank branch must be legalized consuls (certified seal, signature) unless the country has signed with Vietnam international treaties containing provisions free of consular legalization for papers;
b) active approach 3 years after its establishment;
c) Charter of the foreign bank;
d) copy operations of foreign banks due to the competent authority of the country of resources;
DD) text of the foreign agencies have the authority to allow foreign banks to open branches operating in Vietnam;
e) financial balance sheet, profit and loss results tables have been audited and reported the situation to the nearest 3 years operation of foreign banks;
g) text of the inspection agency, the foreign monitoring ensure active monitoring of branch;
h) the text of the foreign bank guarantee is responsible for all the obligations and commitments of the branch in Vietnam;
I) résumé of the ceo (Director) foreign bank branches in Vietnam (certified by foreign bank);
k) comments accepted by the provincial people's Committee, the central cities where foreign bank branch intends to put its headquarters.
3. Regulations on receiving records 3.1. Application for licensing of foreign credit institutions must be established as a set of 2 by Vietnamese and a Ministry in English. Records are established abroad must be legalized consuls. The Vietnamese copies and translations from English to Vietnamese are certified agency Vietnam confirmed;
3.2. The Bank Side please license the establishment and operation of banks or foreign banks apply for license to open a branch operation in Vietnam (hereinafter called permit) send to the State Bank of Vietnam (The banks) are two sets of records as defined in point 3.1.
4. Confirmed records and licensing review period 4.1. Immediately after receiving sufficient record is valid, State Bank (The Bank) confirm in writing about the validity of the record to the parties in joint ventures or foreign bank license please.

4.2. The time limit for the review and licensing: within a period of 90 days from the receipt of the full application for license of the party in the joint venture or foreign bank, the State Bank decided to grant the licence or to refuse to grant the license. In case of refusal to license, the State Bank have text explaining the reason.
The license to establish and operate joint venture Bank and open a branch license foreign banks are granted according to the prescribed form (Appendix 3 and Appendix 4 attached).
5. Fees 5.1 license. Within 15 (fifteen) working days from the date licensee, the parties to the joint venture or foreign bank to be granted a license must submit a fee in us dollars to the bank account specified. Certificate from the fees must be stars send Service the bank records.
5.2. The level of the fee for each license (or licenses) are specified in clause 1, article 18 of the Decree.
5.3. Of this fee is not deducted from capital and is non-refundable in any circumstances.
6. Business Registration 6.1. After licensing, joint venture Bank, foreign bank branch license to register the business in accordance with the current law on business registration.
6.2. the joint venture Bank, foreign bank branch must send the Bank (The Bank) copy of business registration certificate within 7 working days from the date issued.
6.3. in case of addition or change one of the points scored in the license, after the State Bank has been approved in writing, the joint venture Bank, foreign bank branch must be registered with the business registration agency.
7. the blockade and unfreeze capital, capital 7.1. Before launching the operation a minimum of 30 (thirty) days, the joint venture Bank, foreign bank branch to transfer the whole of the monetary capital account blockade did not enjoy the open interest in State Bank. This capital was only German venture Bank, foreign bank branch activity.
7.2. In the case of capital or capital in-kind, part venture Bank, foreign bank branch to the Bank the legal papers to prove ownership and the value of artifacts.
8. Use the Bank's capital, the venture capital foreign bank branch's use of the Bank's capital, the venture capital affiliate of the foreign bank must comply with the following principles: a) stores the property served directly for the business activities must not exceed 25% of the capital , which is granted;
b) during the operation, the joint venture Bank, foreign bank branch was transfer the money according to the ratio% compared with the capital, capital abroad to send in foreign banks when the State Bank allowed. Venture Bank, foreign banks have submitted texts State Bank will guarantee adequate transfer of capital was transferred abroad about the Vietnam State Bank when required;
c) the entire capital of venture Bank, capital of a foreign bank branch must always be made in full on balance sheet assets of venture Bank, foreign bank branch.
9. operation 9.1 opening. Within a period of 12 months from the date of licensing, joint venture Bank, foreign bank branch must complete the necessary procedures and conducted the opening operation. Venture Bank, foreign bank branch just proceeded to inaugurate the operation after being issued a certificate of business registration.
9.2. Least 15 days before the opening of the operation, the joint venture Bank, foreign bank branch must notify the opening day activities for the State Bank, the business registration agency, the provincial people's Committee, the city where the joint venture Bank, foreign bank branch offices.
9.3. A special case not opened were in time specified in point 9.1. then a minimum of 30 days before the expiry of the opening operation, the Chairman of the Board of venture Bank, the authority of the foreign bank must have text sent State Bank and proposed to consider the extension of the opening day activities. State Bank may consider to extend the time limit for the maximum operational opening of 6 months.
9.4. The expiry regulation expiry renewal, if the joint venture Bank, foreign bank branch license not active opening, the Bank has granted license withdrawal and refund procedures which the custody (if any) after deducting the cost of prescribed procedures.
9.5. Before opening the minimum 30-day operation, the joint venture Bank, foreign bank branch must be reported on the daily newspapers by the Vietnamese press number 5 in a row (at least one newspaper of Central and a local newspaper where the headquarters) the following content : a) the name, address of venture Bank, foreign bank branch license, the name of the parties involved or the name of the foreign bank;
b) capital of the joint venture Bank, capital of a foreign bank branch;
c) content, scope of activity, operating time;
d) Number and date of licences issued by the State Bank; Number and date of the certificate of registration of business, agency name;
the opening Day activities);
e) name, nationality of the Chairman of the Board, General Director (Manager) of venture Bank, foreign bank branch;
g other characteristics) if necessary;
The number of reported on was sent to the State Bank (The Bank) to save the profile.
9.6. joint venture Bank, foreign bank branch has the duty to register with the provincial people's Committee, the central city where the headquarters of the entire number of foreigners working in Vietnam and foreign bank branches, joint venture Bank (Headquarters and branches).
10. financial and accounting Year 10.1. The financial year of venture Bank, foreign bank branch started from January 1 and end on December 31. The first financial year begins on the opening operation and ends on 31 December of that year.
10.2. the joint venture Bank, foreign bank branch must make vouchers and accounting mode under the right account system of accounting prescribed by the State Bank. Vietnam is the accounting unit. Work in foreign currency accounting to reporting to the headquarters of the foreign credit institution must then be approved by the State Bank.
10.3. the joint venture Bank, foreign bank branch must have full, accurate accounting of all services and preserving the books and vouchers relating to the profession and in accordance with the Ordinance of accounting and statistics of Vietnam.
11.11.1 report mode. Venture Bank, foreign bank branch must send the State Bank and the tax authorities in the Ministry of finance reports periodically by Vietnamese accounting, statistical and other types of forms to statistics about the situation of operation of venture Bank, foreign bank branch under the provisions of the State Bank and the Ministry of finance.
11.2. the report content first 6 and report financial year: report first 6 annual report and send the Bank (the Bank and the State Bank Inspector) includes the following content: activities in the reporting period;
Profit and loss results and profit distribution;
The arising problems in operation process and the proposals and recommendations to the State Bank.

11.3. The report first 6 must submit before June 30, and the annual report must be submitted within 90 days of the end of the financial year.
11.4. the annual financial statements of the joint venture Bank, foreign bank branch are audited by an independent auditing firm was approved by the State Bank of Vietnam.
11.5. within 180 days of the end of the financial year of the Vietnam joint venture Bank, foreign bank branch must send the State Bank (The Bank, the State Bank Inspector) annual financial reports of the parties to the joint venture, of foreign banks by Vietnamese or English.
12. Inspection, testing of the competent bodies of foreign countries for foreign bank branch 12.1. Monitoring bodies, competent inspectors of foreign countries and foreign banks have branches in Vietnam was right to inspection, check the operation of the foreign bank branches in Vietnam. Before conducting the inspection, testing, the above mentioned bodies must notify in writing to the State Bank (Chief Inspector of the State Bank and Director of the Bank) in terms of content, the start time and the end of the inspection, check.
12.2. At the latest 30 days after the end of the inspection, the inspection, the Agency conducted inspections abroad must submit the State Bank (Chief Inspector of the State Bank and Director of the Bank) report in writing to the Ombudsman the results, check.
13. The changes must be approved by the State Bank in writing: 13.1. Change the name venture Bank, foreign bank branch in Vietnam: application for change of name submitted to State Bank Governor include: application for change of name by the Chairman of the Board of the Bank or authorized foreign bank;
The decision of the Chairman of the Board or the shareholders (for the joint venture Bank). Standard paper y or accept the name change of the competent agency of the water resources of the foreign bank applying for change of name (for foreign bank branches);
The Charter was amended and supplemented by the joint venture Bank, foreign bank branch after the name change.
13.2. To increase or decrease the level of the Bank's capital, the venture capital of the foreign bank branch: application for increase and decrease of capital sent the Governor of the State Bank include: application for increase and decrease of capital levels, which was granted. Specify the amount of capital increase (or decrease), the reason the increase (or decrease) and the time taken by the Chairman of the Board of the Bank or authorized foreign bank;
Meeting minutes of the Board of venture Bank, foreign banks agreed to raise or lower the level of capital stock, capital.
13.3. Moved the headquarters to work a) Moved the headquarters to work to a province, other cities: profiles of State Bank Governor submitted include: application to move to a different city of the province, by the Chairman of the Board of the Bank or authorized foreign bank;
The opinion approved by the provincial people's Committee, the city where credit institutions moved to; b) Moved the headquarters to work within a province, city records sent to State Bank Governor: an application to transfer the headquarters working within a province, the city by the Chair of the Board or the joint venture Bank ceo (Director) of the foreign bank branch;
13.4. Change the members of the Management Board, ceo (Director) and member of the Board of bank control, General Director (Manager) of foreign bank branch within 15 working days from the date the written appointment, dismissal or periodically between the States members of the Board , General Director (Director) and member of the Board of bank control, General Director (Director) foreign bank branches; Chairman of the Board or who is Chairman of the Board of venture Bank, foreign bank branch must have text sent State Bank to look out the text to change. The enclosed text records include: a) for venture Bank: suggested text to change;
Appointed by decision of the joint venture Bank;
The curriculum vitae of the person appointed to be certified by the Board of venture Bank;
Decide or announce the dismissal of the person being replaced;
The minutes of the meeting of the parties to the joint venture Bank is asserted by the parties to the venture.
b) for foreign bank branch: State Bank sent text proposed to appoint the Director-General (Executive Director) branch by the Chair of the Board or who is Chairman of the Board authorized by the foreign bank.
Appointed by decision of the foreign bank;
The decision or notification of dismissal of the person being replaced;
The curriculum vitae of the person appointed to be certified by the foreign bank.
13.5. The time limit for the review of the State Bank.
Within 30 working days from the date of the full set of documents, the Bank decided to approve or refuse to approve the proposed changes outlined above. In case of rejection, the State Bank has explained clearly the reason text.
13.6. After the Bank approves in writing the changes, credit institutions must register the change with the business registration agency pursuant to the current legislation at the same time posted at least 10 the number of daily newspapers of Central and local content is approved.
13.7. additional professional activities.
When there are additional needs a specific profession, TCTD must submit the proposal to the State Bank. Petition by the Chair of the Board (for the joint venture Bank) or by the Director General of the foreign bank branch (for foreign bank branch).
State Bank review and reply in writing to the proposal of the credit organization fit models licensed credit institutions.
14. Transfer of shares of the parties in the case of a joint venture Bank in the inside want to venture out of the joint venture or transfer of shares to one or more of the other partners in the venture or they must comply with the provisions of Articles 26 and 27 of the Decree.
State Bank only accepts qualified partners join venture banks according to the rule of law to ensure the effectiveness of Bank operations.
14.1. Transfers for parties in the venture Bank: transfer funds for the party in the joint venture Bank exceeded regulations is valid only after they are benchmark Bank of y. Chairman of the Board of the joint venture Bank must have the papers sent to State Bank Governor proposed to approve the transfer of the shares between the parties to the transfer out of the joint venture (called Party sell) and the assignee in the other joint venture (called the buyer), the attached profile will include: a) the meeting minutes of the Board of venture Bank agreed on the transfer signed by the parties to the venture;
b) text of the seller send the State Bank announced the transfer of part or all of their shares in the joint venture Bank to the buyer;
c) text of the buyer sent the State Bank to recommend approval for permission to buy back part or all of the shares in the joint venture Bank of the seller.
14.2. assignment to one or more external organizations joint venture (called partners):

Chairman of the Board of the joint venture Bank must have the papers sent to State Bank Governor proposed to approve the transfer of shares of one or more parties in the venture (the seller) for new partners, records attached include: a) the meeting minutes of the Board of venture Bank agreed on the transfer of shares by the seller for a new partner , signed by the parties to the venture;
b) text of the seller send the State Bank announced the transfer of part or all of the shares in the joint venture Bank for new partners;
c) the text of the new partner sends the State Bank would be receiving a part or the whole venture capital in the Bank by the seller;
d) Charter, permits operation of the new partnership;
DD) If new partners is foreign credit organizations must have the text of the authorized agency of the water resources of the new partners are allowed to join venture banks in Vietnam;
e) financial balance sheet, table of business results were audited and reported the situation to the nearest 3 years of activities of the new partnership;
g) other documents required by the State Bank.
State Bank only approved the transfer of shares of one or more parties in the venture Bank for new partners on the basis of the new partner must ensure the conditions specified in paragraph 1, article 106, the law on credit institutions.
14.3. in case of transfer of the shares of the parties to the joint venture in the venture by a bank or other parties to the joint venture Bank in bankruptcy, merger, consolidation, acquisition or split (called Parties be takeovers), Chairman of the Board of the joint venture Bank must inform and recommend State Bank approval. The Organization has the legal right to receive shares in joint venture banks were takeover party (called the takeover Party) have full rights and obligations as the accused in Bank takeover. Records suggest the State Bank approved include: a) the Sheets of the Chairman of the Board of venture Bank State Bank Governor sent the proposal to approve the transfer of shares of one or more parties to a joint venture in the venture by a bank or other parties to the joint venture Bank in bankruptcy , merger, consolidation, acquisition or split;
b) text of the party were sent over the State Bank announces the transfer of its shares in the joint venture Bank for takeover Party;
c) text of the party sending the State Bank takeover proposal was receiving shares of the party was over;
d) texts embodying the legal rights of parties to govern in receiving shares of the Parties being in joint venture Bank takeover.
14.4. The transfer of shares of the parties involved in the joint venture Bank may result in the following changes: Bank name, Charter, joint venture agreement, members of the Management Board, supervisory board, General Director (Manager) of venture Bank. In case of the change, the joint venture Bank to conduct the procedures related to the changes in accordance with Point 13 of section II of this circular.
15. Establishment of the transaction and the Bank's branch banking venture venture was to open the Exchange, a branch in the province, the city of centrally prescribed about the opening of the Exchange, a branch of the credit organizations operating in Vietnam.
16. The change in credit institutions abroad must be reported to the Bank immediately after the following changes in credit institutions abroad (in raw water of origin), the joint venture Bank, foreign bank branch must have a written notice to the Bank a. splitting, merging, merging credit institutions abroad;
b. change the Chairman of the Board or Of the Executive Director;
c. change of address, change of name of foreign credit institutions;
d. bankruptcy, liquidation, dissolution of foreign credit institutions.
17. The procedure please renew license duration 17.1. Least 180 days before the end of the time limit stated in the operating licence, credit institutions licensed on request to extend the time limit for the license must be sent to the Governor of the State Bank to renew the application license period for venture Bank: petition to renew the term of the licence by Bank Governor sent representatives at law of the parties to the venture.
For a foreign bank branch: petition to renew the term of the license the Bank Governor sent by the Chair of the Board or who is Chairman of the Board authorized by the foreign bank.
Profile attached to the application for extension of the time limit for the license include: a) annual report of activities since being licensed, which stated results business in Vietnam, achieving goals and not yet reached over plans and activities in the coming period by the Chairman of the Board of venture Bank , General Director (Director) foreign bank branches;
b) annual report of the foreign credit institution in the nearest years in English. Active content in the latest year of the annual reports must be translated into Vietnamese;
c) comments of the Committee competent people about the renewal of the license term; d) other documents required by the State Bank.
17.2. The duration of activities: banks venture no more than 30 years;
Foreign bank branch not more than 20 years;
The time limit for the operation of the credit institution given in the license. Each time the maximum extension by the deadline stated in the license.
18. Decides to extend the term of the license for the joint venture Bank, foreign bank branch within 30 days of receipt of full set of documents specified in point 17 above, the Bank decided to extend the term of the licence or refuse to renew the license. In the event of renewed rejection, the State Bank has explained clearly the reason text.
19. Termination of activity of the joint venture Bank, foreign bank branch 19.1. Venture Bank, foreign bank branch operations in the event of termination expires activities recorded in the license or decide to extend the time limit for the license or would terminate the operation ahead of time.
a joint venture Bank): application for permission and active termination procedures prescribed by the State Bank.
b) for foreign bank branch: slowest is 60 days before the date of expiry of the activities recorded in the license or decide to extend the time limit on licence or expected please cease operation, the Chairman of the Board or who is Chairman of the Board authorized by the foreign banks submit to the State Bank Governor suggested Please terminate the operation. The case Please terminate the operation ahead of time, the form should indicate the expected date terminating operation of foreign bank branches in Vietnam.
The attached profile consists of: A the award procedure of liquidation of assets, payment plan and recovery of debts, plans to transfer capital, profits and assets abroad;
Other documents when requested by the State Bank.
c) within 30 days of receipt of the full record in the said attachment to the confirming documents by the competent State agencies of the foreign bank branch has to fulfill all the obligations under the law of the State Bank of Vietnam, the decision about the termination of the activity of foreign bank branches. In case of rejected or not yet accepted allows for the termination of the operation, the State Bank has the text explain the reason.

d) the responsibility of the foreign bank branch: within 15 working days from the date of the foreign bank branch received the decision of the Bank about the termination of activities, foreign bank branch must return the license for the State Bank and the 5th consecutive post (at least one of the Central and local newspapers where branch offices) notice of termination of activities.
19.2. the joint venture Bank, foreign bank branch license revoked and forcibly terminate the operation.
a) for venture Bank: profile and active termination procedure applies under the provisions of the State Bank.
b) for foreign bank branch: in addition to the case revoked the license of article 29 of the law on credit institutions, branches of foreign banks will be revoked the license in case of a foreign bank were declared bankrupt or dissolved. Before the termination of activities, foreign bank branch must fulfill all obligations and complete the necessary procedures in accordance with the law of Vietnam. The profile of the foreign bank branch sent to the State Bank include: text of competent authorities abroad decide the dissolution or bankruptcy of foreign banks;
A the award procedure of liquidation of assets, payment plan and recovery of debts, plans to transfer capital, profits and assets abroad (if any).
The text endorsed by the competent State agencies of the foreign bank branch has full implementation of all relevant obligations.
Other documents when requested by the State Bank.
c) within 30 days of receipt of the full set of the above records, the State Bank of the decision about the termination of the activities of the foreign bank branch. In the case of must extended to consider the termination of the operation, the State Bank has explained clearly the reason text.
d) the decision of the Bank about the termination of the activities of the foreign bank branch was sent to the State Bank, Bank branch, the provincial people's Committee, the city where the Branch Headquarters, business registration agency and related agencies. Within 15 working days from the date of the decision to terminate the operation, foreign bank branch must return the license for the State Bank. The State Bank will inform on a central and a local newspaper in the place where the foreign bank branch located 5 consecutive numbers of active termination for foreign bank branches.
III. Regulations on the establishment and operation of phòngđại of foreign credit organizations in Vietnam.
1. The conditions to be granted a license to open representative offices of foreign credit institutions include: a) foreign credit institutions are legal entities are allowed to operate foreign bank;
b) foreign credit institutions are competent agencies of foreign countries allow to open a representative office in Vietnam;
c) foreign credit organizations have ties with Vietnam in economic organizations.
2. Application for a license to open representative offices of foreign credit institutions 2.1. Foreign credit organizations wishing to open a representative office (REPRESENTATIVE OFFICE) in Vietnam must send the Bank record consists of: a REPRESENTATIVE OFFICE in Vietnam open application) by the Chair of the Board or the authority of the foreign credit institutions (annex 5 attached).
Application for opening of REPRESENTATIVE OFFICE must specify the purpose, the scope of activities of the Office;
b) active license copy of foreign credit institutions by the competent authorities of the country of resources;
c) the text of the authorized agencies abroad allows credit institutions to open representative offices in Vietnam. If the provisions of the water resources of the text isn't necessary to allow the required evidence to confirm this;
d) financial balance sheet, profit and loss results tables have been audited and reported the situation to the nearest 3 years activities of foreign credit institutions;
DD) 's Chief Vietnam Representative Office (certified by foreign credit institutions);
e) text stated at points a, b, c, d and DD must be translated from a foreign language out Vietnamese and Vietnam certified agency certification.
2.2. foreign credit organizations licensed to please file a record as defined in point 2.1. for the State Bank.
3. The time limit for the review and licensing of most recent offices 3.1. Receipt of a valid application as specified in point 2. the State Bank will confirm in writing to foreign credit institutions and send the text of the opinion of the governing body of the State concerned and the provincial people's Committee, the city where the OFFICE intends to put its headquarters.
3.2. within 20 (twenty) days from the date the exchange text comments, if not receiving text replies of the agencies involved, the State Bank is still conducting the review to make sure the time limit specified in point 3.3.
3.3. within 30 (thirty) days of receipt of a valid application, the State Bank review license (according to annex 6) or refuse the license. In case of refusal to license, the State Bank announced in writing stating the reason.
3.4. After the grant of the license to open REPRESENTATIVE OFFICES for foreign credit institutions, the Bank sent a copy of the license for the State Bank branch, the provincial people's Committee, the city where OFFICE based.
4. license fee within 7 (seven) working days from the date of being granted a licence to open a representative office, foreign credit institution licensing fees into the account specified by the Bank under the current provisions of the law.
5. Registration and opening of representative office activities 5.1. Within a period of 12 months from the date of license, representative offices are opened in operation and must announce the opening day activities for the State Bank, the State Bank branch and the provincial people's Committee, the city where a representative office based said.
5.2. within 45 days of being granted a licence to open a representative office, or within 15 days from the date of renewal of the license term, foreign credit organizations must submit to the provincial people's Committee, the headquarters city of records to include registration : a) active application according to the instructions of the provincial people's Committee, the city;
b) lease, rent at Headquarters;
c) A register of foreigners working in representative offices (including foreigners and the foreign settlement in Vietnam) and the number of people working in Vietnam representative office, labor contracts with employees in Vietnam;
d) text appointed Chief Representative Office by people with the authority of the foreign credit institution is licensed signed the attached curriculum vitae of Chief Representative Office.
5.3. within 15 (fifteen) working days from the date of the registration Paper of the provincial people's Committee, the City headquarters, the REPRESENTATIVE must submit a copy of the Registration Certificate issued to the State Bank (The Bank).
6. report activities of representative offices 6.1. Representative offices of foreign credit institutions to report in writing to the Office's activities in the first 6 months and a year for the State Bank (The Bank), State Bank branch and the provincial people's Committee, the city where offices are located.
The report first 6 must submit before June 30, and the annual report must be submitted within 90 days of the end of the financial year.
6.2. content of report:

a) organization structure, personnel, Office of Vietnam people and foreigners working in the Office.
b) main activities: market access of the representative office;
Investor relations, credit, dealer relations between offices with commercial banks and Vietnam economic organizations;
Consulting, training and work;
Other activities of a representative office.
c) direction of activities in the coming period.
6.3. In case of need, the Bank may request the Office to report irregular in addition to the periodic report, provide documentation, explanations of the problems related to their activities.
7. Rename, move the work of the Office of the representative offices of foreign credit institutions operating in Vietnam only made the change here after the approval in writing of the Bank: 7.1 the name changed to representative offices of foreign credit institutions in Vietnam : foreign credit organizations send State Bank petition to change the name of the standard text attached to the y or text to accept the name change of the competent bodies of water resource of grants for foreign credit organizations apply for change of name (due to the amalgamation, merger, split, acquisition).
After being Governor of the State Bank to approve the name change, in writing, a representative office to register the new name for the people's Committee and State Bank branch.
7.2 moved offices: a) moved to a different province or city: representative offices of foreign credit institutions submit State Bank based form attached to the opinion approved by the provincial people's Committee, the city where the Office intends to move to.
After being Governor of the State Bank to approve in writing the transferred to a province, other cities, representative offices of foreign credit institutions must register with the provincial people's Committee, the city where to notification in writing to the State Bank and the State Bank branch in the contact information, such as : new address, phone number, fax number, name of the Chief REPRESENTATIVE.
b) moved on the area of a province, the central cities: before moving the Headquarters on the same geographical, head of representative office must be notified in writing to the State Bank (The Bank) the expected move. Shortly after completing the move, head of the REPRESENTATIVE OFFICE is notified in writing to the State Bank, the State Bank branch and the provincial people's Committee, the city of the contact information such as address, telephone number, fax number.
8. Renewal of the term of license to open a representative office at the latest 30 days before the end of the time limit stated in the license, foreign credit organizations wishing to extend the term of the licence must submit the records to the State Bank (The Bank) record include: a) petition to renew the term of the licence by the authority of the credit institution of water In addition to signing; a a in English, a by South Vietnamese; Translation from English to Vietnamese are certified by the certified agency Vietnam.
b) summary of the activities of the Office during the time the license is in effect due to the Head Office (1 English, 1 Japanese by the Vietnamese).
c) comments of the Committee of the city where offices based on the extension of the term of Representative Office license.
d) annual report of the foreign credit institution in (1 copies).
After the level decided to renew the term of licenses for REPRESENTATIVE OFFICES of foreign credit institutions, the Bank sent a copy of the decision to extend the deadline for the province people's Committee, the city, where State Bank branch OFFICE.
Duration of activity of Representative Office of 5 years from the date stated in the permit. Each time be renewed time limit permits a maximum of no more than 5 years.
9. The time limit for review and reply of the Bank within 30 days of receipt of a valid application, the State Bank have written answer foreign credit organizations know the results please rename, move work to other cities in the province, or extend the term of Representative Office license.
10. Procedure of termination of activity of Representative Office 10.1. Representative offices of foreign credit institutions operating in Vietnam ended activity in the following circumstances: a) expiry stated in the license but the foreign credit institution needs no further renewals of license term or would cease operations before the deadline stated in the license : minimum 60 days before the expected termination of the activity of the representative offices of foreign credit institutions, have sent the State Bank Governor Please terminate the operation.
b) When foreign Bank representative offices have been granted a license to open a branch on the same geographical areas (provinces, cities directly under the Central Government), the representative office to terminate the operation. The termination of activity of representative office must be performed before conducting the opening activity of foreign bank branches. Representative Office must have a written notice to the State Bank, the people's Committee, the city and State where the Bank branch offices based on the expected time to terminate the operation.
c) revoked the license for reasons such as: there is evidence in the application license have the information deliberately falsify the truth; Representative Office not opening operation within 12 months from the date of the wrong operation or licensing purposes.
In the case of representative offices of foreign credit institutions license revoked and was forced to terminate the operation referred to in detail a, b, c above, the State Bank reported to the provincial people's Committee, the city and State Bank branch where the offices are located and the relevant agencies of Vietnam.
Case not opened representative offices works within a period of 12 months from the date of licensing State Bank latest representative office, the State Bank will revoke the licence but not refund license fees.
10.2. At the latest on the date of termination of activity of representative office, pay the license to open a representative office for the State Bank, registration Paper work for the people's Committee, the city where the offices are located and the procedures for paying the headquarters, means work has to hire and pay the debts (if any) with organizations and individuals concerned Vietnam.
11. A number of other rules for a representative office) representative office only made these works according to content and within the time limit prescribed in the activity licence. A representative office is not rent back based, and do not perform the functions of the other institutions represented in Vietnam, non-transferable license for organizations or individuals.
b) before demand change manager, foreign credit institutions must inform in writing to the Bank stating the estimated time change manager (enclosed resumes of the new representative).
c) representative office only added alien beyond the amount stated in the licence when there is a written approval of the State Bank.

d) Chief Representative Office only Contracting economy Vietnam economic organizations in cases of legal authorisation (in writing) of the authorized person of the foreign credit institution and must submit to the Bank a copy of that authorization paper to follow up the implementation.
DD) representative offices are only open accounts in foreign currency or in the currency native Vietnam in the Bank are established and operating in Vietnam to serve the activities of the representative office.
e) representative offices of foreign credit institutions in Vietnam have own stamp according to Vietnam Ministry of public security regulations and only used this seal in the transaction text in the powers and functions of the representative office.
IV. terms of enforcement 1. This circular has the effect after 15 days from the date of signing.
Circular No. 178/NH-TT on 05/10/1991 of the State Bank guidelines "regulation of foreign bank branches, joint venture banks operating in Vietnam" attached to Decree No. 189/dated 15/6/1991 of the Council of Ministers (Government) and circular No. 01/NH5-TT on April 28, 1995 the Bank's guidance of "regulation laying and operation of representative offices of foreign economic organizations in Vietnam "for foreign credit institutions attached to Decree No. 82/CP dated 03/08/1994 of the Government expired.
2. The Chief, Chief Inspector of banks, heads of units of the State Bank, Director of the State Bank branch, central cities, General Manager (Director) venture Bank, foreign bank branch and head offices of foreign credit institutions within the scope of his functions is responsible for implementation of this circular.
 
Annex 1 of the SOCIALIST REPUBLIC of VIETNAM established NAMĐộc-freedom-happiness APPLICATION LEVEL LICENSE and BANKING ACTIVITIES in VENTURE NAMKính sent: Governor State Bank NamCác Bank party join venture Bank established to send single State Bank Governor expressed aspirations founded joint venture Bank in Vietnam. In the menu there are the following: a. a foreign bank Side: 1. Full name and short name of the Bank.
2. headquarters address, address, telephone number, fax.
3. Capital stock.
4. Established date, the registration date and the start date of the activity.
5. Licensing Agency banking activities, the number and date of the license.
6. the certification body registration number, and the date of the certificate.
B. Bank Vietnam Party (including the content as stated at point A) c. venture Bank established in Vietnam: 1. Full name and abbreviation (if any) of the Bank.
2. Estimated location is headquartered.
3. The number of the Bank's capital and venture capital contribution rate of the parties.
4. Expected number of members of the Board, the Board of Directors.
5. The number of staff, the staff of the Bank venture: in which:-the number of foreign nationals-nationals Of Vietnam. The duration of the Bank's operation venture: 7. November is expected to inaugurate the Bank's operation venture.
... ... ... ....,...........
Single registration (legal representative or authorized person of each party signing the same venture) Appendix 2 FOREIGN BANK NAME--------------------APPLICATION for a LICENSE to OPEN a BRANCH in NAMKính FOREIGN BANK: State Bank of Vietnam Governor NamNgân ... ... ... sent the Governor of the State Bank of the application to open a branch in Vietnam with the following content : a. the Bank ...: 1. Full name and short name (if any) of the Bank.
2. The address of the head office, phone, fax.
3. Capital stock.
4. Established date, the registration date and the start date of the activity.
5. The Agency issued a certificate of business registration number, and the date of the certificate.
6. Licensing Agency banking activities, the number and date of the license.
B. Bank branch ... Please open in Vietnam.
1. The name of the branch.
2. Location plan to open a branch.
3. foreign bank's capital level for a branch in Vietnam.
4. The name, title and qualifications of people expected the Director of the branch.
5. Expected number of officials and employees of the branch.
The number of foreign nationals Of Vietnam nationals 6. Term of activity of the branch.
7. name, position the banks behalf .... track please open a branch.
 
... on ... ... ... ... ... ... ....
Sign the petition to Chairman of the Board (Or who is Chairman of the Board) Appendix 3 the State Bank Of Vietnam:/GP-NHLD SOCIALIST REPUBLIC of VIETNAM independence-freedom-happiness day...........................
 The LICENSE to ESTABLISH and OPERATE JOINT VENTURE BANK GOVERNOR of the STATE BANK of VIETNAM-pursuant to the law on foreign investment in Vietnam on November 12, 1996;
-Pursuant to the law the State Bank of Vietnam on 12 December 1997;
-Pursuant to the law on credit institutions in December 1997;
-According to the Government's Decree No. 13/1999/ND-CP dated 17 March 1999 "on the Organization, the activities of foreign credit organizations, representative offices of foreign credit institutions in Vietnam".
-Consider the application for a license to establish and operate joint venture banks............ Bank ... ... and Bank ...................... Decision: article 1: allows the following Parties established the joint venture banks in Vietnam.-the name and address: Vietnam-party transaction:-foreign Party: name and address: article 2: the Bank's Name..... transaction address:..........
Venture Bank has legal personality under the law of Vietnam and have own stamp.
Article 3:-the Bank's capital is the venture:..........................................:-Vietnam Party contributions...................% include:-foreign Party contribute...................% include: article 4: duration of the activity of the joint venture Bank: article 5: contents of the Bank's operation venture as follows: 1. The bronze Vietnam business................................................
2. The operations in foreign currency..............................................
3. The services and or other services article 6: the license is valid from the date of signing.
Article 7: the license be established. ...: each party within venture holding a; a grant to the Bank venture; a a registered in business register; a store at the State Bank of Vietnam.
The Governor of the State Bank of Vietnam annex 4 the State Bank Of Vietnam:/GP-CNNH SOCIALIST REPUBLIC of VIETNAM independence-freedom-happiness day........................ The LICENSE to OPEN a BRANCH of FOREIGN BANK GOVERNOR of the STATE BANK of VIETNAM-pursuant to the law the State Bank of Vietnam on 12 December 1997;
-Pursuant to the law on credit institutions in December 1997;
-According to the Government's Decree No. 13/1999/ND-CP dated 17 March 1999 "on the Organization, the activities of foreign credit organizations, representative offices of foreign credit institutions in Vietnam";
-Consider the application for a license to open a branch of foreign bank in Vietnam by the Bank ... on ... Decision: article 1: allow banks. .. based in ... is to open a branch in Vietnam.-the trading name and address of the branch........-capital for branch............. Article 2: duration of the activity of the branch.......... Article 3: the content of the operations branch. ... as follows: 1. The bronze Vietnam business......................................................
2. The operations in foreign currency......................................................
3. The professional or other services in article 4: the license is valid from the date of signing.

Article 5: licenses are established as 3 original, a grant to foreign banks, a a registered in business register and a save in the State Bank of Vietnam.
The Governor of the State Bank of Vietnam annex 5 name of foreign credit organizations APPLY for a LICENSE to OPEN a REPRESENTATIVE OFFICE in VIETNAM Dear Governor State Bank credit foreign organization NamTổ sent the Governor of the State Bank application to open a representative office in Vietnam with the following content : i. foreign credit institutions:-full name and short name of the foreign credit institution;
-The address of the head office, phone, fax number;
-Capital (registered capital);
-Licensing Agency on operations and the number of the licence;
-Established on business registration, and the start of operations;
-Certificate of business registration, the date and number of the certificate;
-Active content: II. Please open a representative office in Vietnam-the full name and the short name of the REPRESENTATIVE OFFICE in Vietnam:-location scheduled to open REPRESENTATIVE OFFICE aims to:-Please open OFFICE:-the number of people working in the OFFICE, in that:-the number of people in foreign countries (maximum) – Vietnam (min)-time limit for the operation of scheduled REPRESENTATIVE OFFICE is ... ... the year-name , year of birth, the nationality Minister OFFICE we committed during operations in Vietnam, representative offices and the staff of the Office of the representative to comply strictly and properly functioning Vietnam law content that allows the SBV.
Day..................................
Sign the petition: Chairman of the Board or who is Chairman of the authorization.
Appendix 6: Vietnam State Bank/GP-REPRESENTATIVE of the SOCIALIST REPUBLIC of VIETNAM independence-freedom-happiness day............................ The LICENSE to OPEN REPRESENTATIVE OFFICES of FOREIGN CREDIT INSTITUTIONS in VIETNAM, the GOVERNOR of the STATE BANK of VIETNAM-pursuant to the law the State Bank of Vietnam on 12 December 1997;
-Pursuant to the law on credit institutions in December 1997;
-According to the Government's Decree No. 13/1999/ND-CP dated March 17, 1999 "on the Organization, the activities of foreign credit organizations, representative offices of foreign credit institutions in Vietnam";
-Review the application license latest Representative Office of............. Decision: article 1: allow credit institutions ... to open a representative office in Vietnam Representative Office Name: address: ... ... ... .... the thing 2: content activities of representative offices:.......... Article 3: duration of activity of representative office:.......... Article 4: the license is effective from the date of signing.
Article 5: the license was established as the main version, a 2-level for foreign credit institutions and a save in the State Bank of Vietnam.
The Governor of the State Bank of Vietnam