Banking and finance sector always attract investors as the
growth of financial services in a growing economy. Our banking and finance
lawyers in Vietnam constantly monitor the changes of the Vietnam regulations to
update our client and provide them with best service.
Banking system in
Vietnam has been organized
according to the traditional model in which State Bank manages all commercial
banks and other credit organizations. According to the Vietnam Law on Credit
Institutions, there are six organizational forms of credit institutions:
domestic commercial bank established and organized as joint stock company,
state commercial bank formed as one-member limited liability company, domestic
non-bank credit institution as joint stock or limited liability company, joint
venture or wholly foreign-owned credit institution as limited liability
company, cooperative bank and people’s credit funds as cooperatives,
microfinance institution as limited liability company.
Banking and finance sector is a highly regulated
area. Vietnam laws require commercial bank on legal capital of VND 3,000
billion at the setting-up. Further, commercial banks’ operation must
comply with decisions of State Bank and other authorities. Each type of credit
institution has different conditions on organization, management, operation.
Commercial bank, the type allowed to operate in largest scope is permitted to
take demand deposits, time deposits, savings deposits; issue deposit
certificates, promissory note, treasure bills, bonds to raise capital at home
and abroad; open payment accounts for clients, provide payment instruments,
domestic and international payment services; extend credit while the others
just conduct some of the above activities.
For foreign investor, to engage in banking and finance in Vietnam, they could commercially present in Vietnam in
the forms of representative office, joint-venture bank, wholly foreign-owned
bank, foreign bank branch, joint-venture finance company, wholly foreign-owned
finance company, joint-venture financial leasing company and wholly
foreign-owned financial leasing company base on the Law on credit institutions,
Circular no.07/2013/TT-NHNN, Circular no. 20/2008/TT-BTC, and Circular no.
18/2018/TT-BTC.
Professionals at ANT
Lawyers work on many a variety of banking and financial services cases. Our
attorney’s industry knowledge and expertise allow us to effectively support the
banking and financial services sector. ANT Lawyers - Law firm in Vietnam that provide relevant
industry-focused advice, delivered quickly to ensure that we add value from day
one. ANT Lawyers, your lawyers in Vietnam.
