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 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 provide relevant industry-focused advice, delivered quickly to ensure that we add value from day one. ANT Lawyers, your lawyers in Vietnam.
How ANT Lawyers Could Help Your Business?
The changes of laws will be monitored by ANT Lawyers. For advice or service request, please contact us via email ant@antlawyers.vn or call our office at (+84) 24 730 86 529
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