THE STATE BANK OF VIETNAM | | THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness |
No. 06/2019/TT-NHNN | | Hanoi, June 26, 2019 |
CIRCULAR
Guiding the foreign exchange management of foreign direct investment in Vietnam[1]
Pursuant to the June 16, 2010 Law on the State Bank of Vietnam;
Pursuant to the June 16, 2010 Law on Credit Institutions and the November 20, 2017 Law Amending and Supplementing a Number of Articles of the Law on Credit Institutions;
Pursuant to the December 13, 2005 Ordinance on Foreign Exchange and the March 18, 2013 Ordinance Amending and Supplementing a Number of Articles of the Ordinance on Foreign Exchange;
Pursuant to the Government’s Decree No. 70/2014/ND-CP of July 17, 2014, detailing a number of articles of the Ordinance on Foreign Exchange and the Ordinance Amending and Supplementing a Number of Articles of the Ordinance on Foreign Exchange;
Pursuant to the Government’s Decree No. 16/2017/ND-CP of February 17, 2017, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
At the proposal of the Director of the Foreign Exchange Management Department;
The Governor of the State Bank of Vietnam promulgates the Circular guiding the foreign exchange management of foreign direct investment in Vietnam.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation
1. This Circular guides the foreign exchange management of foreign direct investment in Vietnam, including contribution of investment capital; opening and use of foreign-currency and Vietnam-dong direct investment capital accounts; transfer of money for carrying out investment preparation activities; outbound transfer of capital, profits and lawful revenues; and transfer of investment capital or investment projects.
2. The contents related to the foreign exchange management of foreign-invested enterprises being public companies and having stocks listed or registered for transaction at stock exchanges must comply with the regulations on the foreign exchange management of foreign indirect investment in Vietnam.
Article 2. Subjects of application
This Circular applies to:
1. Foreign-invested enterprises prescribed in Clause 2, Article 3 of this Circular.
2. Foreign and Vietnamese investors in foreign-invested enterprises.
3. Foreign investors to business cooperation contracts (BCCs).
4. Foreign investors to investment contracts in the form of public-private partnership (PPP).
5. Organizations and individuals involved in foreign direct investment in Vietnam.
Article 3. Interpretation of terms
In this Circular, the terms below are construed as follows:
1. “Foreign investors” include individuals holding foreign citizenship and organizations established under foreign laws that conduct foreign direct investment in Vietnam.
2. “Foreign-invested enterprises” include:
a/ Enterprises established as economic organizations whose members or shareholders are foreign investors and which are required to carry out procedures for grant of investment registration certificates under the investment law;
b/ Enterprises other than those prescribed at Point a of this Clause with foreign investors owning 51% or more of their charter capital, including:
(i) Enterprises to which foreign investors contribute capital or in which foreign investors purchase shares or contributed capital (which are engaged in conditional or unconditional business investment sectors and trades applicable to foreign investors), which leads to foreign investors owning 51% or more of their charter capital;
[1] Công Báo Nos 611-612 (03/8/2019)
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Circular 06/2019/TT-NHNN DOC (Word)
Circular 06/2019/TT-NHNN PDF (Original)
