Vietnamese
This content is prescribed in the Draft on on guiding the opening and use of accounts by Vietnam dong for the implementation of foreign indirect investment activities in Vietnam.
Accordingly, the foreign investor must open one indirect investment capital account by Vietnam dong (except for the cases specified in Clause 2 of this Article) at one licensed bank.
The foreign investor must open one indirect investment capital account by Vietnam dong (except for the cases specified in Clause 2 of this Article) at one licensed bank to conduct collection and payment transactions of indirect foreign investment in Vietnam.
- The foreign investor being a foreign securities company is allowed to open 02 indirect investment accounts corresponding to 02 securities trading codes which are granted: 01 indirect investment capital account of his/her own and 01 indirect investment capital account for securities brokerage activities of the company;
- Foreign investors being foreign investment funds or foreign organizations which are managed by many foreign fund management companies may open many indirect investment capital account corresponding to the issued securities trading codes, in which each investment portfolio managed by a foreign fund management company may open 01 indirect investment account corresponding to 01 issued securities trading code; investment portfolios managed by foreign investment funds or organizations that have been granted a separate securities trading code may open 01 corresponding indirect investment account;
- Foreign investors being investment organizations under foreign governments or foreign investors being investment and financial institutions under the international financial institutions to which Vietnam is a member can open many indirect investment capital accounts corresponding to the issued securities trading codes in which each investment portfolio in the depository bank with 01 securities trading code may open 01 corresponding indirect investment capital account.
In previous regulations, as specified in Circular No. 05/2014/TT-NHNN on guiding the opening and use of indirect investment capital accounts for implementation of foreign indirect investment activities in Vietnam, prescribes that when conducting indirect investment activities in Vietnam, a foreign investor shall open one (1) indirect investment capital account at one (1) licensed bank to conduct licensed collection and payment transactions
