ADJUSTMENTS ON COMPULSORY RESERVES APPLICABLE TO CREDIT INSTITUTIONS
On December 04, 2015, the State Bank of Vietnam issued the Circular No. 23/2015/TT-NHNN dated December 04, 2015 of the State Bank amending, supplementing a number of articles of the Decree No. 581/2003/QD-NHNN dated June 09, 2003 of the State Bank Governor promulgating the regulation on compulsory reserves applicable...
From 2016, total number of national assembly deputies must not exceed 500
The total number of National Assembly deputies must not exceed 500, including full-time and part-time National Assembly deputies, of which the number of full-time National Assembly deputies must account for at least 35% of the total number of National Assembly deputies is one of the most significant points under...
Not carry out procedures for investment registration for domestic investment projects
On November 26, 2014, the National Assembly approved the Law No. 67/2014/QH13 on Investment with many new contents that have strong effects on domestic and foreign investors. First of all, the Law regulated that only investment projects of foreign investors and economic organizations having 51% or more of their ...
Encourage to provide for the voluntary supplemental retirement program
At the Decree No. 88/2016/ND-CP dated July 01, 201 of the Government on voluntary supplemental retirement program. The Government encourages developing voluntary supplemental retirement programs by means of incentive policies provided for in laws on taxation and investment results and payment rates made by retirement funds shall not be...
Credit institutions allows to have custody services, security cabinets and safes for lease
In accordance with the Circular No. 02/2016/TT-NHNN on provision of the custody services, security cabinets and safes for lease by credit institutions issued by the State Bank of Vietnam on February 26, 2016, Credit institutions allows to have custody services, security cabinets and safes for lease when such services...
Fees for issuance of working holiday permits to new zealand and australia working holiday makers is vnd 600,000/issue/person
On September 19, 2016, the Ministry of Finance issued the Circular No. 140/2016/TT-BTC dated September 19, 2016 of the Ministry of Finance on collection and payment of fees for issuance of working holiday permits with respect to New Zealand and Australia working holiday makers.
Accordingly, The amount of fees for...
The fee of issuance or renewal of a certificate of multi-level marketing is VND 5 million/application
In accordance with the Circular No. 156/2016/TT-BTC dated October 21, 2016 of the Ministry of Finance on providing for fees for processing of application for the certificate of multi-level marketing, collection, transfer and management thereof, applies to enterprises applying for issuance, replacement, addition or renewal of the certificate of...
Shareholding percentage of a foreign organization shall not exceed 15% of a Vietnamese credit institution’s charter capital
This is one of remarkable point in Decision No. 01/2014/ND-CP dated January 3, 2014 of the Government on foreign investors’ share purchase from Vietnamese credit institutions
Accordingly, shareholding percentage of a foreign individual shall not exceed 5% of charter capital of a Vietnamese credit institution and shareholding percentage of a...
Photocopying service establishment must make declaration at least 10 days before operation
A photocopying service establishment shall make declaration to the district-level People’s Committee at least 10 days before operation is the important content at the Decree No. 60/2014/ND-CP dated June 19, 2014 of the Government prescribing printing activities[...]
Providing the maximum interest rate applicable to usd deposits
On March 17, 2014, the State Bank of Vietnam issued the Circular No. 06/2014/TT-NHNN providing for the maximum interest rate applicable to USD deposits of organizations, individuals at credit institutions[...]
