According to Vietnam-WTO Commitments and Investment Law, foreign investor is allowed to setup foreign owned company in Vietnam to provide financial management consulting services (CPC 89502).
This service shall include advisory, guidance and operational assistance services concerning decision areas which are financial in nature, such as working capital and liquidity management, determination of an appropriate capital structure, analysis of capital investment proposals, development of accounting systems and budgetary controls, business valuations prior to mergers and/or acquisitions, etc., but excludingadvisory services on short term portfolio management which are normally offered by financial intermediaries.
In order to provide this service, the Foreign Investor must have at least two managing persons in the Company in Vietnam who has been granted License to providing Financial Consultation Services.
However, Vietnam Law does not impose any minimum capital amount to run this service in Vietnam.
– Vietnam-WTO Commitments also permit Foreign Financial Company to setup Wholly Foreign Owned Financial Company in Vietnam to provide services of
(i) Lending of all types, including consumer credit, mortgage credit, factoring and financing of commercial transaction;
(ii) All payment and money transmission services, including credit, charge and debit cards, travellers’ cheques and bankers drafts;
(iii) Guarantees and commitments;
(iv) Money broking;
(v) Trading for own account or for account of customers, whether on an exchange, in an over-the-counter market or otherwise, the following:
(a) Money market instrument (including cheques, bills, certificates of deposits);
(b) Foreign exchange;
(c) Exchange rate and interest rate instrument incl products such as swaps, forward rate agreements;
(d) Bullion;
(vi) Asset management, such as cash or portfolio management, all forms of collective investment management, pension fund management, custodial, depository and trust services;
(vii) Settlement and clearing services for financial assets, including securities, derivative products, and other negotiable instruments;
(viii) Provision and transfer of financial information, and financial data processing and relatedsoftware by suppliers of other financial services. Foreign Investor who applies for setting up wholly foreign owned Financial Company in Vietnam must have total assets value of 10 billion USD in the most recent year. The minimum charter capital of Financial Company in Vietnam is 300 billion Vietnam Dong (equivalent to 15 million US Dollar).
