Techcombank would like to notify you of some major provisions on foreign investment in Vietnam as set forth in Circular 06/2019/TT-NHNN on foreign exchange management for foreign direct investment to Vietnam (“Circular 06”) as follows:
- Scale up the target customer base opening Direct Investment Capital Account:
- An enterprise with a foreign investor owning at least 51% of the Charter Capital
- An enterprise with a project carried out by an investor to execute a PPP project
- Stipulate the transfer of investment capital and the project in a clearer manner
To ensure the compliance with legal regulations by both you and Techcombank, Techcombank would like to notify you of the following items, which must be done by 06 September 2020:
1. For resident corporate clients:
- Please re-visit your legal documents to determine whether or not you are required to open a Direct Investment Capital Account according to Circular 06.
- For clients not satisfying conditions set forth in Circular 06 to maintain a Direct Investment Capital Account, please close this account with us.
2. For foreigners as the Bank’s individual customers:
Their types of accounts & corresponding steps shall be subject to the type of enterprise where the client made their capital contribution under the impact of Circular 06. Therefore, you should get information from the Enterprise where you work for to make sure that the type of account & corresponding steps of payment and collection transactions made on the capital account opened with Techcombank in line with Circular 06.
For more details, please see
here
For any inquiry regarding Circular 06 or should you wish to open a Direct Investment Capital Account with us, please contact your TCB branch for timely support.
