AMENDING DOSSIERS, ADMINISTRATIVE PROCEDURES IN FOREIGN EXCHANGE MANAGEMENT

According to Circular No. 15/2019/TT-NHNN issued by the State Bank on 11 October, 2019 and coming into effect on 25 November, 2019:

• Supplement new provisions on operations of foreign exchange agents, accordingly, business organizations may agree with credit institutions authorized in agency contracts on situating foreign exchange agents in one or more locations on the region where the business organization has its office or branch.
• Change the required documents in the application for approval of foreign exchange agent registration: Instead of preparing the Status Report of equipment, devices and facilities for sustaining foreign exchange activities, the submitter only needs to prepare a Report of public exchange rate bulletins, signboards stating names of the authorizing credit institutions and the name of the foreign exchange agent at the place of transaction for submission.
• Change the documents requested for issuance of an outward indirect investment registration certificate: Instead of a report for the last consecutive 05 years as previously prescribed, the submitter only needs to submit a copy of an audited financial report for the last consecutive 03 years prior to the year of submission.

Best regards,