03 CASES FOR AMENDMENT AND SUPPLEMENTATION TO THE LICENSE OF REPRESENTATIVE OFFICES OF CREDIT INSTITUTIONS

According to Circular No. 25/2019/TT-NHNN issued by the Governor of the State Bank of Vietnam on December 02, 2019 and coming into effect on January 17, 2020:

– Accordingly, the State Bank supplements the provisions on amendment, supplementation to the License regarding changes of representative offices. Specifically: The Representative Office must prepare a dossier for requesting amendments, supplementations to the License if (i) the name changes, (ii) the head office relocates to another province or city, or (iii) extending the operational term.

– In the case License of Representative Office is amended or supplemented by the State Bank branch, Representative Office is obligated to perform the following tasks:

• Registration of changes of information to competent state agencies;
• Operating at the new location, terminating operations at the old location within 06 months, from the date the License is amended/supplemented;
• Notice of changes of information in the State Bank of Vietnam’s mass media and 03 consecutive issues of a daily newspapers or electronic newspapers within 07 working days.

Best regards,