Asia Counsel Insights provide an overview of the key trending legal and business issues in Vietnam and how they may impact your business.

Key Dates

  • AGMs must be held by 30 April.
  • Enterprises need to make quarterly provisional CIT payments by end of April.
  • A borrower of a foreign loan must make report to the provincial SBV about the status of its loan in Q1 latest by 5 April.
  • A public holiday for Hung Vuong Remembrance Day will be on 18 April 2016.

Banking Wrap

Foreign Loans

Our last edition of Asia Counsel Insights reported on Circular 03/2016/TT-NHNN dated 26 February 2016 in relation to the registration of foreign loans. In this edition, we report on other legal issues under Circular 03.

  • Loans under a deferred payment plan for the import of goods are no longer required to be registered.
  • A short term of12 months must be fully repaid within 10 days after the first year anniversary of drawdown to avoid loan registration.
  • A borrower may refinance its foreign loans, however, it is unclear whether a borrower may refinance its existing Vietnamese loans by taking out a foreign loan.
  • If the borrower is a credit institution it must provide a report to demonstrate that it has met the prudential requirements for the latest month prior to registration.

Please click Asia Counsel Insights 1 April 2016 for more information.

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