On 25/12/2018, the State Bank of Vietnam promulgated the Circular No. 36/2018/TT-NHNN on lending to invest abroad of Credit institutions, foreign bank branches for customers.
Accordingly, Circular No. 36/2018/TT-NHNN specifically provides on conditions to borrowing capital to invest abroad, including:
– The customer is a legal entity with civil legal capacity; If the customer is an individual, he or she must be at least 18 years of age and have full civil act capacity;
– There are 2 consecutive years without bad debts up to the time of loan application;
– Has been granted an offshore investment registration certificate and investment activities approved or licensed by the competent authority of the investment recipient country;
– Having offshore investment projects and plans evaluated by credit institutions as feasible and customers capable of repaying credit institutions.
Besides, this Circular also stipulates the loan level agreed by credit institutions and customers; but not more than 70% of the offshore investment of customers.
It can be seen that Circular No. 36/2018/TT-NHNN has detailed and specific regulations on conditions for borrowing capital to invest abroad. Thereby, helping organizations and individuals have the basis to implement accurately, save time and improve the efficiency of investment activities.