Chương 4 Nghị định 63/1998/NĐ-CP: các giao dịch vốn

Chapter IV

CAPITAL TRANSACTIONS

Article 16.- Transfer of foreign currency(ies) back to Vietnam in capital transactions

Residents being organizations which have foreign currency revenues from overseas capital transactions shall have to transfer such amounts of foreign currency(ies) back to Vietnam and deposit them in foreign currency accounts opened at the licensed banks; in cases where they are retained abroad, the provisions of Vietnamese law shall apply. The sale of foreign currency(ies) collected from capital transactions to the licensed banks shall be effected on the basis of mutual agreement.

Article 17.- Management of foreign loans and payment of foreign debts, granting loans to foreign parties and retrieval of such loans

1. The Government shall exercise uniform State management over activities related to foreign borrowings and payment of foreign debts, loans granted to foreign parties and retrieval of such loans. The management of foreign borrowings and payment of foreign debts, loans granted to foreign parties and retrieval thereof shall comply with separate provisions of law.

2. Residents being Vietnamese economic organizations, foreign-invested enterprises and credit institutions in Vietnam, when borrowing and paying foreign debts or lending and retrieving loans from foreign parties shall have to make registration thereof with and report on the use of the borrowed amounts to the State Bank in accordance with the provisions of the legislation on the management of foreign debts and loans.

3. The transfer of money for borrowing and paying foreign debts, lending and retrieving loans from foreign parties by Vietnamese economic organizations, foreign-invested enterprises and credit institutions in Vietnam must be effected via the licensed banks and only after the registration thereof has been made with the State Bank.

Article 18.- Direct investment

1. Direct investment in Vietnam

a/ Foreign investors are encouraged to transfer investment capital in foreign currency(ies) from abroad into Vietnam in accordance with the provisions of the Law on Foreign Investment in Vietnam.

b/ Foreign investment capital in cash must be transferred into accounts opened at banks operating in Vietnam and used for the purposes prescribed in the investment licenses already granted by the Vietnamese competent agency.

c/ Foreign-invested economic organizations shall have to report to the State Bank on the use of their investment capital and the transfer of profits back to their home country(ies);

d/ Foreign investors shall be entitled to transfer abroad foreign currency(ies) for the payment of foreign debts' principals and interests, fees of foreign borrowings, investment capital, re-investment capital, profits and other lawful incomes in accordance with the provisions of the Law on Foreign Investment in Vietnam.

2. Direct investment abroad

a/ Vietnamese investors shall be entitled to transfer capital abroad for investment in accordance with Vietnamese legislation on investment in foreign countries. Capital in cash for overseas investment must be transferred via bank accounts.

b/ Vietnamese investors' capital in cash and/or property (tangible or intangible) for overseas investment must be registered with the State Bank.

c/ At the end of a fiscal year or upon the completion or termination of their investment in foreign country(ies), Vietnamese investors shall have to transfer their whole profits and other lawful incomes or capital back to Vietnam and report to the State Bank.

d/ In case where their profits are used for re-investment abroad or their overseas investment durations extend, Vietnamese investors shall have to register with the State Bank.

Article 19.- Investment in valuable papers

1. Non-residents shall be entitled to invest in papers of foreign currency value which are allowed to be issued in Vietnam. The conditions and procedures for investment in valuable papers shall comply with the provisions of the legislation on securities and other relevant provisions of law.

2. When approved by the State Bank, the residents may invest in papers of foreign currency value issued by non-residents abroad.

Article 20.- Management of foreign exchange in case of permanent settlement

1. Residents being Vietnamese citizens allowed to leave the country for permanent settlement abroad shall be entitled to buy, transfer and bring along foreign currency(ies) and gold of international standard in accordance with the provisions of law.

2. Non-residents being foreigners allowed to enter Vietnam for permanent settlement shall be entitled to bring and/or transfer into Vietnam foreign currency(ies) and gold of international standard in accordance with the provisions of law. The use of foreign currency(ies) and gold of international standards must comply with the provisions of this Decree and the current relevant provisions of the legislation on foreign exchange management.