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APPLY FOR A FOREIGN LOAN NOT GUARANTEED BY THE GOVERNMENT
- A dossier of registration of a foreign loan is not guaranteed by the Government at present
To apply for a foreign loan not guaranteed by the Government, the borrower will need to carefully prepare a complete set of documents with the following documents
| STT | Document name | Kind | Note |
| 1 | Loan application form Appendix 01 attached to Circular 12/2022/TT-NHNN | 01 Original | |
| 2 | Establishment license, Business registration certificate (for enterprises), Cooperative registration certificate (for cooperatives), Cooperative Union | Notarized copy | |
| 3 | Documents proving loan purpose
– To implement investment projects: Prepare investment certificates, investment registration certificates or decisions approving investment policies in accordance with the provisions of investment law and current provisions of relevant laws; – Implementation of production and business plans other than investment projects: Prepare approved plans for using foreign loans (or other documents prescribed by law) – Restructuring the borrower’s foreign debt: The plan for restructuring the borrower’s foreign debts is approved by a competent authority in accordance with the Law on Enterprises and the enterprise’s charter, the Law on Cooperatives and the cooperative’s charter and other relevant legal documents; -The loan must be registered with the Home Bank, the short-term loan is entitled to an extension of the principal repayment period but the total term of the loan is more than 01 year, the short-term loan does not have an extension agreement but the principal balance at the time of 01 year from the date of the first capital withdrawal: prepare reports on the initial use of short-term foreign loans satisfying regulations on conditions for short-term foreign loans together with plans on use of foreign loans of borrowers and plans on restructuring foreign debts |
01 notarized Copy or original | |
| 4 | Foreign loan agreements and agreements on extension of short-term loans into medium and long-term loans are accompanied by Vietnamese translations | 01 notarized copy | |
| 5 | Written guarantee commitment enclosed with Vietnamese translation | 01 notarized copy with 01 translation | If bailed out |
| 6 | Documents of competent authorities approving and approving foreign loans in accordance with the law on decentralization of exercise of rights, responsibilities, and obligations of state owners | 01 Copy | |
| 7 | Report on compliance with regulations of the State Bank on limits and safety ratios in operations of credit institutions and branches of foreign banks. This report includes the assessment of compliance with the conditions for self-borrowing and self-payment foreign loans in the period from the end of the last 03 months before the date of signing the loan agreement to the end of the latest month before the time of submitting a complete application for registration of a foreign loan not guaranteed by the Government. If there are violations, the report also describes measures approved by the Prime Minister or the Governor of the State Bank (if any) against credit institutions or foreign bank branches. | 01 notarized copy | |
| 8 | Confirmation from the service provider bank | 01 notarized copy | For borrowers who open loan accounts, repay foreign debts at banks providing account services |
| 9 | Documents proving profits from direct investment activities of foreign investors, legally divided in Vietnamese dong, together with confirmation of the bank providing account services on the distribution and transfer of profits back home. | 01 notarized copy | |
| 10 | Explanatory documents on the demand for foreign loans in Vietnamese dong must be approved by the Governor of the State Bank in accordance with current regulations of the State Bank on conditions for foreign loans in Vietnamese dong | 01 Original |
- Persons in the case of registration of foreign loans not guaranteed by the Government
Here are 05 subjects in the group that must register foreign loans not guaranteed by the Government specified in Circular 12/2022/TT-NHNN, specifically as follows:
- The borrower enters into a foreign loan agreement with the lender who is a non-resident.
- The obligor shall repay debts under debt instruments issued outside the territory of Vietnam to non-residents.
- The organization shall be responsible for repaying debts directly to the principal in case the credit institution or a branch of a foreign bank signs a contract for receiving a re-lending trust with the principal being a non-resident.
- The successor to the obligation to repay foreign loans subject to registration or registration changes as prescribed in this Circular in case the borrower is performing a foreign loan, it shall divide, separate, consolidate or merge
- The lessee in the financial leasing agreement with the lessor is a non-resident.
- Where to apply for a foreign loan not guaranteed by the Government?
A dossier of registration of a foreign loan not guaranteed by the Government shall be submitted to the competent authority as follows:
- The State Bank under the Foreign Exchange Management Department: Apply for registration of foreign loans not guaranteed by the Government if the loans have a loan amount of more than 10 million USD (or another currency of equivalent value);
- The State Bank of Vietnam’s branch of the province or city where the borrower’s head office is located: Submit an application for registration of a foreign loan not guaranteed by the Government to the branch State Bank if the loans have a loan amount of up to 10 million USD (or another currency of equivalent value). In case of foreign loans denominated in Vietnamese dong, the Governor of the State Bank will consider and make a conclusion of approval or not.
The procedure is as follows:
Step 1: Declare information on the Website: https://qlnh-sbv.cic.org.vn/qlnh/ and Prepare the application and print the Application from the Website, sign and stamp it
Step 2: The borrower shall send 01 application for registration of a foreign loan not guaranteed by the Government as declared in Part 2 to the competent authority to confirm the registration within the time limit:
- Within 30 days from the date the guarantee is signed, for guaranteed loans.
- Within 30 days from the date of signing the medium- and long-term foreign loan agreement.
- Within 30 days from the date of signing the written withdrawal agreement, if there is an agreement on capital withdrawal and before making the capital withdrawal.
- Within 30 days from the date of the short-term loan of 01 year, counting from the date of the first withdrawal of the self-paid loan after overdue 10 days, from the date of the first withdrawal of 01 year.
- Within 30 days after the date of signing the extension agreement, for self-pay short-term loans.
- Within 60 working days, for short-term loans, the principal repayment period shall be extended, if the total term of the loan is more than 01 year, starting from the date of the first withdrawal to the date of 01 year later. For short-term loans, there is no extension agreement, but there is still outstanding principal (including principal interest debt) at the time of 01 year from the date of the first capital withdrawal.
Step 3: The State Bank receives the application for registration of foreign loans not guaranteed by the Government and considers the application
Step 4: The State Bank shall issue a written confirmation or rejection of the registration of foreign loans not guaranteed by the Government.
- Consultancy and support services for procedures for registration of foreign loans not guaranteed by the Government from Siglaw
With consulting services, supporting procedures for registration of foreign loans not guaranteed by the Government from Siglaw, customers will be provided with information and advice on regulations and policies related to procedures for registration of foreign loans not guaranteed by the Government that are currently prescribed by law. We are honored to accompany and support investors and businesses to apply for foreign loans not guaranteed by the Government quickly and efficiently.
Phone: (+84) 961 366 238
Email:
- vphn@siglaw.com.vn
- vphcm@siglaw.com.vn
Headquarters: No.44/A32-NV13, Gleximco A, Le Trong Tan street, An Khanh, Hoai Duc, Ha Noi, Vietnam.
Southern branch: A9.05 BLOCK A, SkyCenter Building, 5B Pho Quang Street, Ward 2, Tan Binh District, Ho Chi Minh City, Vietnam.
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