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Item
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Legal form
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Restriction
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Other conditions
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Note
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Issuance agency
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1
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Commercial bank
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(1) State-owned commercial bank;
(2) Joint-stock commercial bank;
(3) Joint-venture commercial bank;
(4) 100% foreign-owned commercial bank.
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(i) Joint-venture commercial banks (established in the form of limited liability companies with two or more members, having a foreign party, consisting of one or more foreign bank), contributing not more than 50% of charter capital of the bank, except for special cases approved by the Prime Minister);
(ii) 100% foreign-owned commercial banks (established in the form of one-member limited liability companies or limited liability companies with two or more members having at least one foreign bank holding more than 50% of the charter capital).
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Satisfying conditions of facilities, administrative system and feasible business plan in accordance with the law.
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For foreign investors: having total assets at least US$ 10 billion in the previous year (US$ 20 billion as establishing a branch) and other conditions of minimum capital safety ratio and safety assurance ratios according to international practice.
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The State Bank of Vietnam
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2
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Finance company/ Finance leasing company
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(1) State-owned company;
(2) Joint-stock company;
(3) Affiliate company of Credit Institution
(4) Joint-venture company;
(5) 100% foreign-owned company.
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Maximum 49% of charter capital of the joint-venture finance companies and minimum 30% of charter capital of joint-venture leasing finance companies contributed by the foreign party.
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The founding members are organizations or individuals having prestige and financial capability as provided by the State Bank;
The manager and administrator have full civil capacity and professional qualifications suitable for the operation of the company.
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The foreign investors must have permission from competent bodies of residential countries for conducting in finance or finance leasing in Vietnam, and having total assets over US$ 10 billion at the end of the preceding year.
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The State Bank of Vietnam
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3
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Securities company
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(1) Joint-stock company;
(2) Joint-venture company;
(3) 100% foreign-owned company.
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(i) The foreign party contributes a maximum of 49% of charter capital of the joint-venture companies
(ii) The foreign investors can establish 100% foreign-owned companies from January 11, 2012.
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Satisfying the conditions on facilities, technology for the operation; the management is required to have the Practitioner License.
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For foreign investors, only foreign securities trading institutions may contribute capital or purchase shares offered by to-be- establish securities companies in Vietnam.
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State Securities Commission of Vietnam
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4
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Fund management company
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(1) Joint-stock company;
(2) Joint-venture company.
(3) 100% foreign owned company.
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(i) The foreign party contributes a maximum of 49% of charter capital of the joint-venture company.
(ii) Foreign investors are allowed to establish 100% foreign owned company since January 11, 2012.
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Having a head office, facilities and equipment to serve securities trading activities; individuals in the positions of management and managing securities investment funds and securities portfolio must have Practitioner License.
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For foreign investors, only foreign securities trading institutions engaged in managing securities investment funds or foreign insurance business institutions may pool capital or purchase shares to establish securities investment fund management companies
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State Securities Commission of Vietnam
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5
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Public fund
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Contributed by at least 100 (one hundred) investors, regardless of professional securities investors, then established and managed by a fund management company along with other conditions in accordance with the law.
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State Securities Commission of Vietnam
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6
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Member fund
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Number of contributing members should not exceed over 30 members and only consisting of institutional members; established and managed by a fund management company
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State Securities Commission of Vietnam
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7
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Securities investment company
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(1) Joint-stock company;
(2) Joint-venture company.
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Director or general director and management personnel must obtain the securities Practitioner Licenses in case the securities investment company self-manages its investment capital.
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State Securities Commission of Vietnam
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8
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Insurance company
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(1) State-owned company;
(2) Joint-stock company;
(3) Mutual support insurance organization
(4) Joint-venture company;
(5) 100% foreign-owned company
(6) Insurance co-operative (from July 1, 2011).
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The administrator and manager must be qualified for the management, insurance profession and operation.
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The foreign insurance enterprise has been legally operating for at least ten (10) years, and has a minimum total assets of US$2 billion in the preceding year.
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Ministry of Finance
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9
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Insurance brokerage company
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(1) Joint-stock company;
(2) Joint-venture company;
(3) 100% foreign-owned company
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The foreign insurance brokerage enterprise has been legally operating for at least ten (10) years, and has generated profit for a period of three consecutive preceding years prior to its application for a license.
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Ministry of Finance
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Tiếng Việt
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