On May 7, 2025, VIE SEC said VIE GVT finalized circular 20/2025/TT-BTC on May 5, 2025, amending cir 51/2021/TT-BTC re foreign investment in Vietnam's stock market.
Eligible foreign investors may open indirect investment capital accounts at authorized custodian banks, while organizations issuing depository certificates abroad shall open indirect investment capital accounts to carry out issuance of depository certificates.
The circular is set to take effect on Jun. 20, 2025.
On Oct. 1, VIE GVT drafted circular re obligations of foreign investors.
VIE GVT proposed draft amendments to certain provisions of cir 51/2021/TT-BTC, re obligations of foreign investors and organizations in the Vietnamese stock market.
Follows VIE SEC Jul. 2021 issued circular on foreign activities in stock market, #110031.
Proposed Amendments
Amend article 3 clauses 1 and 3 to state that foreign investors must open an indirect investment capital account at an authorized custodian bank, for investment activities.
Any movement of funds for transactions, investments, and other related payments must be conducted through this indirect investment capital account.
Amend article 5A clause 3b to require a group of related foreign investors to designate one entity or individual to fulfill reporting and information disclosure obligations.
The designated representative or organization must submit notification of appointment to VIE SEC and the exchanges within 24 hours of the appointment's effectiveness.
Consultation Period
The consultation is open, but a consultation deadline has not been indicated.
May 2025 Circular Finalized
On May 7, 2025, VIE SEC said VIE GVT finalized circular 20/2025/TT-BTC on May 5, 2025, amending cir 51/2021/TT-BTC re foreign investment in Vietnam's stock market.
Eligible foreign investors may open indirect investment capital accounts at authorized custodian banks, while organizations issuing depository certificates abroad shall open indirect investment capital accounts to carry out issuance of depository certificates.
The circular is set to take effect on Jun. 20, 2025.
