¤ Decree No. 135/2015/ND-CP of the Government dated 31 December 2015 guiding indirect overseas investment
- For the first time, Vietnam has issued guidelines on indirect overseas investment. Decree 135 provides that Vietnamese individuals are only allowed to indirectly invest overseas by participation in programs of share bonus issued in foreign countries. Whilst Vietnamese economic organizations, by itself or through trustee, can directly sell and purchase shares, other securities and securities investment fund certificates in foreign countries and authorize to other intermediate financial institutions for investment in foreign countries.
- Organizations may use its available foreign currency sources and purchase from credit institutions within the limit registered at the State Bank of Vietnam for such investment. However, the trustee can only use its available foreign currency sources.
- In addition, the investors are prohibited from using its loan from credit institutions in VND to purchase foreign currency for such indirect overseas investment.
- Decree 135 has also stipulated the conditions for obtaining the related certificate/approval for indirect overseas investment.