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| Profit from investment allowed to be transferred abroad |
| 22/Jun/2009 Intellasia | government Website |
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| 22 Jun, 2009 - 12:30:15 PM |
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Foreign investors are allowed to exchange the profit from investment into foreign currencies and then transfer abroad.
Also, they can buy into Vietnamese enterprises through purchasing shares of IPOs of joint stock companies and state owned enterprises that are being equitised.
All aforementioned interests of foreign investors are concerned in the regulation on foreign capital contribution and share purchase in local firms. The rule was approved by prime minister recently.
Under it, foreigners can buy back holding of members of limited companies, buy into limited companies to become new members, buy back capital of contributors in associated companies or private enterprises.
Foreign investors can trade on the stock market when their joint stock companies buy listed shares. They can use shares as collateral in credit relation, or trade these shares when joint stock companies go public.
Foreign holding ratio in Vietnamese enterprises in fields of service, commerce and service will comply with international agreements.
Foreign individuals or institutions only have the right to buy stake or contribute capital in local firms when having investment accounts at Vietnam's commercial banks, business license or similar documents. As for foreign individual investors particularly, they must have copy of valid passports.
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