Regulation on non cash payment on specific transactions in Vietnam
Regulation on non cash payment on specific transactions as per Decree 222/2013/ND-CP dated 31 Dec 2013 of Vietnamese Government effective from 1 March 2014
Post date: 07-01-2014
5,296 view(s)
Vietnamese Government has issued Decree 222/2013/ND-CP dated 31 Dec 2013 to replace 161/2006/NĐ-CP dated 28 Dec 2006 on payment in cash.
Regulation on non cash payment on specific transactions in Vietnam
This Decree prescribes that organizations and individuals are not settled payment in cash in the following cases:
a. Organizations use state budget and state capital, except for cases stipulated by Finance Ministry and State Bank of Vietnam.
b. Securities transactions on stock exchange and securities transactions registered, deposited in the Securities Depository Center being conducted out of trading system of securities exchange.
c. Financial transactions of enterprises include capital contribution, sale and purchase of shares, transfer of shares in the enterprise, lending and borrowing between enterprises.
d. Loan disbursement in cash for client by credit institutions and foreign bank branches, except for cases in accordance with guidance of State Bank of Vietnam.
Credit institutions and foreign bank branches agree with clients about cash withdrawal and advance notice before large cash withdrawal
Credit institutions, foreign bank branches set fees for cash services and publicize it in accordance with law.
This Decree will be in force from 1 March 2014
Lawyervn.net
Relate News
- › Foreigners are not permitted to deposit foreign currency cash in saving accounts at credit institutions
- › Labor Unión of Vietnam Banks shall be the directly superior labor to foreign banks which have not established labor unión
- › Realization of secured property
- › The carrying of gold by individuals upon entry into and exit from the Vietnam
- › Declaring customs on the transport of cash, precious metals, gemstones and negotiable instruments across the borders
- › Regulation on the proportion of purchasing shares of Vietnamese commercial bank by foreign investors
- › The cases are permitted to use of foreign exchange within the territory of Vietnam
- › Circular regulating lending in foreign currency to resident borrowers in Vietnam
- › Not lending for purchase of shares from the shareholders of other credit institutions secured by the shares purchased as per Official Dispatch 8440/NHNN-TTGSNH
- › Bad debt ratio over 3% must sell the bad debts to AMC
comment(s) (0)
Online supports
-
Free Consultations
+84918171098
Services
Partners
![Get your e-visa online](<a href="https://www.ivisa.com/apply-online?utm_source=lawyervn"><img alt="iVisa.com" src="https://ivisa.s3.amazonaws.com/affiliate/220200generic.jpg" /></a> "Get your e-visa online")
Send your comment