Headlines 20/11/2017 10:45 SA

Procedures for registration of foreign exchange transactions in the petroleum industry

Kiều Nga

The Decree No. 124/2017/ND-CP , which prescribes outward investments in the petroleum industry, provides instructions for procedures for registration of foreign exchange transactions regarding outward investments in the petroleum industry, including the following details:

- In terms of the registration process or formality: Investors will be required to submit their applications for registration of foreign exchange transactions, whether directly or by post, to the State Bank of Vietnam.

In the case that such applications are found insufficient, within the duration of 05 days of receipt, the State Bank of Vietnam will send a request for any supplementation.

- In terms of the processing duration: 10 days of receipt of all required documents, the State Bank of Vietnam will give a confirmation or refuse to give a confirmation of registration.

In case of refusal, the State Bank of Vietnam must give investors a written explanation for such refusal.

To know the detailed set of documents to be submitted to apply for registration of foreign exchange transactions, please read more at paragraph 1 Article 21 of the Decree No. 124/2017/ND-CP which is set to commence on January 1, 2018.

>> CLICK HERE TO READ THE ARTICLE IN VIETNAMESE

 

More headlines

Address: 17 Nguyen Gia Thieu street, Ward 6, District 3, Ho Chi Minh City, Vietnam.
Phone: (+84)28 3930 3279 (06 lines)
Email: info@ThuVienPhapLuat.vn

Copyright© 2019 by THƯ VIỆN PHÁP LUẬT
Editorial Director: Mr. Bui Tuong Vu

DMCA.com Protection Status