Documents and procedures for registering foreign exchange transactions to invest abroad

Registering foreign exchange transactions to invest abroad is a mandatory procedure for investors involved in overseas investment activities from Vietnam. This process helps manage cash flow and comply with foreign exchange regulations of the State Bank of Vietnam. Long Phan’s article below will provide detailed information about documents and procedures for registering foreign exchange transactions to invest abroad, helping investors clearly understand the steps to follow according to current legal regulations.

What is foreign exchange trading?

Foreign exchange trading is the activity of buying, selling and exchanging international payment instruments on the foreign exchange market. This means of payment includes foreign cash, foreign currency accounts, checks, drafts and other payment instruments denominated in foreign currency.

According to the provisions of Decree 70/2014/ND-CP, foreign exchange transactions include buying, selling, financial leasing, lending, borrowing and other transactions related to foreign exchange. These transactions must comply with regulations on foreign exchange management of the State Bank of Vietnam.

For investment activities abroad, investors need to register for foreign exchange transactions to be allowed to transfer investment capital abroad and repatriate profits. This is a mandatory requirement to manage capital flows and monitor cross-border investment activities.

Procedures for registering foreign exchange transactions to invest abroad

Application for registering foreign exchange transactions to invest abroad

According to Article 9 of Circular 12/2016/TT-NHNN, the registration dossier for foreign exchange investment transactions abroad includes the following documents:

• Application for registration of foreign exchange transactions related to overseas investment activities according to the form specified in Appendix 1 issued with Circular No. 12/2016/TT-NHNN.
• Copy of Investment License or Outward Investment Certificate or Outward Investment Registration Certificate issued by a competent Vietnamese agency.
• Copy and Vietnamese translation of the investment approval or licensing document issued by the competent authority of the investment-receiving country or documents proving the right to invest in the investment-receiving country in accordance with regulations of the law of the investment receiving country.
• Document confirming the opening of the investment capital account by the credit institution.
• Written confirmation from an authorized credit institution of the amount of money the investor has transferred abroad before being granted the Certificate of overseas investment registration to meet costs for investment project formation activities. investing abroad in accordance with the provisions of law in cases where investment capital has been transferred abroad before being granted a Certificate of registration of investment abroad.
• Document explaining the need to transfer investment capital abroad in Vietnam Dong in case of transferring investment capital abroad in Vietnam Dong.

Investors need to fully prepare the above documents and submit them to the competent authority to be considered for foreign exchange transaction registration. Providing complete and accurate documents will help the processing process be quick and convenient.

Agency receiving documents

Pursuant to Article 8 of Circular 12/2016/TT-NHNN, the agency receiving registration documents for foreign exchange investment transactions abroad is regulated as follows:

• For investors who are credit institutions: The State Bank of Vietnam (SBV) will receive and confirm the registration.
• For investors who are not credit institutions: The State Bank branch in the province or city where the investor has its headquarters or permanent residence will receive and confirm the registration.

Determining the dossier-receiving agency helps make the processing process convenient and suitable to the characteristics of each type of investor. Investors need to identify the correct receiving agency to submit documents at the right place, avoiding delays in the processing process.

Procedure for registering foreign exchange transactions to invest abroad

Pursuant to Article 13 of Circular 12/2016/TT-NHNN, the procedure for registering foreign exchange transactions to invest abroad is carried out as follows:

Step 1: Investors submit applications directly or by mail to the State Bank of Vietnam/State Bank of Vietnam branch.

Step 2: Within 5 working days from the date of receiving the dossier, the State Bank of Vietnam/State Bank of Vietnam branch will check and notify additional requests if the dossier is incomplete.

Step 3: Within 10 working days from the date of receipt of complete and valid documents, the State Bank of Vietnam/State Bank of Vietnam branch will confirm the registration or refuse to confirm, clearly stating the reason. .

Investors need to comply with this order and prepare complete and accurate documents for quick processing. In case additional documents are needed, investors should do so promptly to avoid prolonging processing time.

Application form for registering foreign exchange transactions to invest abroad

The application form for registering foreign exchange transactions to invest abroad is specified in Appendix No. 01 issued with Circular 12/2016/TT-NHNN. This form includes the following basic information:

• Information about investors: Name, address, phone number, fax, email.
• Information about investment projects: Project name, location, investment field, investment term.
• Information about Overseas Investment Registration Certificate.
• Amount registered to be transferred abroad and money transfer method.
• Investment capital account at an authorized credit institution.

Investors need to completely and accurately fill in the information required by the application form. Declaring correct and complete information will help competent authorities review and process documents quickly and effectively.

Support and consulting services for foreign exchange investment registration abroad at Long Phan

Long Phan provides comprehensive consulting and support services in the process of registering foreign exchange transactions to invest abroad. With a team of experienced experts, we are committed to accompanying investors from preparing documents to completing registration procedures.

Long Phan’s services include:

• Consulting on the process and requirements for registering foreign exchange transactions investing abroad.
• Support in drafting and preparing necessary documents and papers such as license applications, investment plans, and related documents.
• Check the validity and completeness of the application before submitting it to the State Bank of Vietnam/State Bank of Vietnam branch.
• Representing customers to submit foreign exchange investment registration documents abroad, monitor the processing process and work with the State Bank of Vietnam/State Bank of Vietnam branch.
• Support customers to explain or supplement documents upon request from the State Bank of Vietnam/State Bank of Vietnam branch.
• The representative receives the investment license and hands it over to the customer.
• Guide customers in fulfilling reporting obligations and complying with legal regulations during the process of investing abroad.
• Consulting and supporting customers to solve problems that arise during the investment process after being licensed.

Registering foreign exchange transactions to invest abroad is an important procedure, ensuring cross-border investment activities of Vietnamese investors. To receive professional and effective support during the registration process, please contact Long Phan via hotline. 0906735386. We are ready to advise and support you in completing the procedure quickly and according to regulations.