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When should an offshore loan be announced or registered?

When a company established in Vietnam borrows money from an organization in a foreign country, the loan is considered as an offshore loan. The State Bank of Vietnam (“SBV”) controls offshore loans as a part of its control on foreign currency exchange.

If the term of the offshore loan is under 12 months (short-term), the borrower has an obligation to announce the information about such loan to the SBV. When the term is longer than 12 months or if a short-term loan is extended or not repaid in time, procedures for registration must be conducted. The term is measured from the date of the initial drawdown to the date of the full repayment.

Periodic reports are also mandatory to keep the authority updated on the offshore loan repayment schedule and scheme.

How to announce or register an offshore loan?

• Contact us via phone, email or create a CRM account to define your investment requirements and objectives with our lawyers.
• Whenever possible we will meet in person to define your legal strategy in dept.
• Our legal services will notably include reviewing the loan contract to ensure compliance with Vietnam’s regulations, submit the documents to the State Bank of Vietnam and assist you to provide detailed explanation on the loan when required.
• We will provide you with the list of required information and documents, as well as the application dossier drafted and translated by us into Vietnamese and English languages .
• At any time, you can access the CRM system to manage and keep a track of your legal services.