Apply for a foreign loan online in Vietnam

Procedures for registration of foreign loans through online forms shall be carried out at the State Bank in the following order:

Steps to apply for a foreign loan online in Vietnam

Step 1: Sign up for a business online account

• The borrower accesses the website: https://qlnh-sbv.cic.org.vn/qlnh/ and fills in the e-declaration form applying for an access account according to the instructions on the Website, prints the declaration from the Website, signs and stamps;
• The borrower sends the declaration via postal service or directly at the State Bank
• Within 03 working days from the date of receipt of the declaration of application for an access account of the user with complete and valid information, the State Bank shall approve and grant the access account via the email box registered by the user. In case of refusal to grant an access account, there must be an online response clearly stating the reason.

Step 2: Sign in to your account

• Enterprises access the website https://qlnh-sbv.cic.org.vn/qlnh/ and log in to the account according to the account information granted by the State Bank.

Step 3: Make a foreign loan application

• Create an account of the enterprise or unit that declares loan application information.
• After completing the loan application at the account, the business submits the application by online.
• The enterprise prints the loan application form rendered from the system, signs and stamps, then submit the loan registration dossier to the State Bank.

Application documents for foreign loans in Vietnam

• The loan application form has been signed and stamped;
• Copy of the borrower’s legal documents: Establishment license, Enterprise Registration Certificate, Cooperative Registration Certificate, Cooperative Union and amended and supplemented documents (if any) or other equivalent documents.
• A copy or original document proving the loan propose includes:

+ For loans for the implementation of investment projects: Investment certificate, Investment registration certificate or Decision approving investment policies in accordance with the provisions of investment law and current provisions of relevant laws.

+ For loans for implementation of production and business plans other than investment projects: The plan on use of foreign loans shall be approved by competent authorities in accordance with the Law on Investment, the Law on Enterprises and the enterprise’s charter, the Law on Cooperatives and the charter of cooperatives and other relevant legal documents;

+ For loans to restructure foreign debts of the borrower: The plan for restructuring foreign debts of the borrower shall be approved by a competent authority in accordance with the Law on Enterprises and the enterprise’s charter, the Law on Cooperatives and the charter of cooperatives and other relevant legal documents;

+ For short-term loans with extended principal repayment period where the total term of the loan is over 01 year and short-term loans without extension agreement but outstanding principal (including interest debts entered principal) at the time of 01 year from the date of first capital withdrawal:  Report on the initial use of short-term foreign loans meeting regulations on conditions for short-term foreign loans (enclosed with supporting documents such as the borrower’s plan for using foreign loans, plans for restructuring foreign debts);

• Foreign language copy and Vietnamese translation of the foreign loan agreement and agreement on extension of short-term loans into medium and long-term loans (if any).
• Foreign language copy and Vietnamese translation of the guarantee commitment (letter of guarantee, guarantee contract or other form of guarantee commitment) in case the loan is guaranteed.
• A copy of the document of the competent authority approving and approving the foreign loan in accordance with the law on assignment and decentralization of the exercise of rights, responsibilities and obligations of the state owner and the state owner’s representative agency according to regulations on management and use of state capital at enterprises for borrowers being domestic enterprises water (not applicable to loans of commercial banks where the State Bank is the owner’s representative agency and has been approved and approved by the State Bank in accordance with regulations on management and use of state capital at enterprises).
• Report on compliance with regulations of the State Bank on limits and safety ratios in operations of credit institutions and branches of foreign banks according to regulations on conditions for self-borrowing and self-payment foreign loans at the end of the last 03 months before the date of signing the loan agreement to the end of the latest month before the time of sending complete dossiers of registration of foreign loans according to the form specified in Appendix 02 promulgated together with this Circular or documents proving the non-compliance with the provisions of law on credit grant limits and safety ratios approved by the Prime Minister or the Governor of the State Bank in accordance with law ( if any) for borrowers being credit institutions or branches of foreign banks.
• Confirmation of the bank providing account services on the situation of capital withdrawal and repayment (principal, interest) up to the time of loan registration (applicable to borrowers opening loan accounts or repaying foreign debts at banks providing account services) in the following cases:

+ In case of foreign loans to restructure foreign debts: Documents of the bank providing account services of the borrower on the situation of capital withdrawal and repayment for foreign loans will be restructured from foreign loan sources;

+ In case the portion of foreign investors’ capital transferred into Vietnam used to meet investment preparation expenses is converted into medium- and long-term foreign loans of foreign direct investment enterprises according to regulations on foreign direct investment in Vietnam:  Foreign language copy and Vietnamese translation of documents of the bank providing account services of the lender on receipts and expenditures related to the formation of the loan;

+ In case a short-term loan is extended the principal repayment period but the total term of the loan is over 01 year and the short-term loan does not have an extension agreement but there is a balance of principal (including interest debt entered into the principal) at the time of 01 year from the date of the first capital withdrawal:  Documents of the bank providing account services of the borrower on the status of capital withdrawal and repayment for the initial short-term foreign loan;

• Documents and documents proving that profits are lawfully divided in Vietnamese dong from direct investment activities of the lender being a foreign investor contributing capital at the borrower and certification of the bank providing account services on the situation of profit sharing and transfer to the lender’s home country in order to prove the loan disbursement for in case of foreign loans in Vietnamese dong according to regulations on conditions for foreign loans in Vietnamese dong.
• A written explanation on the demand for foreign loans in Vietnamese dong, in case of foreign loans in Vietnamese dong, must be approved by the Governor of the State Bank in accordance with current regulations of the State Bank on conditions for foreign loans in Vietnamese dong.

Competence to confirm loan registration in Vietnam

State Bank of Vietnam (Foreign Exchange Management Department):

Confirm registration and change registration for loans with loan turnover exceeding 10 (ten) million USD (or other foreign currency of equivalent value) and foreign loans denominated in Vietnamese dong.

The State Bank’s branches of provinces and centrally-run cities where the Borrower’s head office is located:

Carry out the confirmation of registration, registration of changes for loans over up to 10 (ten) million USD (or other foreign currency of equivalent value).

Foreign loan registration service of Viet An Law Firm

• Advising on the order and procedures for applying for foreign loans;
• Advising on foreign loan contracts;
• Consulting, drafting dossiers for registration of foreign loans;
• Advising on converting foreign loans into contributed capital of enterprises;
• Consulting foreign loan conversion for enterprises;
• Representing enterprises in submitting dossiers, monitoring and completing procedures for registration of foreign loans;
• Advising on procedures for reporting statistics on foreign loans;
• Comprehensively advise on issues arising related to foreign loans of enterprises.