The Circular No. 03/2025/TT-NHNN is composed of 12 Articles, specifically as follows:
- Article 1 and Article 2: stipulating the scope of application; the subjects of application.
- Article 3 and Article 4: stipulating the general principles; and the transactions requiring the opening of an indirect investment account.
- Article 5 and Article 6: stipulating the opening and use of VND bank accounts for indirect investment activities.
- Article 7, Article 8 and Article 9: stipulating the obligations of the licensed banks; the obligations of the foreign investors; and the responsibilities of the SBV regional branches.
- Article 10, Article 11 and Article 12: stipulating the reporting requirements; the entry into force; and the implementation arrangements.
The new Circular will enter into force on June 16, 2025.
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