Foreign investors and foreign depository certificate issuers shall be obliged to declare, pay and settle taxes, fees, charges, and service prices related to securities activities in Vietnam in line with the provisions of Vietnamese law.
In addition, foreign investors and groups of related foreign investors must fulfill the obligation to report ownership and disclose information about securities transactions according to the law on information disclosure on the stock market.
Besides, the circular clearly stipulates obligations in providing services for foreign investors. Accordingly, securities companies, securities investment fund management companies, branches of foreign fund management companies in Vietnam, economic organizations with foreign investors holding more than 50 percent of charter capital, when providing services for foreign investors, must ensure full compliance with legal regulations on securities and stock market.
When providing services and participating in securities auctions as authorized by foreign investors, securities companies, securities investment fund management companies, branches of foreign fund management companies in Vietnam must separate trading orders and investment instructions of foreign investors from trading orders and investment instructions of domestic investors (if any) and their own, ensure compliance with legal regulations on the rate of foreign ownership in Vietnamese enterprises, and take responsible for a fair and reasonable allocation of assets to each customer following the signed contract.
The circular will take effect on August 16, 2021.
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