Loan Reporting
Funding through foreign loan is the most common vehicle to fulfil the needs of working capital of Vietnam-based enterprise for operation, considering the context of Vietnam’s economic development.
There are three types of foreign loans, in particulars: (i) short-term loan, (ii) long-term loan and (iii) loan under deferred imported goods.
Strictly controlled by the State Bank of Vietnam (SBV), Vietnam-based enterprise (here refer as “The Borrower”) engaging in foreign loan with overseas party (here refer as “The Lender”) is required to comply with statutory requirements, in terms of document achievement, loan registration where applicable and periodical reporting.
REGISTRATION OF LOAN ACCOUNT FOR REPORTING
Loan reporting is submitted online via SBV portal on monthly basis. Failing tot comply on online loan reporting may lead to penalty from SBV and constitutes challenge from the respective authority when undertaking loan registration thereafter.
The Borrower is responsible for such loan reporting and required to register account for periodical report.
The application is prepared and submitted directly to respective SBV where the Borrower is located, including:
- The registration form
- The loan agreement
- Legal document of the company
- Other supporting document
The result of this step is the account (ID and password) granted to the Borrower for onward periodical reporting.
MONTHLY REPORTING
Loan reporting is on monthly basis, following Article 41, Circular 12/2022 issued by SBV on 30 Sep2022.
The due date of monthly loan report is on 5th date of the following month. Failing to compliance may lead to penalty from SBV.