HANOI DEPARTMENT OF JUSTICE
TLK LAW FIRM

On April 27, 2023, the Prime Minister issued Decision 11/2023/QD-TTg stipulating that large value transactions must be reported to the State Bank. 

=> See more: Amending regulations on the State's investment credit capital plan

In the Law on Prevention and Combat of Money Laundering 2022, it can be understood that a large value transaction that must be reported is a transaction in cash or foreign currency in cash made one or more times in a day, with a total value equal to or exceeding the regulations.

Accordingly, the following reporting subjects are responsible for reporting to the State Bank of Vietnam when conducting large value transactions that must be reported:

(1) The reporting entity is a financial institution licensed to perform one or more of the following activities:

- Accepting deposits;

- Loans;

- Financial leasing;

- Payment services;

- Payment intermediary services;

- Issuing negotiable instruments, bank cards, money transfer orders;

- Bank guarantees, financial commitments;

- Providing foreign exchange services and monetary instruments on the currency market;

- Stockbroker; securities investment consulting, securities underwriting;

- Securities investment fund management; securities investment portfolio management;

- Life insurance business;

- Money change.

(2) Reporting subjects are organizations and individuals doing business in relevant non-financial industries and professions according to the provisions of law that carry out one or several of the following activities:

- Trading in games with prizes, including: electronic games with prizes; games on telecommunications networks and the Internet; casino; Lottery; place a bet;

- Real estate business, except real estate leasing and subleasing activities and real estate consulting services;

- Trading in precious metals and gemstones;

- Providing accounting services; providing notary services; Providing legal services by lawyers and law-practicing organizations;

- Providing services for establishing, managing and operating businesses; providing director and company secretary services to third parties; provides legal agreement services.

Pursuant to the Law on Prevention and Combat of Money Laundering 2022, it is stipulated that reporting subjects are responsible for reporting to the State Bank of Vietnam when conducting large value transactions that must be reported.

tu-01-12-2023-giao-dich-tu-400-trieu-dong-tro-len-phai-bao-cao-ngan-hang-nha-nuoc

Photo 1. From December 1, 2023, transactions of 400 million VND or more must be reported to the State Bank_Hotline: 097 211 8764

On April 27, 2023, the Prime Minister issued Decision 11/2023/QD-TTg stipulating that large value transactions must be reported to the State Bank.

Accordingly, from December 1, 2023, the above reporting subjects when conducting transactions with a large value of 400,000,000 (four hundred million) VND or more must report to the State Bank.

Decision 11/2023/QD-TTg takes effect from December 1, 2023.

=> See more: Reducing loan interest rates at the request of the State Bank

tu-01-12-2023-giao-dich-tu-400-trieu-dong-tro-len-phai-bao-cao-ngan-hang-nha-nuoc

Photo 2. Free legal advice _ Hotline: 0972118764

Socio-Economic Summary Department - TLK Law Company Limited

According to thuvienphapluat.vn

Dear readers, TLK Law Company Limited, in addition to providing readers with useful intellectual information about economic, cultural and social life, we are also an organization providing legal services; Professional accounting - tax and trade promotion with many years of experience.

With the desire to fulfill social responsibility, if readers need advice on issues related to the Law, please contact us at hotline: 097 211 8764 to get advice from a lawyer. Direct consultation (completely free consultation).

WRITE YOUR COMMENT:

CONTACT SERVICE PROVIDER (Please click the button below to select service package)

LEGAL CONSULTATION PROGRAM

VIEW MORE

OUT STANDING SERVICES THAT TLK PROVIDES

NEW POSTS

TOP REASONS WHY TO INVEST IN VIETNAM YOU SHOULD KNOW

TOP REASONS WHY TO INVEST IN VIETNAM YOU SHOULD KNOW

TOP REASONS WHY TO INVEST IN VIETNAM YOU SHOULD KNOW Vietnam has established itself as a stable, rapidly developing, and high growth destination for international business and foreign investment. Its numerous positive business conditions include a stable political system, consistent track record of high performing economic and market growth, ample workforce...

KNOWLEDGE – ENTERTAINMENT

TLK LAW FIRM
Operation license No: 01021852/TP/DKHĐ issued by Hanoi Department of Justice
Legal Consulting Call Center 24/7
CALL NOW: +84 969 760 195
For benefis of community - Free Consulting
NUMBER OF VISIT
Total hits: 3,852.116
Views of the day: 18.858
Watching: 98
popup

Số lượng:

Tổng tiền:

zalo