Foreigners Allowed to Set up Micro Financial Institutions
The State Bank of Vietnam has allowed foreign investors to establish micro financial institutions in Vietnam.
Micro financial institutions must operate under liability companies, responsible for liabilities within their registered capital. They must receive license for establishment from their countries before getting approval from Vietnam.
At present, domestic investors are allowed to set up micro financial institutions under one member or two member liability companies.
To get permission, micro financial institutions must have feasible study for the first three years of operations. (Saigon Economic Times)
Vietnamese
