Procedures for Registration, Recognition, and Termination of Membership at the International Financial Center in Vietnam

1. Member Registration at the Center

a) In case the investor registers a legal entity as a Member, the investor shall submit a dossier to the Operating Body to perform Member registration. For legal entities that are enterprises, the Member Registration Certificate is simultaneously the Enterprise Registration Certificate, except for cases prescribed in Clauses 4, 5, and 6, Article 10 of Resolution No. 222/2025/QH15.

b) Upon registering as a Member, investors must meet standards regarding financial capacity and reputation, and have a field of operation suitable to the development orientation of the International Financial Center as prescribed by the Operating Body.

2. Order and procedures for Member registration

a) Organizations and enterprises shall submit dossiers to the Operating Body to perform Member registration via one of the following methods: Directly at the Operating Body; via postal service; via the Member Registration and Recognition System.

b) The Operating Body shall review Member registration dossiers according to standards regarding financial capacity, reputation, and fields of operation suitable to the development orientation of the International Financial Center.

c) Within 07 working days from the date of receiving the Member registration dossier, the Operating Body shall issue the Member Registration Certificate. In case of refusal, the Operating Body shall issue a written notice to the organization or enterprise stating clearly the reasons for refusal.

d) The dossier requesting Member registration includes: A written request for Member registration and an explanation regarding compliance with standards regarding financial capacity, reputation, and having a field of operation suitable to the development orientation of the International Financial Center issued by the Operating Body.

3. Order and procedures for Member recognition

a) Organizations and enterprises shall submit dossiers requesting Member recognition to the Operating Body via one of the methods prescribed in Point a, Clause 2 of this Article.

b) The Operating Body shall review dossiers requesting Member recognition according to conditions prescribed in Clause 2, Article 10 of Resolution No. 222/2025/QH15.

c) Within 05 working days from the date of receiving the dossier requesting Member recognition, the Operating Body shall issue the Member Recognition Certificate. In case of refusal, the Operating Body shall issue a written notice to the organization or enterprise and state clearly the reasons for refusal.

d) The dossier requesting Member recognition includes: A written request for Member recognition and an explanation and accompanying documents regarding compliance with criteria and conditions prescribed in Clause 2, Article 10 of Resolution No. 222/2025/QH15.

4. Termination of Member status

Organizations and enterprises shall have their Member status terminated in the following cases:

a) The organization or enterprise voluntarily decides to terminate Member status;

b) The Member fails to meet standards regarding financial capacity or reputation and does not have operations suitable to the development orientation of the International Financial Center as prescribed in Point b, Clause 1 of this Article;

c) Upon request of the Supervisory Body when the Member violates regulations of Vietnamese law or international treaties of which Vietnam is a member during the process of inspection, examination, and supervision by the Supervisory Body;

d) The Member has its License for establishment and operation in the securities or insurance sector revoked, or has its Member Registration Certificate or Operation License for conditional business lines in other sectors revoked;

dd) Members that are commercial banks or foreign bank branches shall have their Member status terminated only in case of License revocation as prescribed in the Decree on licensing of establishment and operation of banks, foreign exchange management, anti-money laundering, counter-terrorist financing, and countering the financing of proliferation of weapons of mass destruction at the International Financial Center.

5. Order and procedures for termination of Member status

a) For the case prescribed in Point a, Clause 4 of this Article, within 02 working days from receiving the written request for self-termination of Member status, the Operating Body shall decide to terminate Member status and notify relevant agencies.

b) Within 15 days prior to the decision to terminate Member status, the Operating Body shall notify the Member in writing or via email for cases prescribed in Points b and c, Clause 4 of this Article.

c) Upon termination of Member status, organizations and enterprises must continue to perform rights and obligations with relevant parties arising during the time of being a Member and shall not be entitled to preferential policy mechanisms under Resolution No. 222/2025/QH15 and guiding documents from the date of termination. After the time of having Member status terminated, organizations and enterprises must perform rights and obligations according to current legal regulations.

The registration, recognition, and termination of Member status are carried out on the Member Registration and Recognition System prescribed in Article 5 of this Decree. Members must have their headquarters at the International Financial Center and must maintain the headquarters throughout the process of operation. Members investing in sectors belonging to the List of conditional business investment sectors must carry out procedures for granting Operation Licenses or Licenses qualified for operation before operating in the International Financial Center.

6. Conclusion

In summary, the procedural framework for the Vietnam International Financial Center demonstrates a strong commitment to administrative reform, offering a swift processing time of just 5 to 7 working days for registration and recognition. By integrating the Member Registration Certificate with the Enterprise Registration Certificate, the regulations significantly reduce entry barriers for new investors.

However, maintaining this status requires strict adherence to financial capacity standards and operational compliance throughout the project's lifecycle. Investors and organizations are advised to thoroughly prepare their dossiers to ensure eligibility for the IFC's preferential policies and to avoid any risks of membership termination.

Please click Decree No. 324 for more information.

The information contained in this article is general and intended only to provide information on legal regulations. DB Legal will not be responsible for any use or application of this information for any business purpose. For in-depth advice on specific cases, please contact us.

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