Decision No. 139/1999/QĐ-TTg stipulates the proportion of foreign participation in the Vietnamese securities market, applicable to foreign organizations and individuals. Notably, it sets a maximum limit of 20% for shares and 40% for bonds held by a single foreign organization or individual.
适用范围
Foreign organizations and individuals participate in the Vietnamese securities market.
要点
- Foreign organizations and individuals may hold up to 20% of the total number of circulating shares of an issuing entity and 40% of the total number of circulating bonds of an issuing entity.
- A foreign organization may hold up to 7% of shares and 10% of bonds, while a foreign individual may hold up to 3% of shares and 5% of bonds.
- The maximum foreign capital contribution ratio in a joint venture securities company is 30%.
🌐 本文件的社会影响
- Reduce investment risks for domestic organizations and individuals through limits on foreign participation ratios.
- Enhance competition and develop the Vietnamese securities market.
- It may lead to a decrease in the number of domestic enterprises holding shares or bonds.
❓ 常见问题
What are the limits on the percentage of shares and bonds that foreign organizations and individuals can hold?
A foreign organization may hold up to 20% of the total number of circulating shares of an issuing entity and 40% of the total number of circulating bonds. A foreign individual may hold up to 3% of shares and 5% of bonds.
What is the foreign capital contribution ratio in a joint venture securities company?
The maximum foreign capital contribution ratio in a joint venture securities company is 30%.
When does this decision take effect?
This decision takes effect 15 days from the date of signing.
What regulations must foreign organizations and individuals participating in the Vietnamese securities market comply with?
Foreign organizations and individuals may hold up to 20% of the total number of circulating shares of an issuing entity and 40% of the total number of circulating bonds. Additionally, the foreign capital contribution ratio in a joint venture securities company shall not exceed 30%.
To which types of entities does this decision apply?
This decision applies to the participation of foreign organizations and individuals in the Vietnamese securities market through the holding of shares, bonds, and capital contributions in joint venture securities companies.
全文
DECISION OF THE PRIME MINISTER
Regarding the proportion of foreign participation in the Vietnamese securities market
_____________________________
PRIME MINISTER
Pursuant to the Government Organization Law dated September 30, 1992;
Pursuant to Decree No. 48/1998/NĐ-CP dated July 11, 1998 of the Government on Securities and the Securities Market;
Pursuant to the proposal of the Chairman Within 10 working days from the date of receipt of the dossier as mentioned in Sub-clause b, Clause 1, Article 3 above, the Ministry of Foreign Affairs will review and submit to the competent authority for decision (Issues exceeding the Ministry of Foreign Affairs' jurisdiction will be referred to the Prime Minister for consideration and decision).hereby approves the State Securities Commission,
DECISION:
Article 1. Foreign organizations and individuals may hold up to 20% of the total number of outstanding shares of an issuing organization, investment fund certificates of an investment securities fund, wherein a foreign organization may hold up to 7% and a foreign individual may hold up to 3%.
Article 2. Foreign organizations and individuals may hold up to 40% of the total number of outstanding bonds of an issuing organization, wherein a foreign organization may hold up to 10% and a foreign individual may hold up to 5%.
Article 3. The maximum proportion of foreign capital contribution in a joint venture securities company is 30%.
Article 4. This Decision shall take effect fifteen days from the date of signature.
Article 5. The Ministers, Heads of ministerial-level agencies, Heads of agencies under the Government, Chairpersons of provincial People's Committees directly under the Central Government are responsible for implementing this Decision.
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