Clifford Chance
Vietnam: Offshore borrowings
10 October 2014
The State Bank of Vietnam recently issued two circulars (Circular 12 and 25) to regulate offshore borrowings without a Government guarantee. These circulars apply to any loan facility whereby the borrower is a resident and the lender is a non resident. These circulars also apply to resident borrowers that are credit institutions including branches of offshore banks. This briefing highlights key changes under Circular 12 and 25.
