Vietnam State Securities Commission publishes Ministry of Finance amendments requiring a single indirect investment capital account and electronic reporting on FIMS

The Vietnam State Securities Commission has released details of a Ministry of Finance circular amending the existing guidance on obligations for organisations and individuals conducting foreign investment activities in Vietnam’s securities market. The amendments tighten how certain foreign investors must manage cash flows for securities investments and shift reporting onto an electronic channel. Under the circular, foreign investors that fall within the category required by foreign exchange rules to open an indirect investment capital account must open that account at one custodial bank authorised to conduct foreign exchange and route all transfers for securities transactions and related payments through it, including receipt and use of dividends and interest, foreign currency purchases for remittance abroad where applicable, and other related transactions. Organisations issuing depository receipts overseas must also open an indirect investment capital account at one such custodial bank to conduct issuance and cancellation of depository receipts and other related activities, while the opening, closing, use, renaming and management of the account follows foreign exchange management law. The circular also introduces an electronic reporting regime via the State Securities Commission’s Foreign Investment Management System. The amendments take effect from 20 June 2025.