• An Giang
  • Binh Duong
  • Binh Phuoc
  • Binh Thuan
  • Binh Dinh
  • Bac Lieu
  • Bac Giang
  • Bac Kan
  • Bac Ninh
  • Ben Tre
  • Cao Bang
  • Ca Mau
  • Can Tho
  • Dien Bien
  • Da Nang
  • Da Lat
  • Dak Lak
  • Dak Nong
  • Dong Nai
  • Dong Thap
  • Gia Lai
  • Ha Noi
  • Ho Chi Minh
  • Ha Giang
  • Ha Nam
  • Ha Tinh
  • Hoa Binh
  • Hung Yen
  • Hai Duong
  • Hai Phong
  • Hau Giang
  • Khanh Hoa
  • Kien Giang
  • Kon Tum
  • Lai Chau
  • Long An
  • Lao Cai
  • Lam Dong
  • Lang Son
  • Nam Dinh
  • Nghe An
  • Ninh Binh
  • Ninh Thuan
  • Phu Tho
  • Phu Yen
  • Quang Binh
  • Quang Nam
  • Quang Ngai
  • Quang Ninh
  • Quang Tri
  • Soc Trang
  • Son La
  • Thanh Hoa
  • Thai Binh
  • Thai Nguyen
  • Thua Thien Hue
  • Tien Giang
  • Tra Vinh
  • Tuyen Quang
  • Tay Ninh
  • Vinh Long
  • Vinh Phuc
  • Vung Tau
  • Yen Bai

Less multiple conditions for investment and business in finance (Part 1)

VGP - The Government issued Decree 151/2018/ND-CP dated November 7, 2018 amending and supplementing a number of decrees for investment and business conditions within the state management scope of the Ministry of Finance ("Decree 151").

December 14, 2018 1:30 PM GMT+7

Question: What are remarkable amendments and supplements as stipulated in Decree 151?

Answer: Decree 151 takes effect from the date of its promulgation and features the following:

Field of accounting and auditing

Decree 151 repeals the condition on obtaining the Certificate of Eligibility for audit service business along with four other conditions as stated in Decree 84/2016/ND-CP for an auditing Organization to be approved for auditing a unit related to the general public’s interests.

As opposed to Decree 174/2016/ND-CP and Decree 17/2012/ND-CP, foreign auditing and accounting enterprises are now exempted from three conditions, especially including the voluntary coverage of professional liability insurance for accountants and auditors practicing in Viet Nam.

In addition, the regulation that the representative for the organization’s capital contribution at an auditing limited liability company must be the auditor practicing in such audit company pursuant to Decree 17/2012/ND-CP has also been abolished by Decree 151.

Field of lottery and electronic prize games for foreigners

Decree 151 abrogates the previous provisions of Decree 78/2012/ND-CP on operation models, management and organization structure and standards of managers of lottery enterprises.

For the business of electronic prize games for foreigners, Decree 151 amends Decree 86/2013/ND-CP on the conditions that all business points of an enterprise must meet. In addition, Decree 151 also amends the conditions for any enterprise engaged in dealing in electronic prize games for foreigners to be granted the Certificate of business eligibility, including the conditions on registered business lines, requirements on managers, executives and business plan.

Field of credit rating

Annulling the regulation that a credit rating enterprise wishing to be granted the Certificate of business eligibility must have the Certificate of enterprise registration; undertake to implement professional processes; plans of business and personnel as stipulated in Decree 88/2014/NDCP.

At the same time, a number of conditions and criteria to become General Directors, members of the credit rating Committee, analysts are also cut./.  

(to be continued)