Question:

Can you or someone at SBLaw provide me with an indication of the estimated time to gain approval for and the cost of forming an industry sector association in Finance and Banking.

Answer:

For setting up Sector Industry Association in Finance and Banking, we shall have to undergo two steps:

– Step 1: Setting up a council for supporting establishment of association. This step shall require for approval from Vietnam State Bank, Ministry of Finance and other ministries.

– Step 2: Setting up association. This step shall require for approval from Ministry of Home Affair.

We discussed this matters with Vietnam State Bank and Ministry of Finance already. They seem very cautious on this issue. They need you answer following question:

– What is the purpose of association?

– What are about specific activities of the association?

– Who shall joint the association?

 

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