Foreign citizens and organizations are allowed to contribute assets, along with Vietnamese peers to establish funds in Việt Nam.

A Vietnamese fund’s founding board must ensure that the assets they contribute to it must be equivalent to at least VND 5 billion (if the fund operates nationwide or inter-provincial), VND 1 billion (provincial level), VND 100 million (district level), or VND 20 million (at communal level).

For a fund established by Vietnamese and foreign individuals and organizations, the founding board must ensure that the assets they contribute to it must be equivalent to at least VND 7 billion (for funds operate nationwide), VND 3 billion (provincial level), VND 1 billion (district level) or VND 500 million (communal level).

The decree will come into force from June 1, 2012.

By Ngọc Vân