How to identify professional stock investors

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1. Who is a professional stock investor?

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(i) Commercial banks , foreign bank branches, financial companies, insurance business organizations, securities companies, securities investment fund management companies, securities investment companies , securities investment funds, international financial institutions, off-budget state financial funds, and state financial institutions may purchase securities in accordance with relevant laws;

(ii) Companies with contributed charter capital of over 100 billion VND or listed organizations or organizations registered for trading;

(iii) Persons with securities practice certificates;

(iv) The individual holds a portfolio of listed securities, registered for trading with a minimum value of 02 billion VND as confirmed by the securities company at the time that individual is determined  as an investor. professional securities consulting 

(v) The individual has a taxable income in the most recent year of at least 01 billion VND by the time that  individual is determined to be a professional stock investor  according to the submitted tax declaration. to the tax authority or tax deduction documents of the paying organization or individual.

illustration. How to identify professional stock investors

2. Determine your status as a professional stock investor

According to the provisions of Article 4 of Decree 155/2020/ND-CP, the identification of professional securities investors is carried out as follows:

Issuing organizations and securities investment fund management companies are responsible for determining the status of professional securities investors participating in purchasing securities when conducting a private securities offering, registering to establish a member fund or Authorize the securities company to make the determination. In case of authorization, the issuing organization or securities investment fund management company must sign a contract with the securities company on the identification and storage of documents determining the status of a professional securities investor, in That clearly defines the rights and responsibilities of relevant parties.

For privately issued securities that are traded centrally on the trading system of the Stock Exchange, the securities company where the investor conducts the securities purchase transaction is responsible for determining the investor’s status. professional securities before making transactions. For privately issued securities that have not been centrally traded, the registration and depository organization is responsible for determining the status of a professional securities investor before transferring ownership.

Within 01 year from the time the securities company determines that they are a professional securities investor, the investor does not have to re-determine their status as a professional securities investor when participating in purchasing securities. Private offering, member fund certificates.

Investors who have purchased privately offered securities or member fund certificates do not have to re-determine their status as professional securities investors when selling the purchased securities.

Documents determining the status of a professional securities investor must be archived according to the provisions of law.


3. Documents identifying professional securities investors

For organizations specified in (i) : Certificate of business registration or License of establishment and operation or other equivalent documents.

For organizations specified in (ii):

– For listed organizations and organizations registering for trading: decision on approval of listing and registration for trading for listed organizations and organizations registering for trading;

– For organizations other than listed organizations or organizations registered for trading: Business registration certificate or other equivalent documents; Audited annual financial statements or reviewed semi-annual financial statements.

For individuals specified in (iii) , include the following documents:

– ID card or citizen identification card or passport that is still valid;

– Valid securities practice certificate.

For individuals specified in (iv) , include the following documents:

– ID card or citizen identification card or passport that is still valid;

– Confirmation of securities companies where investors open securities trading accounts on the market value of listed securities portfolios and securities registered for trading at the time of determining investor status professional securities.

For individuals specified in (v) , include the following documents:

– ID card or citizen identification card or passport that is still valid;

– Tax declaration documents submitted to the tax authority or tax deduction documents of the paying organization or individual in the most recent year before the time of determining status as a professional securities investor.

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